Top Startups / January 5, 2021
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

Top Swedish Startups to Watch in 2021

Sweden is a country that is known for many things, IKEA, the world-famous pop group ABBA and many more things. It may be surprising to know that the country also has a very healthy startup ecosystem. Some of the businesses that have come out of the country include music giant Spotify and e-commerce behemoth Klarna. All this goes to show that Swedish startups have massive potential for growth and impact.

Sweden had over 10,000 startups in 2019, despite a population of only 10.4 Million people. In fact, the relatively high taxes in Sweden have not deterred entrepreneurship here. Here at Startup Stash, we're listing the top startups across countries to look out for in 2021. Therefore, of the 10,000 startups, we selected the top Swedish startups to watch in 2021 in this list.

 

1. Anyfin

Year Founded: 2017

HQ: Stockholm, Sweden

Size: 51-100

Founder: Filip Polhem, Mikael Hussain, Sven Perkmann

Anyfin Website

Anyfin is a Fintech startup operating in Sweden that helps people to save money on expensive financial products, such as loans and credit cards by refinancing them with lower rates using artificial intelligence and public data on consumer rates. Customers will achieve this by taking a photo of their loan statement and repayment history and sending it through their Facebook page or website. This gives a better idea of a customer’s creditworthiness than a credit score would.

Currently, Anyfin has received investment interest from a variety of sources, achieving a total of $44.9 Million from five investors. From this, it is clear that there is a belief in the business model and it will be interesting to see if this Swedish startup can continue to perform well in the second year of the 2020s.


2. Lendify

Year Founded: 2014

HQ: Stockholm, Sweden

Size: 11-50

Founder: John-Christian de Champs, José Cartro, Nicholas Sundén-Cullberg

Lendify Website

Lendify is a Swedish challenger bank that is looking to attack the market share of traditional banks by offering customers improved banking services, with lower interest rates and loans and higher rates of returns on savings. Continued loyalty from customers can also see them gain access to a range of rewards, including even lower interest rates. The revolution of challenger banks is also going strong in the Scandinavian country.

Lendify has already received unprecedented and extensive levels of investment from third parties, with $553.4 Million being raised from three different investors, and with this level of backing, as well as falling consumer support of traditional banks, it’s likely that Lendify will enter a strong position in the Swedish banking market in 2021.


3. Kreditz

Year Founded: 2018

HQ: Stockholm, Sweden

Size: 11-50

Founder: Roni Zacharion

Kreditz Website

Kreditz is a Fintech and credit startup that seeks to help businesses to validate their consumer and small-medium business customers by analyzing open banking data, along with transactional data to get an idea of income levels, credit scores and to help satisfy Know-Your-Customer (KYC) regulations. They are used across a number of industry sectors, including lending, gambling, insurance, financial auditing, and more.

When this article was written, Kreditz had received a noticeable amount of investment from other entities, totaling the amount of 28 Million Swedish Krona, leveling out to around $3.39 Million USD. With this level of outside support and a strong offering, it should be a good year for the team at this Swedish startup.


4. Bitrefill

Year Founded: 2014

HQ: Stockholm, Sweden

Size: 11-50

Founder: Patric Stiller, Sergej Kotliar

Bitrefill Website

Bitrefill is a cryptocurrency-related startup that offers customers the opportunity to purchase gift cards, mobile credit top-ups, and other services through using cryptocurrencies. Their services also stretch far and wide meaning that more and more people are going to be able to use cryptocurrencies to leave because of the fact that 1600 products in 170 nations. Additionally, the best part is that they require no login or registration so you can maintain your privacy.

Currently, Bitrefill has managed to achieve an investment of $2.1 Million from six investors since being founded in 2014 and it wouldn’t be surprising to see increased interest in their services as the adoption of cryptocurrencies increases in 2021.


5. Capcito

Year Founded: 2014

HQ: Stockholm, Sweden

Size: 51-100

Founder: Henrik Dyberg, Mattias Axlind, Michael Hansen, Niklas Möller

Capcito Website

Capcito is a Fintech startup that provides working capital to small and medium-sized businesses in the form of several financial products. These products include invoice factoring, discounted invoices, and B2B loans; these can be simply accessed through integrations with banking services and cloud accounting solutions. They aim to improve the affordability of their loans and assessing creditworthiness by use of their lending platform and credit scoring engine.

