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kompasbank closes $22.5 Million Series A funding round

Source: Kompassbank

kompasbank, Denmark's newest corporate bank, last week closed a $22.5 million Series A financing round led by a group of the existing seed investors and a number of new investors.

The investment will enable the Bank to accelerate lending to the small- and midsized corporate segment in the Danish market. Both the existing seed investors and
the new investors in the Series A round include a number of prominent Danish and international Private Equity professionals, business angels and Fintech entrepreneurs.

“We are thrilled by the support of ambitious, successful investors who see the potential of an SME focused bank combined with new digital infrastructure” said Michael Hurup Andersen, founder and co-CEO, kompasbank. “We would like to take the time at this stage, and say thank you for the hard work of the team, the support and help on so many various levels from our investors and our constructive collaboration with the regulators over the course of the last year, which has been a very unusual period of time".

Chairman and founding investor, Jeppe Brøndum, adds: we are excited to launch kompasbank on the newest banking technology infrastructure and believe it will prove its worth to the SMEs in the current challenging environment. SMEs are the backbone of our economy and need efficient access to capital and services in the coming years to maintain and grow their businesses as well as invest in the transition to a greener economy. We can't wait to open the doors to our clients in the coming months".

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