Anyfin, the Stockholm-based start-up that enables consumers to refinance their existing loans, has raised $30 million in financing.

Leading the Series B round is EQT Ventures, with participation from existing investors Accel, Northzone and Rocket Internet’s Worldwide Creators Capital (GFC ). Anyfin says it will utilize the investment to”drive item innovation,”launch additional offerings

and scale into new European markets(currently, the fintech operates in Sweden and Finland). Launched in 2018 by Mikael Hussain(CEO), Sven Perkmann (CTO)and Filip Polhem(COO), Anyfin is on a self-described mission to improve the monetary well-being of Europeans and “put them back in control of their financial resources.” It does this through a digital loaning platform concentrated on refinancing. The idea is to make it simpler to competitively refinance (or combine) loans and charge card and therefore not get ripped off with high interest rates or compound interest.

Via Anyfin’s website or iOS and Android apps, consumers can pick their current loan supplier from a drop-down menu, snap an image of their declaration or upload it. Anyfin then offers feedback, consisting of, where relevant, the choice to re-finance at a “fairer” price. “With one tap, the customer can accept the new option from Anyfin and the company looks after settling the existing loan for them,” discusses the Swedish fintech.

Behind the scenes, Anyfin claims to use AI, combined with openly available customer information and info gathered through taking a picture of your existing loan statement or uploading an electronic copy, including your repayment history. This, it states, provides it a more total photo than your credit report alone, which is most likely the primary information point used by the initial lending institution.

” All the customer needs to do to conserve a bunch of money is to snap an image of the charge card costs or loan declaration and we do the rest,” Anyfin co-founder and CEO Mikael Hussain told me in early 2018.”When a customer sends us their picture we use OCR to get the information we require, run that through our threat algorithms and, based on that, give the consumer an individual cost.”

Cue declaration from Ashley Lundström, offer partner and financial investment advisor at EQT Ventures: “The Anyfin team is one of the most enthusiastic and experienced fintech groups that the EQT Ventures group has actually encountered. What actually impressed us was that Mikael, Sven, Filip and the outstanding team they have actually built around them are really value-driven. They’re in the video game for the consumer, and never ever has this been more crucial. At EQT Ventures we believe that squarely lining up with customers is a sustainable path to building a healthy service– so we were undoubtedly enjoyed find the mix of tech DNA, market recognition, and heart in Anyfin.”

Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.