Backed by Wellstreet, Enable Banking secures open banking high profile Sarah Häger

Finnish Fintech Startup, Enable Banking, discloses a round of €600,000 led by Wellstreet and attracts the strong open banking profile Sarah Häger, now leaving Nordea after 15 years.

Enable Banking, a Nordic fintech startup based out of Finland, has raised €600,000 in its latest investment round. The funding was led by Wellstreet’s Fintech Fund and also included participation from Dutch investment firm Forward VC. The funding guarantees the continued development of the company's infrastructure, technology, and further international expansion into the EU – which Enable Banking has already started successfully pursuing. Yesterday, the company revealed that the industry veteran Sarah Häger is joining as Regional Manager for Scandinavia and the DACH region. 

Putting customers back in control of their data

The startup focuses on developing next-generation financial infrastructure via APIs for open banking capabilities across European banks and it is one of the EU’s sole providers of non-intrusive connectivity to ASPSP-official APIs. What has differentiated the company from other startups attempting to develop similar technologies is that Enable Banking places its customers in charge of their own data and business models – Enable Banking aims to empower its customers, not develop competing products. The business banking startup was founded to make integrating with banks easier and more streamlined for organizations – without storing data, using intrusive data modeling tactics, or taking control of sensitive business data. 

Since its latest investment round, Enable Banking has been able to hit multiple key KPIs, confirming its potential as a high-growth startup, and solid investment decisions from Wellstreet and Forward VC: 

  • The company grew from 7 members to 14, from 7 different countries.
  • The startup’s APIs have been integrated by 300 banks across 10 countries, covering 2,500+ bank branches in 21 countries total. 
  • 2X increase in customers. 
  • Payment functionality is live in 5 new countries. 
  • The company enhanced its branding efforts.
"With Wellstreet, we have been able to speed up our growth with their deep understanding of the financial industry and B2B sales. In addition, Wellstreet has been super helpful with industry introductions and support for us, founders. They are doing everything possible for us to succeed in our journey. Also, one big thing for me, personally, is their willingness to give back to society”, commented Joonas Tomperi, the founder and CEO of Enable Banking.
“Wellstreet created the Fintech Fund to drive greater efficiencies throughout the global finance and banking ecosystem. A perfect example of this effort, our investment in Enable Banking through the Fintech Fund nurtures these types of fast-developing technologies. We’re sure that all the investments of this fund will provide game-changing solutions to the challenges of our existing financial infrastructure”, says Wellstreet’s partner and fund manager, Armando Coppola.


Making internet banking unnecessary

And the fintech industry learned yesterday that a powerful name and leading force in the space decided to leave Nordea after 15 years to join Enable banking. The highlight of the current hiring spree of the company, Sarah Häger was one of the veterans in Nordea's digital initiatives. Open banking is a really new industry share, so it is quite a feature to say that Sarah became head of Nordea's investment in open banking six years ago. Her new job at Enable banking is as the Regional Manager for Scandinavia and the German-speaking countries and she will drive the company’s expansion in both regions.

“Enable Banking allows companies access to their real-time data where they want it. In practice, this means that you as a company can manage everything in the ERP and/or treasury system as all data can be sent there. You shouldn't even have to log in to the bank. In the long term, we will make internet banking unnecessary for companies. Another thing that I find very interesting is that Enable banking never saves any data. All data belongs to the customer and it never ends up with us. It's something I want to highlight more in the future," says Sarah Häger. 

Meet Sarah Häger

Wellstreet interviewed Sarah to get a better understanding of who is the person fighting to break frontiers and bring forward the future of fintech.

What is your purpose at Enable banking? 
My role will be as Swedish Regional Manager and you can say that my reach will spread to the whole Scandinavian and DACH region, seeking potential and strategic development in these markets through sales and business development.

Where is your Alma Mater? 
I studied in Gothenburg School of Economics (Swedish: Handelshögskolan i Göteborg)

What can you tell us about your previous experience? 
I was at Nordea bank for 15 years. At first, I worked with large corporate clients in Gothenburg, Stockholm and Frankfurt. When living in Frankfurt we found a way to commercialise SEPA/PSD1 which helped the branch to increase income. After moving back to Sweden I got a great opportunity to join Nordea Open Banking where we took Nordea into the forefront of financial developments, heading the Nordic open banking community through leadership and product development. Also here we found ways to commercialise on the regulation PSD2.

Why join Enable banking?
It’s exciting because API is the future! And the financial APIs are even more essential, helping companies access real data in ways impossible before. Enable Banking’s offers are a game changer in the industry. This is a segment where the users are heavily underserved, and the company is truly making a difference. The company enables corporate clients to free up time and space for their open banking operations.

What would you say are your main skills? I’m passionate about enabling innovation by combination, as well as commercializing compliance and regulations, that is, about finding commercial aspects in regulations.

Would you share anything about your personal life? 
I have a husband and two kids and I really enjoy sailing and skiing. I love Germany and traveling!

Thanks and welcome, Enable Banking and Sarah Häger!

About Enable Banking

Enable Banking is on a mission to become one of the EU’s leading open banking startups. By delivering open banking APIs and putting customers back in control of their data, the startup has quickly made a name for itself in the European fintech startup world.