Bynk secures SEK 100M from existing investor, Schibsted Growth
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.