Northzone and Industrifonden lead SEK 30m investment in Qapital

The capital injection will fund further development and expansion of the company's digital banking service and US operations.

For Industrifonden, Qapital is one of its first investments in the Swedish fintech sector. The vertical has attracted a lot of attention and capital in recent years, with American VC Accel backing Bitcoin platform KnCMiner and Northzone-backed Klarna achieving a valuation in excess of $1bn.

Company
Headquartered in Stockholm, Qapital is a developer of behavioural economics-based savings technology.

Operating in the US, Qapital's product lets customers set long-term savings targets, which it helps them achieve through small automatic transfers.

People
Industrifonden – Sofia Ericsson Holm (investment manager).
Qapital – George Friedman (CEO).

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• Topics
• Expansion
• Nordics
• Technology
• Venture
• Northzone
• Industrifonden
• Sweden