Bynk is a Stockholm-based mobile loan app that allows users to request loans up to €28,000 to finance car payments, home repairs, or weddings and manage those loans through the app. Loan periods are typically between 3 and 12 years, with interest rates ranging from 4.95% to 17.55%. The company says it is building a European mobile bank and plans to broaden its product portfolio with cards, peer-to-peer loans, and other loan products while expanding across Europe. Bynk launched in 2017 (about 18 months before the article) and has been growing quickly since. Financially, Bynk received €48 million in equity funding from Schibsted and LMK Industri, bringing its valuation to €190 million and giving Schibsted a 32% stake. The company intends to use the capital to build its brand and release new products.

Total raised

$54M

Funding rounds

1

Latest round

Equity

Latest activity

Feb 2019