For the third consecutive year, the leading Nordic business paper Dagens Industri, has awarded Di Gasell to Northmill as one of the fastest-growing companies in Sweden. The Swedish tech bank has grown organically and has been profitable since day one. With a CAGR* of 73 percent seen over the past five years, Northmill continues to broaden its product portfolio. Only in 2019, the tech bank has launched seven new products and features under the new brand Rebilla.
Hikmet Ego, CEO at Northmill commented:
“The Gasell-award is another proof that we continue to do the right things and that we are able to scale up and remain profitable at the same time. We have managed to put all the relevant pieces together and can see that our long-term investments in the organization, our modern technology infrastructure and product development show result. At the same time, we have strengthened our capacity in compliance, risk and analytics with several key recruitments.”
Northmill’s most recent product to join the increasingly growing product portfolio is the Rebilla Card. The no-fees card with 2 percent cashback on purchases up to SEK 50 000 per year is expected to become one of the most competitive cards on the market. The tech bank, which aims to have a presence in ten markets in a few years, does not plan to slow down in 2020.
Hikmet Ego commented:
“We really believe in developing less complicated, more flexible and better banking products that are helping people save money, not just those who can afford it. With the recent Swedish banking license, new exciting opportunities arise, making it possible for us to develop even stronger products that we know people are in need of. We will pursue the long-term strategy we have had since day one and continue to cherish our employees and our customers, then we know we can scale up even further in 2020.”
Less than one percent of the companies in Sweden meet the standards set by Dagens Industri in order to receive a Di Gasell-award. Among them, the company has had to increase its revenue every year for the past three years, has had a positive operating profit for the last four fiscal years and that the growth has been essentially organic.
* CAGR - Compound Annual Growth Rate