Kameo adds strategic investment from ABG Sundal Collier
Kameo, a Stockholm, Sweden-based company operating a crowdfunding platform for financial loans, announced getting into an investment agreement with the Oslo, Norway-based investment bank ABG Sundal Collier.
The financial details remained undisclosed. Following the transaction ABG Sundal Collier will become the largest shareholder in Kameo. ABGSC recently also acquired Introduce, an online platform for company sponsored research.
Kameo, founded in 2014 by CEO Sebastian Harung, Bjørn Braathen and Urban Stärner, built a digital marketplace for crowdfunded loans to small businesses and property developers.
The platform, which is operated under a license from Finanstilsynet / Finansinspektionen, provides credit to small and medium sized businesses and real estate projects through crowdfunding. Investors can participate and invest in loans to specific projects and companies, receiving instalments and interest on a monthly basis.
Kameo managed loans of SEK 300M to 134 projects, with an average loan at around SEK 2M and with 90% of the projects based on real estate. The company is not profitable, as it lost SEK 10M at a 2018 SEK 3M ($320k) turnover.