Kameo, a leading crowdlending platform in the Nordic region, financing real estate development projects in Sweden and Norway, has reported record results for the first half of 2025. The fintech facilitated NOK 971 million (€85m) in property-backed loans, a 32% increase compared to the same period last year, while also delivering a pre-tax profit of NOK 3.8 million. Revenue reached NOK 40.4 million, with EBITDA at NOK 4.5 million, a rare combination of rapid growth and profitability in the fintech sector.
"Volumes are close to our bull estimates, and the measures we have taken have had a strong impact. We have made it a lot easier to invest, while at the same time strengthening access to capital from institutional investors,” says Sebastian Martens Harung, CEO and founder of Kameo.
Kameo facilitated its very first loan in 2016. Since then, the platform has facilitated more than 1,400 loans with a total value of eight billion Norwegian kroner (€700m). Today, Kameo operates across Scandinavia, connecting small and mid-sized real estate developers with capital from private and institutional investors. Sweden remains the company’s largest market, but volumes in Norway grew 16% year-on-year in H1 despite weaker activity in Q2. Investors on the platform achieved an average annual yield of 10.3%, with Norwegian projects delivering 12.6%.
Prepared to scale
CEO and founder Sebastian Martens Harung highlighted both the resilience of demand and the company’s capacity to support larger projects. “The results show that we now have the capacity to finance significantly larger real estate projects. Our new app and oversubscription feature have made it easier to invest, and in some cases, loans have been oversubscribed by more than 200%,” he said.
Sweden remains Kameo’s largest market, while investments in Norway have been lagging behind due to an investment cap. The company expects further growth, also in Norway, once EU-wide crowdfunding regulations are implemented, removing the current NOK 1 million limit and harmonising Norwegian rules with EU standards. “Kameo’s ability to attract institutional capital alongside retail investors has been a key driver of its expansion,” Harung added.