Since their founding in 2014, the company has managed to sway six investors into buying into the company, raising a total of $1.5 Million which can be used to fund their ongoing operations and growth. It will be interesting to see how this Swedish startup performs in the ongoing COVID-19 economy in 2021.


6. Mitigram

Year Founded: 2014

HQ: Stockholm, Sweden

Size: 51-100

Founder: Marjon Wohlen

Mitigram Website

Mitigram is a Fintech startup that claims to operate the biggest marketplace for trade finance in the world. Operating with redundant server systems and other security features such as those provided in ISO 27001 means that users will have their data kept safely, with easy access for the data subjects. This helps businesses that are looking for trade finance to find the best quotes, and it helps the trade finance companies to find new customers.

Since being founded by Marjon Wohlen in 2014, the company has gone from strength to strength, eventually raising 155 Million Swedish Krona from four investors, equating to roughly $18.79 Million in investment. With these investments and its business model, Mitigram is an enticing company to watch in 2021.


7. Billogram

Year Founded: 2010

HQ: Stockholm, Sweden

Size: 11-50

Founder: Cesar Sangchi, Jonas Suijkerbuijk

Billogram Website

Billogram is a Fintech startup that seeks to take the stress out of invoicing for SMEs by operating a cloud-based invoicing system that integrates with other accounting software packages and helps businesses to track their cash flow status. In addition to this, customers are able to gain information on an invoice’s status and receive real-time information on any incoming payments that are due.

Founded in 2010, this Swedish startup has slowly but surely gained a solid level of investment over the previous decade, with $11.2 Million being raised from a group of four different investors who have come on board with the idea. With the current situation with the COVID-19 pandemic, it is critical for businesses to take control of their invoices and this should put Billogram into good stead for 2021.


8. Safello

Year Founded: 2013

HQ: Stockholm, Sweden

Size: 11-50

Founder: Frank Schuil, Ludvig Öberg

Safello Website

Safello is a cryptocurrency and Fintech startup that operates its own cryptocurrency exchange and also offers the opportunity for businesses to invest in cryptocurrencies through their platform. This process is untouched by banks and as such, users are not vulnerable to service issues relating to the banks, or any other nefarious ongoings that could occur as a result.

Safello has been an earlier player in the cryptocurrency market, being founded in 2013 and raising $2.1 Million through public crowdfunding since then. Interestingly, the company is currently looking towards an IPO in 2021, having acquired Cyrex Group and BT Technology Inc in 2017 and 2016 respectively. This is gearing up to be a big year for the Swedish exchange.


9. Steven

Year Founded: 2016

HQ: Stockholm, Sweden

Size: 11-50

Founder: Fredrik Olofsson, Jens Saltin

Steven Website

Steven is a Fintech company that operates a mobile app geared towards helping people settle their personal debts in a non-intrusive manner. It notifies people once they've paid off their debts, and sends formal automatic reminders to individuals that haven’t. The app also allows splitting payments and this is a great way to ensure that shared debts get paid.

The company has successfully raised $2.4 Million to fund new developments of the app and product offerings; this funding has been raised by seven different investors. They’ve come a long way since 2016 and it’s likely that this Swedish startup will continue its good form going into the new year.


10. Insurello

Year Founded: 2016

HQ: Stockholm, Sweden

Size: 11-50

Founder: Marcus Janbak

Insurello Website

Insurello is an insurance startup that seeks to take the difficulty out of making insurance claims and maximize the available payout received by customers. They achieve this through their smart technology which analyses each applicable insurance policy. Through their insight, you can create new insurance cases through Insurello if something were to happen to you. This makes the process of claiming quicker and easier.

Insurello has successfully acquired $11.7 Million in startup funding since being incorporated in 2016, which was cumulatively committed by a group of eight investors, with the latest being achieved in June 2020. This shows faith in the business model and their potential to make insurance easier for people in Sweden and beyond.


