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Founded Year

2017

Stage

PIPE | IPO

Total Raised

$20.97M

About Aprila Bank

Aprila Bank is a digital bank for SMB financing, working capital inside online accounting systems. Customer onboarding takes seconds, financing offers are automatically generated and Aprila uses live accounting data to price risk and predicts outcomes using ML. Transactions are automatically booked in the accounting systems.

Aprila Bank Headquarters Location

Kirkegata 5

Oslo, 0153,

Norway

+47 23 96 68 68

Aprila Bank's Product Videos

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Aprila Bank's Products & Differentiation

See Aprila Bank's products and how their products differentiate from alternatives and competitors

  • Credit Line

    Credit lines /overdraft facilities for SMEs

    Differentiation

    No-one else offers credit to small SMEs in our market, and Aprila also does not require pledge (which would be in the owners home). 

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    Differentiation

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  • Subscribe to see more

    We're on a mission to enable every organization to make smarter decisions about tech. Whether it's finding a new game-changing vendor or understanding a new market, it's easier, faster and smarter with CB Insights. All made possible by the smartest, hardest-working team in tech. Subscribe to see more.

    Differentiation

    We're on a mission to enable every organization to make smarter decisions about tech. Whether it's finding a new game-changing vendor or understanding a new market, it's easier, faster and smarter with CB Insights. All made possible by the smartest, hardest-working team in tech. Subscribe to see more.

Research containing Aprila Bank

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CB Insights Intelligence Analysts have mentioned Aprila Bank in 1 CB Insights research brief, most recently on Sep 22, 2020.

Expert Collections containing Aprila Bank

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Aprila Bank is included in 4 Expert Collections, including Banking.

B

Banking

967 items

D

Digital Lending

1,697 items

This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.

S

SMB Fintech

1,234 items

F

Fintech

4,864 items

Track and capture company information and workflow.

Latest Aprila Bank News

Aprila Bank : Q2 2022 interim report

Aug 12, 2022

02/15 08/12/2022 | 01:09am EDT Message : 2 7 Condensed statement of financial position 8 Condensed statement of the cash flow position 9 Condensed statement of changes in equity 10 Notes 3 NOK MILLION Nominal value of invoices purchased in the period. Q2 2022 | APRILA BANK ASA 4 About Aprila Bank ASA Aprila is a product- and technology company offering improved access to financing for small and medium sized enterprises (SMEs) through innovative financial solutions. Aprila's API-based technology platform supports both direct customer relationships as well as customer relationships established through partners. The bank commenced operations in April 2018 and offers three credit products to SMEs: credit line, spot factoring and B2B ecommerce checkout. Aprila's technology infrastructure employs machine learning models that predict outcomes and price risk automatically, using real-time data in addition to ordinary sources of credit information. This enables the bank to offer credit to SMEs with a seamless customer experience. The bank is owned by private and institutional investors in Norway and abroad. The largest shareholders are SES AS (18.2%), Amesto Group AS (15.5%), and Alliance Venture Spring AS (5.2%)3. Second quarter 2022 Highlights from the quarter are outlined below. Aprila delivered a pre-tax profit of NOK 1.6 million in the second quarter of 2022; its first positive quarterly result since the start of operations in Q2 2018. Gross income from lending amounted to NOK 26.4 million, an increase of 90% YoY and 22% QoQ. Total income amounted to NOK 22.9 million, an increase of 113% YoY and 28% QoQ. Gross loans at the end of the quarter amounted to NOK 517 million, an increase of 104% YoY and 18% QoQ. Gross lending to credit line accounts amounted to NOK 454 million at the end of the quarter, an increase of 130% YoY and 21% QoQ. At the end of the quarter, Aprila had 5,521 unique customers, an increase of 43% YoY and 3% QoQ. At the end of the quarter, Aprila had 6,217 open customer accounts distributed on Aprila's three lending platforms: spot factoring4 (3,301 accounts), credit line (2,886 accounts) and home rental5 (30 accounts). Financial figures All figures are prepared and presented in accordance with IFRS. Comparable figures from Q2 2021 are presented in brackets. Interest income in the quarter amounted to NOK 22.6 million (NOK 11.1 million), net interest income to NOK 21.2 million (NOK 10.5 million) and total income was NOK 22.9 million (NOK 10.8 million). Total operating expenses amounted to NOK 12.9 million (NOK 14.0 million) of which NOK 5.4 million (42%) in salary and personnel expenses, NOK 5.4 million (42%) in general administrative expenses and NOK 2.0 million (15%) in ordinary depreciation. Losses on loans amounted to NOK 8.4 million (NOK million). Pre-tax operating profit amounted to NOK million (NOK -7.3 million). Total assets at the end of the quarter amounted to NOK 625 million (NOK 465 million) of which NOK 479 million (NOK 339 million) were net loans to customers. Total equity amounted to NOK 166 million (NOK 109 million) and the CET1-ratio was 41.3% (44.8%)6. Total liquid assets amounted to NOK 93 million (NOK 103 million) of which NOK 37 million in bank deposits and NOK 56 million in certificates and bonds. As registered in VPS 28 July 2022. Includes B2B ecommerce accounts (online merchants). Onboarding of new home rental customers ceased in H1 2021. Aprila implemented retail classification on eligible exposures as of 30 September 2021. Numbers for previous periods have been adjusted accordingly­ to make the numbers comparable. Q2 2022 | APRILA BANK ASA 5 Macroeconomic outlook In the second quarter, the Norwegian economy was characterised by high levels of inflation and capacity utilisation. Inflation (CPI) reached 6.3% year-on-year in June, and core inflation (CPI-ATE) reached 3.6%7. Norges Bank raised the key policy rate from 0.75% to 1.25% in June and signalled that the rate may reach 2.25% by year-end and 3.00% by mid-2023. The 1.25 percentage point increase in the key policy rate from September 2021 to June 2022 has, as of the date of this report, resulted in an increase of Aprila's funding cost of around 0.60 percentage points8. In terms of interest income, Aprila is favourably positioned to manage expected future hikes in interest level as the bank's loan agreements provide a high degree of pricing flexibility. Moreover, since the bank offers high-yielding products, the relative effect of the expected increase in interest rates on the customers' borrowing cost is quite modest. In the current macro-economic environment, we consider the key uncertainties for Aprila to be the effect of high inflation and the prevailing geopolitical uncertainty on our customers' credit appetite and quality. Aprila's access to day-to-day accounting data for the majority of its customers provides a unique insight into the customers' financial position and the bank will continue to closely monitor the financial health of its customers and continuously align its risk appetite with the customers' financial performance. Key priorities

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  • When was Aprila Bank founded?

    Aprila Bank was founded in 2017.

  • Where is Aprila Bank's headquarters?

    Aprila Bank's headquarters is located at Kirkegata 5, Oslo.

  • What is Aprila Bank's latest funding round?

    Aprila Bank's latest funding round is PIPE.

  • How much did Aprila Bank raise?

    Aprila Bank raised a total of $20.97M.

  • Who are the investors of Aprila Bank?

    Investors of Aprila Bank include Alliance Venture, Altitude Capital, Arts Alliance, FJ Labs and Strømstangen.

  • Who are Aprila Bank's competitors?

    Competitors of Aprila Bank include Lunar, Starling Bank, Fundbox, Atom Bank, Monzo and 9 more.

  • What products does Aprila Bank offer?

    Aprila Bank's products include Credit Line and 2 more.

  • Who are Aprila Bank's customers?

    Customers of Aprila Bank include Visma, DNB and Storebrand.

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