Debito receives more funding from Spar Nord.

Debito, an Aalborg, Denmark-based company managing a platform built for managing debt collection, announced adding more investment to the company.

The backing comes from local Danish bank Spar Nord, which will control the majority of shares and which will also have its Innovation manager, Jesper Dammand, join the company's board of directors.

Debito was founded in 2015 by Christoffer Baadsgaard and Morten Holst Henriksen and launched its product in 2016. Since then it collected around DKK 20M ($3.3M) in unpaid debt out of which takes a 10% margin cut.