11. Funnel

Year Founded: 2013

HQ: Stockholm, Sweden

Size: 51-100

Founder: Fredrik Skantze, Per Made

Funnel Website

Funnel is an advertising and analytics startup based in Stockholm that seeks to get rid of the manual processes involved in collecting data. Users will be able to integrate each of their marketing platforms and feed their data into them automatically, whether this is Google Sheets, Google Analytics, or other tools to visualize data. Clients like Samsung, Adidas, and Superdry have used Funnel in the past.

Funnel has received an impressive and extensive amount of outside startup funding, with $68 Million being raised since its founding in 2013 from seven investors. With the prestige of the businesses they’ve worked with and the versatility of their offering, it will be exciting to watch this Swedish startup's progress through 2021.


12. Acast

Year Founded: 2013

HQ: Stockholm, Sweden

Size: 101-250

Founder: Johan Billgren, Karl Rosander, Mans Ulvestam

Acast Website

Acast is an audio and podcast startup with a difference, allowing creators to both connect with new audiences to grow their listener base, whilst also allowing them to find the financial resources that they need to continue making their own content. This combination of features sets them apart from services like Spotify and they already have a lot of podcasts to offer, for a variety of different listener tastes.

Acast has been very active in the fundraising arena, having gained a grand total of $126.2 Million in outside investment from a total of ten investors. They have also made an acquisition in 2019, when they acquired American podcasting startup, Pippa, in 2019. With podcasting streams and other forms of audio down due to the COVID-19 pandemic, the support provided by Acast could be a lifeline for many content creators in 2021.


13. Teamtailor

Year Founded: 2012

HQ: Stockholm, Sweden

Size: 11-50

Founder: David Wennergren, Erik Andersson, Richard Johansson

Teamtailor Website

Teamtailor is a recruitment software Swedish startup that seeks to assist its users with attracting and hiring the best talent that will allow their business to grow and thrive. The product offering that allows them to do this is Teamtailor’s provision of career sites to help employers stand out, as well as the ability to easily manage multiple candidates in the hiring process simultaneously using their services. There is also a chat service that can allow users to get in touch with potential recruits and discuss their hiring situation.

Since its inception in 2012, one outside investor has invested a large sum into Teamtailor. This came in the form of a 5 Million Euro investment from Sprint Capital to help the team fund their product development needs. It will be a great pleasure to see Teamtailor’s progress in 2021.


14. KRY

Year Founded: 2015

HQ: Stockholm, Sweden

Size: 501-1000

Founder: Fredrik Jung Abbou, Joachim Hedenius, Johannes Schildt, Josefin Landgård

KRY Website

KRY is a powerhouse medical technology startup that helps people to digitally manage their health. Users can book appointments, provide information on symptoms, and receive advice on symptom-management through the app. Additionally, users can receive follow-ups and prescription medication through the app, with an option for home delivery for the latter. This makes healthcare easier and less stressful, especially for those that may be seriously ill.

KRY has, as previously mentioned been a powerhouse in the sense of gaining outside investment, with the company receiving $251.8 Million from only six investors. Furthermore, the company has been active with acquisitions, having bought out the advice app Enjo in 2019. With the COVID-19 pandemic making medical help less safe, companies like KRY can help people get the assistance they need. This feature will be key going into 2021.


15. &frankly

Year Founded: 2014

HQ: Stockholm, Sweden

Size: 11-50

Founder: Caroline Fjellner, Peder Nordvaller

&frankly Website

&frankly is an employee engagement and HR startup that allows organizations to generate pulsed surveys that can be created and tailored to the culture and internal guidelines of the business. Furthermore, they will be able to send quick and timely questions to employees on items such as meetings, points of change in the business, and more. Different departments can received tailored questions for greater precision.

&frankly has managed to achieve a respectable amount of investment from third parties, with the company amassing a total investment of 13 Million Swedish Krona from a solitary investor. This equates to roughly $1.58 Million. This Swedish startup is definitely one to watch in 2021.


