Northmill launches bank guarantees for businesses
Northmill Bank, a leading Nordic digital challenger bank, is expanding its corporate offering with the launch of bank guarantees for businesses, providing greater security in commercial agreements and contractual commitments.
Press Release, June 15, 2026
The bank offers interest on funds held as collateral, allowing companies to retain the return on their capital instead of paying for the security.
The launch is a strategic step for Northmill, strengthening the bank's position as a full-service partner for businesses. The new product covers several common needs, such as rental guarantees, travel guarantees, and construction guarantees. All guarantees are 100% cash-collateralized, meaning each guarantee is fully backed by funds deposited in a restricted account. The onboarding process is digital, simple, and fast.
What sets Northmill's offering apart is the management of the funds held as collateral. In traditional banking solutions, companies often have to pay fees to keep capital locked up as collateral. With Northmill, the customers earn interest on the collateral amount during the guarantee period.
"We see that many companies today have capital tied up in bank guarantees that yield no return at all, or where they even pay a fee for the bank to hold the funds. By offering interest on collateral funds, we provide a more attractive alternative for businesses that need to provide security under commercial agreements. This is another step in our ambition to offer businesses everything they need to manage their finances," says Gabriel Yousef, Chief Commercial Officer at Northmill Bank.
How Northmill's bank guarantee works:
Easy application: The company applies for a guarantee related to, for example, a lease agreement or construction project.
Collateral: The customer deposits the corresponding amount into a restricted account with Northmill.
Return: The customer earns interest on the deposited funds throughout the guarantee period.
Security: Northmill issues the guarantee to the beneficiary (e.g., a landlord), ensuring that contractual obligations are fulfilled.
Contacts:
Press: Frida Almgren, PR, press@northmill.se, + 46 76 - 19 98 300
About Northmill Bank
Northmill Bank is a Nordic digital challenger bank with the vision of improving people’s financial lives. With a full Swedish banking license, the bank offers financial services for both consumers and businesses. Northmill became the EU-based bank receiving the most awards at the Banking Tech Awards 2025 and has been ranked three times as one of Europe’s fastest-growing companies by the Financial Times, most recently in 2026. In Q4 2024, it became the first Swedish bank to complete a payment through the Swedish Riksbank’s new infrastructure for real-time account to account payments, RIX-INST. Northmill Group’s CEO Julie Chatterjee was one of only two executives from a Swedish bank invited to speak at the most recent annual FT Global Banking Summit in December. In October 2025, her peer-reviewed publication on AI in banking, was published in the Journal of Digital Banking. www.northmill.com/se/
