We're The Third Fastest Growing FinTech in Sweden

Posted by Simon Edström - CEO on 4/16/18 8:43 AM
Simon Edström - CEO
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Last week we found out we’re the 3rd fastest growing FinTech in Sweden, according to The Financial Times. It's a massive achievement for us, especially considering the first and second places went to Swedish giants, iZettle, and Trustly; we’re truly humbled. 

People outside the industry may not have heard of Instantor, and we get that; given our value proposition is perhaps not as easy to understand as other Fintech’s. But we are making people’s financial lives easier. We help organisations understand their customers’ true financial capacity and empower organisations to act fast and help more people at less risk. Basically, we make tough decisions easier.

Our intelligent products have helped customers increase acceptance by up to 60%, reduce fraud by up to 80% and decrease onboarding time from over a day, to less than 3 minutes. While this is impressive, it means more end-customers can prove their financial worth, beyond traditional means, like UC in Sweden or Experian in the UK. This helps people responsibly access capital they may not have been able to without Instantor, on better terms and faster.

We have heard some truly inspirational stories of people using the funds they were able to get through Instantor to buy a car, so they can accept a better job that is further away from their home, and, even using the capital to start small businesses. Meaning they’re more quickly able to move from their current situation into a better economic position.

During the last few years, we’ve grown to over twenty markets, have over 130 customers and made over 250 bank integrations. And up until the beginning of the year, this was done with less than 30 Instantorian’s. Since the beginning of this year, we’ve more than doubled the Stockholm office - hired a new CMO, Head of Legal, CTO, and we’re continuing to recruit in Stockholm, Zagreb, and Malaga.

Scaling quickly is important to us, this is why we are embracing PSD2 as a game changer, and we’re pumped for what’s going to happen next. Continued evolution of our product offering, markets and segments are on the table.

Leonardo Dicaprio GIF-downsized_largeAt the end of the day, we also know it’s the people at Instantor that have helped us to reach this incredible achievement. From Customer Support, to the Engineering team, to Sales. We’re moving away from being that small startup to building a brand that truly reflects the awesome team and technology that we’ve created. And I’m excited to be able to unveil that in the coming months.

Until then, thanks for the support and acknowledgment.


Topics: API, Product Updates, Instantor News