Savelend secures $1.1M, aims to go public in 2 years.
Savelend, a Stockholm, Sweden-based company managing a peer-to-peer intermediary loan platform, announced in a press release securing SEK 10M ($1.1M) in ca fresh equity investment round.
The money was provided by new and existing investors, including Vision Invest, Joel Jacobsson and Sven Engwall, and will be used to fuel the growth of the company and further acquisitions. The company expects to grow 300% percent in the next years and list its shares publicly on the stock exchange.
Savelend, founded in in 2013 by CEO Ludwig Pettersson, developed a marketplace for money trading, creating the context for a better interest rate than at traditional banks.
The company is yet to be profitable, at a 2017 recorded revenue number of SEK 20M, expecting a 50% increase for 2018.