Grace secured $700k in angel investment

Grace, a Stockholm, Sweden-based startup building a mobile-based consumer payment service, announced securing SEK 7 million ($740k) in capital investment.

The funding was provided by investors from Sweden and Iceland, led by JNE Invest.

Grace, founded in 2019 by Adam Lewestam, Birkir Veigarsson and Thorir Gudlaugsson, is working for the development of a service helping employees to get their salaries in advance. The company uses a freemium model, where new users can register and test on the service for free during the period. Those who like the service can then choose to pay a less fixed monthly fee to continue to have access to it.

Grace aims to go live with its service in 2020.