The Swedish fintech startup Northmill, which provides cloud based financial services, has received a banking license from the Finansinspektionen (the Swedish Financial Supervisory Authority). With the new licence Northmill is soon all set to offer banking operations.

“This is a natural part of Northmill’s continuous journey and another important step in our mission to simplify people’s financial lives through technology and innovation”, says Margareta Lindahl, Chairwoman of the Board.

Rebilla, the key consumer-focused product, allows customers to refinance debts between SEK 1,000 and 300,000 – at a lower rate. With the new banking license, Northmill will soon add saving accounts, cards and payment transfer to its existing services.

Read more at Northmill’s website

Picture with courtesy of Unsplash



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