Anyfin, the Stockholm-based startup that enables consumers to refinance their existing loans, avoid high credit costs and improve their financial health, has today announced its $30 million Series B round, led by the EQT Ventures fund.

Other participants in the round include existing investors; Accel, Northzone and Global Founders Capital and Fintech Collective.

Dedicated to making finance easier and fairer for consumers, Anyfin will use the investment to drive product innovation, launch additional offerings and scale into new European markets.

The company is on a mission to improve the financial wellbeing of Europeans and put them back in control of their finances, which has become increasingly important amid the coronavirus outbreak.

The company was launched in 2018 by Mikael Hussain (CEO), Sven Perkmann (CTO) and Filip Polhem (COO). Surrounding themselves with experts in design and programming, artificial intelligence (AI) and credit counselling, Mikael, Sven and Filip set out to first solve one of the biggest financial issues facing consumers — unfairly high interest rates.

Far too many people pay unnecessarily high interest rates on their installments, credit cards and private loans. Anyfin has lowered the effective rate with an average of 64% for thousands of people in Sweden and Finland.

So far it is estimated that customers have saved $10 million by refinancing their existing loans with Anyfin.

Using loan data with publicly available consumer data and AI, Anyfin’s proprietary platform enables consumers to refinance their existing loans within seconds – based on their actual risk profiles.

“Right from the start, Anyfin has been on a mission to increase millions of people’s financial wellness and this is now even more important in the current climate,”said Mikael Hussain, CEO and co-founder.

“We want to make it as simple as possible to refinance a loan and give consumers the rate they deserve. We’re excited to have the EQT Ventures team onboard with their extensive network and rich operational experience.”

“The Anyfin team is one of the most experienced and ambitious fintech teams that the EQT Ventures team has come across,” said Ashley Lundström, deal partner and investment advisor at EQT Ventures.

“But what really impressed us was that Mikael, Sven, Filip and the stellar team they’ve built around them are truly value-driven. At EQT Ventures we believe that squarely aligning with consumers is a sustainable path to building a healthy business – so we were obviously thrilled to find the combination of tech DNA, market validation, and heart in Anyfin.”

Since launching, Anyfin has grown from a team of eight to 50. Anyfin is currently available in Sweden and Finland and plans to expand across Northern Europe.