Upfin, a new VC dedicated to supporting the Nordic fintech community, has raised €30 million to invest in early-stage startups across the region.
At first closing Upfin is backed by a sovereign wealth fund, a pension fund and a financial services union with the aim of investing in 15-20 fintech companies.
The team behind Upfin, Johan Lorenzen and Oliver Sjöstedt, say there is room to bring on additional investors for a second close.
Lorenzen is a former founder, CEO, investor and board member at several leading fintech companies, including Safello and Kompassbank. Sjöstedt adds the experience of having supported hundreds of fintech founders and investors and a background as a founder, management consultant and angel investor.
Says Lorenzen: "As specialists, we have built sector-specific expertise and network at a level which doesn't make sense for either a founder or a generalist investor to do, positioning us as the ideal partner for both."
To support its search, Upfin has formed a partnership with non-profit Copenhagen Fintech and its huge network of corporate and VC partners in the region.