Swefintech

Swedish Financial Technology Association, shortened Swefintech, is a newly formed industry association for the Swedish fintech companies whose purpose is to provide a platform for the country's fintech community to speak with one voice.

The association was officially formed Tuesday the 17th of January 2017 and will act within the financial industry as a lobbyist and spokesperson. Northmill is a member of Swefintech.

Foundation and first meeting

One of the founders of the Swedish Financial Technology Association is Elisabeth Thand Ringqvist, currently the chairwoman of The Swedish Private Equity & Venture Capital Association (SVCA).

She announced the initiative during Fintech Stockholm 2016 and on January 17th 2017 the association held its first constituent meeting in the premises of the Stockholm Stock Exchange (Nasdaq Stockholm).

An estimated 60-70 people attended the constituent meeting. In addition to Northmill, the event was attended by Klarna, Collector, iZettle, Wrapp, Tink, Toborrow and many other companies.

Lena Apler from Collector Bank was chosen as chairwoman of Swefintech.

A warm reception

Among the speakers at the meeting were Per Bolund, Swedish minister for Financial Markets. He said that he believes fintech can help making the entire financial sector better and more available by creating new funding opportunities such as crowdfunding and peer-to-peer lending.

Further, Per Bolund stated that he as well as the Swedish government wanted to continue to work in order for Sweden to maintain its position as a leading fintech country. He ended his speech by congratulating Swefintech on our foundation.

The board members

The following individuals are part of the associations first board:

 Lena Apler (Chairwoman) 
Founder and chairwoman of Swedish niche bank Collector

 Elisabeth Thand Ringqvist 
Chairwoman, Swedish Venture Capital Association

 Knut Frängsmyr 
VP and COO, Klarna

 Adam Kostyál 
VP, NASDAQ

 John Christian Eriksson 
CEO, Lendify

 Rikard Hjelm
CEO, North Cape

 Magnus Oskarsson 
Senior Associate, DLA Piper

Entry requirements and membership fees

Swefintech is targeting companies which are mainly dealing with financial technology solutions. Elisabeth Thand Ringqvist estimates there are some 80 Swedish Fintech companies with 30 of them becoming members from the start. The membership fee is from 5000 to 80 000 SEK per year, depending on sales.

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