Bynk secures SEK 100M from existing investor, Schibsted Growth

Sweden Investments 25 June 2018
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Bynk, a Stockholm, Sweden-based startup providing a mobile banking application used for unsecured loans, announced in a press release adding SEK 10M ($11.2M) in capital investment.

The money is providing by its existing investor, Schibsted Growth.

Bynk, founded in 2016 and led by CEO Dennis Ahlsén, developed a digital platform via which customers can get loans of up to SEK 300k subject to key personal data about the borrower. The company is yet to be profitable, recording losses of SEK 42M ($4.7M) at a turnover of SEK 6M in 2017.

Prior to this round, Bynk raised about $11M from investors including Schibsted Growth, LMK Ventures and angel investors Patrick Grimlund and Thomas Hjelm.