The partnership between SaveLend Group and NordIX began in June 2022, focusing on consumer credits distributed within Sweden.
Initially, NordIX invested about MSEK 50, and this amount “has more than doubled since the partnership began.”
Now, the collaboration is set “to grow further, extending to the Finnish market with investments in euros.”
The starting investment for this new venture is MEUR 1, which both parties aim “to increase. Additionally, NordIX will raise its investment in the Swedish market by an extra MSEK 30.”
Claus Tumbrägel, CEO of NordIX AG, said:
“We have invested with SaveLend for more than a year and are very satisfied with our relationship, returns, and reporting. This makes us confident to expand the collaboration.”
Peter Balod, CEO of SaveLend Group said:
“We have made a major transition work, system and credit wise, and are now ready for larger volumes on the Finnish market. NordIX is a partner we appreciate and it is very exciting to take the first institutional deal in Finland with them!”
As noted in the update, NordIX AG is “a Hamburg based fixed income specialist founded in 2009.”
The company reportedly manages “a number of mutual and segregated funds, and develops intelligent investment solutions for institutional investors.”
In April 2021 NordIX launched its European Consumer Credit Fund to “invest in consumer loans originated by marketplace lending platforms.”
As mentioned in the announcement, SaveLend Group AB is “a fintech company with approximately 75 employees and offices in Sweden, Finland and Poland.”
The business is based on the savings platform SaveLend and the billing platform Billecta.
The savings platform makes it possible for savers “to get yield through saving in credits, such as SME, real estate, consumer credit and factoring in both SEK and EUR.”
The billing platform consists of “a complete billing system containing, among other things, accounts receivable, notification and financing solutions.”
