Savelend gets SEK 11M, wants to expand its peer-to-peer loan platform outside Sweden.

Savelend, a Gävle, Sweden-based company managing a peer-to-peer platform for financial loans, closed a fresh investment round totaling SEK 11M ($1.4M).

The money comes from local investors, including Vision Invest and Joel Jacobsson.

Savelend, founded in 2013 by CEO Ludwig Pettersson, developed a marketplace for money trading, creating the context for a better interest rate than at traditional banks. In 2016 the company had sales of almost SEK 15M and expects SEK 25M and become profitable for 2017.

In 2016, Savelend raised SEK 2.7M at a 33M valuation from angel investors Niklas Braathen and Harald Axelius.