The largest Nordic banks are betting on fintech startups across the globe to prevent getting left behind in financial innovation.
The European Union’s financial infrastructure is digitizing rapidly, and the Nordic region’s biggest banks are racing to keep up.
These banks are showcasing their forward-facing attitudes toward financial technology through their investments. Banks such as Nordea and Swedbank have invested in fintech startups based in the US, Sweden, Denmark, Iceland, and beyond.
We used CB Insights data to track and analyze the investments of the largest 7 Nordic banks by asset under management.
The countries we include in our definition of the Nordic region are Denmark, Finland, Iceland, Norway, and Sweden. Our list includes:
- Sweden-based Nordea Bank and its venture arm, Nordea Ventures
- Denmark’s Danske Bank Group
- Sweden’s Handelsbanken
- Sweden’s Skandinaviska Enskilda Banken (SEB) and its venture arm, SEB Venture Capital
- Sweden’s Swedbank, its venture arm, Sparbanksstiftelsen Norrlands Riskkapitalstiftelse, and its wholly-owned mutual fund manager Swedbank Robur
- Norway’s Deb Norske Bank (DNB)
- Finland’s OP Financial Group