Swedish fintech Nstart AB has been licensed to operate as a credit institution by the Swedish Financial Supervisory Authority (the SFSA). Hammarskiöld is very proud to have assisted Nstart in its process to become authorised. It is an important milestone for Nstart and provides a new foundation for the company’s continued growth. Nstart challenges legacy credit models and growing over-indebtedness with new technology and methodology for sustainable lending. Using superior in-depth data analytics, Nstart offers indebted consumers an opportunity to refinance loans and credits, take back control of their own finances and start a path towards freedom of debt.
“Nstart aims to be a leader in sustainable refinancing for consumers in Europe. The SFSA’s decision facilitates our ongoing expansion and means greatly improved conditions for realizing our strategy. It confirms the high quality of our growing business and is a testimony of the performance excellence demonstrated in the application process carried out together with Hammarskiöld”, says Daniel Ahrenby, Nstart’s Chief Executive Officer.
The SFSA has only granted a handful of authorisations for credit institutions in the last five years. It is a challenging project for tech-driven lenders to become authorised as credit institutions. Hammarskiöld’s approach in assisting clients in relation to applications to the SFSA is to focus and put great attention to quality in all aspects of a highly purpose-driven application process, in close co-operation with the client. This has been a highly successful approach, proven by many successful regulatory application projects where Hammarskiöld has assisted.
“Nstart’s commitment to the project combined with Hammarskiöld’s experience of the SFSA’s supervisory practices and requirements has been a great combination. We have been able to achieve great results by working closely together with Nstart and seamlessly with other specialist to support the company in its process of developing its organization and internal governance as required to become a credit institution authorised by the SFSA. It has been a most successful project. I am very proud of our team and we congratulate Nstart on reaching this important milestone.”, says Mattias Anjou, managing partner and responsible for Hammarskiöld’s Banking & Finance Practice Group.
Hammarskiöld’s team consisted of
Mattias Anjou (Partner)
Emma Lindwall (Senior Associate)
Johan Löfquist (Senior Associate)
Isabelle Vinterskog (Associate)