Nstart AB is a Stockholm-based fintech challenging legacy credit models and growing over-indebtedness with new technology and methodology for sustainable lending. Using superior in-depth data analytics, Nstart offers highly indebted consumers an opportunity to refinance loans and credits, take back control of their own finances and start a path towards freedom of debt. Nstart had sales of EUR 14 million in 2021.

The FSA’s decision means that Nstart will expand its existing range of services to savings accounts in the coming months and begin financing operations. Nstart's depository services are covered by a government deposit guarantee of up to EUR 100,000.

Further, the license enables financing operations throughout the EU, facilitating the continued international roll-out of Nstart's proposal to reduce highly indebted consumers’ costs. In 2022, Nstart was launched in Norway and the strategy includes expansion to several additional European markets in the following years.

“With rising interest rates, it is becoming increasingly important for consumers to find ways out of overconsumption and indebtedness. We want to be a leader in sustainable refinancing for consumers in Europe and give as many people as possible the chance to free themselves from expensive loans and credits. The FSA’s decision facilitates our continued expansion and means improved conditions for realizing our strategy", says Daniel Ahrenby, Nstart's CEO.

Nstart submitted the application for a credit institution license in the summer of 2021. The license was granted in June 2022.

“This confirms the high quality of our growing business. We run a successful fintech operation with a service in great demand that creates strong benefits for regular consumers. We may now give our customers the opportunity to start saving instead of borrowing. The license also underpins an expansion of our product range to additional lending refinancing services”, Daniel Ahrenby says.