16. Budbee

Year Founded: 2015

HQ: Stockholm, Sweden 

Size: 101-250

Founder: Axel Warg, Fredrik Hamilton

Budbee Website

Budbee is a Stockholm-based delivery startup that seeks to spell the end of poor delivery services that constantly give businesses and consumers numerous issues. With Budbee, customers can give specific instructions to delivery people about how they should deliver their packages. You can specify delivery location and even how they should alert you about their arrival. You’ll also be able to track your delivery from your phone.

Budbee has raised a significant amount of third-party investment from eight different investors, totaling a whopping $49.4 Million since being founded in 2015. With COVID-19 forcing more people to shop online, the online delivery business model is growing even stronger and it won’t be a surprise to see an incredibly strong 2021 from Budbee.


17. Glue Home

Year Founded: 2014

HQ: London, United Kingdom

Size: 11-50

Founder: Carl Johan Grandinson, Diego Oliva

Glue Home Website

Glue Home is a home service and e-commerce startup that focuses on getting users to access a wide range of home services and deliveries whilst they’re out of the house. Their users operate digital keys and smart locks, allowing service providers to safely enter the home at the user's convenience. Therefore, you no longer have to stay home for a delivery or to let the plumber into your house.

The Swedish startup has done well with gaining support for its interesting and innovative idea, garnering support from eight investors to the tune of $12.6 Million in funding. With Glue Home providing the answer to a problem that has inconvenienced many worldwide, it would be surprising if they don’t have a great year in 2021.


18. Adverty

Year Founded: 2016

HQ: Stockholm, Sweden

Size: 11-50

Founder: Niklas Bakos

Adverty Website

Adverty is an advertising and virtual reality startup that is seeking to change the way that advertising is done. Their VR technology and BrainImpression algorithm (patent-pending) brings visibility to advertising campaigns and allows brands to connect with consumers. They also have a monetization platform that allows content creators to get money from native advertising.

Being a relatively new startup, founded in 2016, their inventive idea has seen the company receive $3.8 Million in startup funding from three investors. With VR technology continuously improving, it would be inspiring to see Adverty break new ground and have a fantastic 2021.


19. AppJobs

Year Founded: 2017

HQ: Stockholm, Sweden

Size: 51-100

Founder: Alok Alström, Bertan Baytekin, Tomas Lund

AppJobs Website

AppJobs is a Stockholm-based employment startup, focused on the gig economy. Their service allows those seeking employment to connect with well-known gig companies such as Uber, Postmates, and many more. The best part is that these applicants don’t need to worry about sending a resume or applying traditionally, making the service more flexible and easy for gig workers.

The Swedish startup has had a good gig going since being founded in 2017, with 10.4 Millon Euros in funding being raised across the space of their four years of trading. With people struggling for employment at the moment and the gig economy looking more attractive than ever, it wouldn’t be shocking to see more people using AppJobs to earn a bit of extra money this year.


20. Kognity

Year Founded: 2014

HQ: Stockholm, Sweden

Size: 51-100

Founder: Hugo Wernhoff, Nicholas Johannson

Kognity Website

Kognity is an e-learning and education startup that has the vision to improve the way in which the world’s school students gain access to learning materials. This is because education is one of the best ways to solve the problems of poverty in the world. Kognity replaces written textbooks with a more innovative and modern solution that can improve student engagement.

Kognity’s message and vision of providing better educational resources for students have seen the educational startup receive $7.1 Million in funding to support the development and growth of their online textbook platform.


21. Mindler

Year Founded: 2018

HQ: Stockholm, Sweden

Size: 11-50

Founder: Rickard Lagerqvist

Mindler Website

Mindler is a psychology startup that seeks to help people that are struggling with their mental health to gain access to the assistance they need, as we all struggle at some point in our lives. Users can choose from 150 different psychologists to talk to or enroll in a self-help program. The best part about this service is that users receive an appointment time within 24 hours.

This Swedish startup's service has already attracted attention from a number of investors, which has allowed the team to receive $13.2 Million in investment to fund the development of their platform and help them in their mission to provide those who are struggling with easy access to psychology services.

Top Swedish Startups to Watch...
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

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