Cloud-based lending platform provider Näktergal secures EUR 1M

The Swedish fintech company Näktergal, supporting financial institutions with cloud-based platform solutions for digitised lending, has raised EUR 1M, led by Katalysen & Partners. Other notable investors are Stefan Backlund, former Vice President Marketing & Communications at Trustly, Jon Wimmercranz, former Group CMO at Bambora as well as fintech veteran Anette Tånneryd. The new funding will accelerate further expansion in Europe, the company is already planning to enter Germany in the coming months and support the development of the cloud-based lending platform to drive the transformation of financial institutions globally.

Näktergal’s plug-and-play cloud banking platform are replacing legacy banking tech, making lending more efficient and simple for banks and end-consumers alike. The Swedish fintech’s solution supports clients with parts of the flow or end-to-end, making it easy to tailor for different organisations. Since its inception in 2015, the company has gained clients ranging from banks to mortgage startups in Sweden and Finland.

Peter Almberg, CEO at Katalysen & Partners, said ”we have been working with Näktergal for 7 months now, and I am immensely impressed with the achievements of the Näktergal team and its products.” He added, “we are already actively involved in discussions with banks outside the Nordics and are looking forward to Näktergal entering a new market with pomp and circumstance.”

The pandemic has further spurred the demand for smooth digitised lending, profoundly increasing the need for Näktergals platform solutions. The new funding will support Näktergal to respond to increased market demands.

Erik Bennerhult, CEO and Co-founder of Näktergal, comments: “I’ve always had the vision of replacing legacy banking tech with an intuitive and efficient lending platform, which could provide the kind of personalised, streamlined and fast experiences that customers have come to expect in the age of the cloud. We’re now at a pivot point where larger banking institutions must transform how they operate their lending services, and Näktergal is well positioned in this shift. With new funding and a solid venture partner, we’re now fully equipped for scaling our business further in Europe, with Germany being next for Näktergal”.

Earlier this year, Näktergal closed a smaller round to launch a new Consulting arm. Näktergal Consulting launched earlier this June and has already grown to a team of 4 which support financial institutions with finance projects that involve large quantities of data.

“We started Näktergal Consulting as a supplement to our platform to support our new and presumptive clients with shifting their old processes to more digital flows. The service has been very well received and has made it easier for us to expand”, Erik Bennerhult continues.