Economy

Anyfin: Swedish fintech starts next week in Germany

Mikael Hussain, co-founder and head of the Swedish startup Anyfin.

Mikael Hussain, co-founder and head of the Swedish startup Anyfin.

Christoffer Skogsmo

As NewsABC.net learned exclusively in advance, the Swedish fintech Anyfin will be launched in Germany in the middle of next week. A German homepage has already gone online, and the company will not announce the start of Germany until the beginning of next week.

Co-founder and CEO Mikael Hussain speaks to over 100,000 app users in Sweden and Finland. “We see great potential in the German market, as the willingness of consumers to improve their financial situation is at least as great as in Scandinavia,” he says.

Last year, Anyfin drew attention to itself because the startup, which was only founded in 2018, announced a financing round of over 30 million US dollars in May, shortly after the start of the corona crisis. In addition to EQT Ventures, Accel, Northzone and FinTech Collective, the Global Founders Capital fund from Rocket Internet is also among the investors.

Anyfin is looking for cheaper deals for borrowers

After Klarna, Anyfin is the next Swedish fintech to expand to Germany. Anyfin aims to help customers find cheaper deals on their consumer loans. The target group is primarily the younger generation, who tend to make more expensive purchases through financing. Users can send a photo of the current monthly loan bill to Anyfin via the app and the company will look for cheaper loan offers. Mikael Hussain sets himself ambitious goals: “We want to give millions of people back control of their finances.”

According to Anyfin, more than 30,000 customers have already reduced the effective interest rate on their installment loans, partial payments and credit cards by an average of 64 percent along the way. You only get an offer if the fintech finds a loan option with lower interest rates. There should be no fee for this, instead Anyfin earns from the interest that customers pay them.

Anyfin survey indicates financial problems of young people in Germany

At the start in Germany, Anyfin also took a close look at the relationship between Germans and money. 1,000 people in Germany between the ages of 18 and 45 were surveyed. The result: the well-known motto “You don’t talk about money” is becoming less and less important. Only ten percent of those surveyed categorically rule out open communication. Almost half said they spoke openly with friends or family about their finances and related issues.

However, the survey also draws attention to financial problems. 31 percent of those questioned feel that they are financially worse off than the average. The financial reserves are also worrying: a quarter of those surveyed are currently unable to bridge financial bottlenecks of 250 euros. In the age group between 18 and 25 years it is even 38 percent.

Tags

Related Articles

Back to top button
Close
Close