“We have followed FundingPartner ever since its humble beginnings and have always had a strong presence on the team, but what they have achieved has exceeded our expectations. We look forward to the further journey out into the Nordics and will support FundingPartner in new countries,” says Anders C. Rønning, CFO of Schibsted Ventures Norway.
FundingPartner offers loans to small and medium-sized businesses, scaleups and real estate companies. It started up in 2018, and in 2021 it had over 40% of the market for publicly financed loans in Norway. The company has developed an investment platform offering corporate loans through public financing and is now launching its first loans in Sweden.
“The goal is to become the largest and best service in Norway and the Nordic countries,” says Geir Atle Bore, founder and general manager of FundingPartner.
To Sweden and Denmark
“We have put together a very strong team and with skilled advisers, we have a clear strategy for how to expand. As we launch in Sweden, we are also opening up to Danish investors, and the ambition is to become a Nordic platform,” says Geir Atle Bore.
“The growth opportunities in Sweden are far greater than in Norway, and regulation is simpler and better. In other words, the choice to establish ourselves in Sweden was very simple,” he continues.
The company has even greater ambitions than conquering the neighbouring country in the east. FundingPartner wants to become a leading Nordic player.
Better framework conditions for SMEs
In Sweden, the market for publicly financed loans has long been dominated by loans for real estate projects. Bore and FundingPartner want to challenge this.
“Through the investment in FundingPartner, we support skilled and enthusiastic entrepreneurs, at the same time as we improve the growth opportunities for small and medium-sized businesses. A better combination is difficult to find,” Rønning concludes.
FundingPartner was founded in Norway and has had over 120% growth over the past two years. During the same period, net interest income was 8.5% on average for investors after credit losses of less than 0.4%. FundingPartner has over 11,000 Scandinavian investors connected to its platform and has since its start brokered 243 loans in a number of industries.