Swedish Nowo gets SEK 18M for launching a saving card with a twist.

Nowo, a Stockholm, Sweden-based startup working for launching a digital financial saving application, raised SEK 18M ($2.2M) in capital investment.

The money was provided by NFT Ventures, half, and by undisclosed Swedish angel investors, for the other half. In conjunction with the investment, the company's board will consist of founder and chairman Andreas Bonnier, Sven Estwall, adviser to NFT Ventures, Nowo's CEO, Öjje Holt and ATG Marketing Director Sten Andersen.

Nowo was founded in 2014 by Andreas Bonnier, with the aim to attach a digital saving product to the purchasing habits of the consumers. The company works together with Resource Bank for launching a Master Card credit card where a percentage of the card purchase value is transferred to a pension fund managed by Alfred Berg's asset management.