Welcome to this special edition of the Wellstreet Journal, our newsletter, completely dedicated to fintech 💲.
In the last few months, we’ve been busy building the structure of a support framework for the Swedish fintech ecosystem that we will put into practice ahead of what we call the fourth wave of Swedish fintech. We started by establishing the Fintech Loft at the end of 2019.
Now, we consolidate our thesis by appointing the Wellstreet Fintech Board, an experienced group ready to lead us into the fintech future. We just made a key investment that exemplifies what we think the future will look like. We are also participating in conversations that open the floor for collaboration.
✈️ Buckle up and join us! You can read all about our thesis and why we are embarking on this journey so wholeheartedly.
The Emerging Fourth Wave in Fintech
Wellstreet Opens the Floor for Collaboration
💰 We took a deep dive into the development of the financial changes in Sweden over the past 30 years or so to paint a picture that points us to the future. This interesting analysis made us realize that we are on the brink of what we call the fourth wave of the fintech industry. It comes after the years of disruptors and unicorns, such as Collector and Klarna, the third generation dubbed "the Klarna mafia" by Sifted, formed by new ventures of former key employees of the previous waves. But what comes now?
We strongly believe that we can lead the fourth wave of innovation. For the new journey, we already have several committed partners such as AWS and we wish to collaborate with key stakeholders. Thus, we formed the Wellstreet Fintech Board.
With a broad perspective of the last 20 years, the experienced Wellstreet Fintech Board members will empower us to reach our goal of connecting the different sides of the industry by providing voice, engagement and scalability to all involved.
Read this special article and understand what we want to accomplish with this dream team!
Chairwoman of Wellstreet Fintech Board
🤩 The dream team mentioned in the above article needs a leader to support the process and decision-making. We gladly welcome Erika Eliasson as the Chairwoman of the Wellstreet Fintech board! Together we look forward to bringing more efficiency to the industry by bridging both sides of FIN and TECH.
Erika shared her thoughts on exciting challenges ahead and you can read them here.
Meet Aura Banking Cloud - new Portfolio Addition
Company will be part of The Fintech Loft
🆕 We proudly announce our most recent investment. Meet Aura Banking Cloud, a cloud-based banking platform that makes it easy and cost-effective for fintech companies and banks to launch new products and services in a flash. Aura wants to increase the banks' revenue opportunities and reduce operating costs. In just a few weeks, customers like DBT Finance and Promentor Finans can launch a new product and come up with new business models and improve the product mix. Curious? Learn more about them here.
Founded in 2019 with the mission of simplifying financial solutions, Aura Banking Cloud has just closed this 7M SEK round with the participation of Wellstreet and Almi Invest. The funds will serve to increase sales and marketing efforts in Nordic countries, followed by an expansion to other European countries.
Did you see it?
✌️ Armando Coppola: The World Fintech Festival took place last week. On December 10th, the Swedish day of the event, I represented Wellstreet in the Session Fintech Venture Building and shared some insights.
👀 Lena Apler: The tech queen and member of the Wellstreet Fintech Board joined Breakit Live last Thursday discussing several topics, such as personal loans (Sw: blancolån). Don’t worry, if you missed it you can still watch it right here (in Swedish).
🇬🇧 AWS has been a fantastic partner and a valuable source of dealflow for our fintech portfolio. We will now expand our partnership to the UK market to increase our reach into another stronghold for the global fintech industry.