Monner was acquired by Sparebank 1 SR-Bank
Monner Group, an Oslo, Norway-based company operating a digital engagement service for loan and equity crowdfunding, announced that it sold its loan crowdfunding platform to the Norwegian bank SpareBank 1 SR-Bank.
The deal follows an initial investment of $3M through which the bank acquired a minority package in Monner through Finstart.
Monner will be the preferred supplier of comprehensive services to companies in the start-up and growth phase throughout the country and will become SR-Bank's banking service for entrepreneurs throughout Norway.
Monner was founded in 2017 by CEO Jarle Holm and David Baum as a loan crowdfunding platform linking small entrepreneurial companies and lenders. The company is part of Monner Group and since founding it has provided NOK 100 million in loans distributed on 70 loans.
Monner Group is a financial group consisting of two wholly owned subsidiaries, Monner AS for loans and Monner Securities AS for investments.
Monner AS has a license as a payment company and is a registered loan intermediary, providing loan-based crowdfunding in the Norwegian market. Monner Securities AS provides crowdfunding investment services in the Norwegian market and has a license as an investment firm.