Nordea invests in fintech company Betalo

Betalo investment
17-11-30 10:13 | About Nordea | Markets and investments

Nordea is investing in the fintech company Betalo. This takes our partnership with the Swedish company to the next level after a cooperation agreement was signed in March 2017. 

Betalo is raising SEK 45 million to accelerate growth and speed up the development of new products. Nordea accounts for the vast majority of the funds with the remainder coming from existing Betalo shareholders. 

"Delivering the benefits of digitalisation is a cornerstone of Nordea's strategy; this is another step towards realising this ambition. We want to be able to offer our customers simple and smart digital banking services, and Betalo is exactly in the sweet spot here," says Erik Zingmark, Head of Transaction Banking at Nordea. 

The investment in Betalo follows the recent announcement of the establishment of Nordea Ventures, which was set up to make investments in fintech companies in line with our ambition of building a truly digital bank. To support and accelerate innovation and strengthen our offering to customers, Nordea Ventures will focus heavily on investments where we see mutual strategic value.

"We have worked hard to prove that we can build complex, high-quality financial services, and with this investment we can build on the vision of becoming a mobile bank. Equally important is that with Nordea we get the Nordic region's strongest strategic partner, and in an area like fintech, knowledge and market experience is crucial," says Eli Keren, CEO of Betalo.

"It's no secret that the banking world is changing, and rapidly taking user-friendly products to market will be crucial. The collaboration is a perfect match as it combines Betalo's innovation speed with Nordea's experience and customer base,” Erik Zingmark adds.

Latest news by Nordea

Showing 5 of 248 results

Navigating COVID-19: Sign up for Nordea’s Economic Outlook

Economic outlook

Register for the webinar, and receive the Economic Outlook released on 27 May.

Eric Pedersen

Sustainable funds: Nordea in European top league

Markets and investments Sustainability

Nordea Asset Management is in the European top league of preferred providers of sustainable funds.

Nordea and Nasdaq join forces to make the sustainability footprint of investments visible

About Nordea Sustainability Responsible investment

The sustainability footprint enables comparisons of the environmental footprint of our investment portfolios.

Diversity and inclusion – part of our work every day, all year round

About Nordea Sustainability

In our capacity of a major corporate citizen, we want to stand up for everybody’s equal value and opportunities

Nordea is a proud partner of Pride in the Nordic capitals

About Nordea Sustainability

Nordea strives to contribute to a society where diversity is seen as a strength

Showing 5 of 248 results