Upfin says it is here to support “exceptional” fintech founders with capital, deep industry expertise, and a network within financial services.
Upfin is led by a team “with extensive experience founding, operating, and supporting fintech.”
At first closing Upfin is “backed by a sovereign wealth fund, a pension fund and a financial services union with €30m.”
As mentioned in a blog post, Upfin originates from a Nordic base, but “looks to invest across Europe and the Baltic region as well.”
The Nordics as base have “produced an incredible lineup of global fintech solutions and proven themselves a unique ecosystem with a competitive edge for being the launchpad for tomorrow’s financial services.”
Upfin is here “to fuel that edge with dedicated capital, supporting exceptional teams in the very early stages and building the foundation for growth.”
In an industry where a little in-depth knowledge goes a long way, a lot of it “goes a long way further.”
Upfin will invest at the pre-seed and seed stage, leading rounds and “joining as the specialized co-investor.”
As noted in the announcement, “behind Upfin is Johan Lorenzen, Managing Partner and Oliver Sjöstedt, Principal. Johan Lorenzen can leverage his extensive experience as a founder, CEO, investor and board member in several leading fintech companies.”
Oliver Sjöstedt adds the experience of “having supported hundreds of fintech founders and investors and a background as a founder, management consultant and angel investor.”
Johan Lorenzen, Managing Partner, said:
“As specialists, we have built sector-specific expertise and network at a level which doesn’t make sense for either a founder or a generalist investor to do, positioning us as the ideal partner for both.”
As mentioned in the announcement, Upfin is a fund with “a unique strategic partnership with Copenhagen Fintech.”
Upfin can “leverage a world-class platform of financial institutions, investors, founders, and expert advisors in the Nordics and beyond.”
As noted in a release, Upfin is “a Nordic VC dedicated to early-stage fintech, with a first close announced in May 2022 of €30m, with room to bring on additional investors for a second close.”
The investors behind Upfin “are Vækstfonden, a Sovereign Wealth Fund; Veliv, an innovative Pension Fund; and Finansforbundet, the leading Financial Services Union.”
Through Fund I, the team aims “to invest in 15-20 fintech companies.”