Nordea has invested in the fintech company CrediWire together with the Danish bank Sparekassen Kronjylland. Several of our Danish corporate customers already use CrediWire’s solution to get an easy visual overview of their finances, and the goal is to roll out the solution beyond the Danish borders.
"CrediWire is a unique tool, which can both make life easier for our corporate customers and strengthen the cooperation and dialogue between the customer and us as a bank. We have cooperated with CrediWire for some time and can see that their solution is working. That is why we have decided to invest in the company", said Bjørn Bøje Jensen, head of Business Banking in Denmark.
With the investment Nordea gets a seat on CrediWire's board and will, among other things, help launch the solution in more countries.
"CrediWire provides our customers with an easy and intuitive analytical tool to manage their finances. With it we can prepare budgets, assess credit needs etc together – not just at annual follow-up meetings, but also during the year. We therefore hope soon to be able to offer the solution to many more Nordea customers in the Nordics", Bjørn Bøje Jensen said.
For CrediWire it has been important to choose the investors who in terms of competencies can best support the company in its continuous journey.
"For us it is essential to get investors on board who understand what we want to do with the company and can help it with more than just money. We are enormously lucky to be able to invite Nordea and Sparekassen Kronjylland on board", said Nicholas Meilstrup, CEO of CrediWire.
CrediWire has developed a tool which gathers financial data from across financial management systems for small and medium-sized enterprises. This provides management and its advisers (such as bank, auditor and board) with an easy graphical overview of the business’s finances in real time and facilitates automated reporting and industry benchmarking. CrediWire’s system is free of charge for businesses, as the recipients of the data – for instance banks – pay for the service.
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