Tagged: norway

Billion Dollar Crypto Miner Walks Following Electricity Rate Hike in Norway

NTC Services, a consulting firm that assists “data centre” companies looking to establish themselves in Norway, says it has lost a billion dollar client thanks to a recent budget decision by the Norwegian government authorizing an electricity rate hike to local cryptocurrency mining farms, e24… Read More

Norway Cancels Electricity Subsidies to “Dirty” Crypto Mining Sector

Until now, “data centres” mining cryptocurrencies in Norway have qualified for the same reduced electricity rates enjoyed by other power-intensive industries- 0.48 øre per kilowatt, rather than 16.58 øre- but that is about to change, Aftenposten reports. The sector has reportedly raised the ire of the local Directorate… Read More

UiA: Norwegian University Launches Master’s Elective Crowdfunding Lab Course

Innovation Norway and the School of Business and Law at the University of Adger (UiA) have partnered to offer a master’s course in crowdfunding. In addition to lectures and teaching, participating students will be working with real campaigns from real companies. Reportedly, more than 20 companies and… Read More

Norwegian Crypto Mine that Sustained Bomb Threat Now Imperilled by Noise Complaints

A Norwegian crypto mine that endured a bomb threat earlier this month is now being imperiled by a raft of noise complaints, The Local Norway reports. Noise from fans used to cool Kryptovault’s extensive cryptocurrency mining facility in Hønefoss, north of Oslo, is reportedly seriously… Read More

Young Norwegians Who Bragged to Media about Crypto Wealth Forgot to Report it on Their Taxes

Two young braggarts who took to the Norwegian media to boast about millions in crypto profits last year are backpedalling now after media showed they disclosed minimal gains on their 2017 tax returns, Dagens Naeringsliv reports. Crypto-mining partners Philip Eriksen and Roy Arne Olsen, both… Read More

Local Disgruntled Over Noise Threatens to Bomb Norwegian Crypto Mining Facility

The operators of two crypto-mining facilities in rural Norway received a rather stern noise complaint last week in the form of a bomb threat, Vaksdalposten reports. According to a loose translation, Norwegian firm Krytpovault say the threatening note came in after the company’s operations in… Read More

Nordea to Acquire Gjensidige’s Banking Arm; Announces Partnership With Insurance Group

Nordea announced on Monday it has into an agreement with Gjensidige Forsikring ASA to acquire all shares in Gjensidige Bank ASA. The company reported that it purchased the bank for an estimated cash consideration of NOK 5,500 million (€578 million), that will be adjusted for the… Read More

Clearhaus Launches Apple Pay in Norwegian Webshops

Danish fintech Clearhaus announced on Thursday it has launched Apple Pay in its Norwegian Webshop. This news comes just a few months after the company revealed its support for the payment method. As previously reported, the company explained that Apple products have always been popular in the Nordics,… Read More

Blockbonds and I&M Bank Rwanda Announce “Cost Free” Banking App SPENN

Norwegian Fintech Blockbonds has partnered with I&M Bank Rwanda on SPENN – a mobile banking app for both individuals and businesses. SPENN is said to be 100% “cost free” – including money transfers, cost free payments in stores and cost free cash out and deposit… Read More

China: WeiyangX Fintech Review

Online Marketplace Lenders Banned from Lending to College Students in China On September 6th, Zhao Jianjun, deputy director of the Department of Finance at Ministry of Education, announced at a press conference that online marketplace lenders are banned from lending to college students in China…. Read More

Bridge to Asia: LATTICE80 Partners with Nordic Finance Innovation

      LATTICE80 and Nordic Finance Innovation (NFI) have announced a new partnership to “bridge Asia and the Nordic’s Fintech ecosystems.” LATTICE80 is the creation of Marvelstone Group, a private investment firm.  The two entities signed a Memorandum of Understanding (MOU) to seal the… Read More

Signicat Launches MobileID to Satisfy PSD2 Requirements

ID assurance provider Signicat, one of the largest identity assurance providers in the world, has launched MobileID, a mobile authentication product. In addition to offering financial service providers speedy onboarding and identity assurance using a number of digital identity plans, Signicat now also offers Strong Customer… Read More

Fintech Startup Tribe Receives Investment From BearingPoint

Norway-based fintech startup Tribe has reportedly received an investment from independent management and technology consultant, BearingPoint. According to Tribe, the new investment will bring it and BearingPoint together and the duo will enter into a long-term partnership to expand each of their service portfolios. Tribe describes itself… Read More

Invesdor Updates on Progress in Norway: Three Successful Funding Rounds & Three to Follow

Invesdor is reporting on progress in Norway.  The equity crowdfunding platform set up shop in Norway in February of 2016 becoming the first licensed platform to launch in the country.  All 3 Norwegian companies received investments from several countries notably from Finland, Sweden, and Germany…. Read More

Norway Skincare Brand Bad Norwegian Completes Invesdor Campaign With Over 1.4 Million Kr

Earlier this month, Norway-based skincare brand, Bad Norwegian closed its funding round on Invesdor and raised 1,457,850kr, reaching 292% of the initiative’s original target amount (500,000 kr). The company is considered the second ever equity crowdfunding success in Norway.  Bad Norwegian, which was founded in 2011, offers up… Read More

Invesdor Leverages Identity Tech to Fund Cloud Solutions Insurtech Company

Cloud Solutions, a Norwegian Insurtech company, recently raised equity capital on Invesdor’s crowdfunding platform. The offer was over-subscribed and the success is being attributed, in part, to the integration of Signicat technology. Finland-based Invesdor explains that due to equity crowdfunding regulation that mandated know your customer… Read More

Bad Norwegian Nears 750,000Kr During the Final Week on Invesdor

With less than week until its Invesdor crowdfunding campaign comes to an end, Norway-based skincare brand, Bad Norwegian has successfully secured its initial 500,000kr funding goal and is currently nearing 750,000kr. The company previously extended its initiative due to the fact that larger investors were not able to… Read More

Brief: Invesdor Takes Talents to Norway, Next Stop Denmark

Invesdor officially initiated its operations in Norway with a Norwegian-based equity offering, insurance sector software platform Cloud Insurance. The launch will officially be announced and the crowdfunding round will open at the TechLive! Financial Disruption event in Oslo today. “Until now, Norwegian companies have had no way to raise funds in… Read More

TrustBuddy Bankruptcy: Lenders to Pay 25% on Recovered Claims

TrustBuddy, a publicly traded peer to peer lending platform, filed for bankruptcy in October of 2015.  This event occurred soon after it was revealed that management had uncovered “suspected misconduct” regarding the operations of the firm. Once the announcement of financial irregularities hit, it was… Read More

Equity Crowdfunding Experience: Someone.io’s Experience on FundedByMe

After a 2-month campaign Someone.io closed it’s equity crowdfunding campaign on FundedByMe. By the end of the campaign 45 investors had purchased 12.8% of the company for €129,508. Following a team debriefing session, the group decided to share some of their findings. Someone.io feels that as… Read More

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