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

Nordea sign

Nordea sanctioned by ESMA

About Nordea

As previously communicated, Nordea has since 2015 been subject to an investigation by ESMA of its past practice of including so called “shadow ratings” in it...

Nordea's first Green bond impact report published

Sustainability About Nordea

We proudly present Nordea’s first Green bond impact report.

we.trade – Nordea co-developed blockchain platform has performed its first trades

About Nordea

Nordea is a key player in the design and implementation of this cutting-edge solution.

Nordea's re-domiciliation

Re-domiciliation: ECB grants banking licence to Nordea Holding

About Nordea

Nordea Holding Abp has been granted a banking licence by the European Central Bank.

Nordea first Nordic bank to join new European instant payment service

Digital banking

Nordea customers in Finland can now receive instant Euro payments in seconds from friends and business partners from Europe. This includes at any time of the...