The Swedish Market for Crowdlending
According to data from the latest report by Cambridge Centre for Alternative Finance on alternative finance and crowdfunding in Europe, Sweden had a total funding volume of €266.1 million in 2018. In 2017, Sweden had a total funding volume of €196,1 million, which placed the country as the seventh-largest country in the region after the UK, France, Germany, the Netherlands and Italy. However, if we exclude the UK, Sweden was represented in the top 3 in both real estate crowdfunding, equity-based crowdfunding, and P2P property lending. Out of the total Swedish alternative finance funding volume in 2017, € 77.1 million or 39.3% came from peer-to-peer lending (in Sweden also often known as crowdlending).
Below, you will find a complete list of all crowdlending platforms operating in Sweden, followed by a presentation of the latest data on the Swedish market for P2P lending.
Table of Contents
Best Crowdlending Platforms in Sweden
Here, you will find a list of the top peer-to-peer lending platforms in Sweden. Under each platform, you will find a brief description of the platform and the type of peer-to-peer lending available for investing on the platform. The list is sorted alphabetically, but to promote platforms contributing to transparency in the market, we have placed the platforms sharing data about their funding volume and other relevant statistics on the top. If you see a platform missing, please feel free to submit the platform by using the submit formula located in the sidebar of this page.
Kameo Facilitates crowdfunding in the area of real estate lending in Sweden at a minimum investment of 500 SEK. The platform offers different kinds of real estate loans such as building credit, housing loans, bridge loans, renovation, business loans, rental property among others. Kameo was founded in 2014 by Sebastian Harung as a Swedish company. The headquarter and company is located in Stockholm, Sweden but the platform also offers financing from its offices in Denmark and Norway. Loans are in Swedish Kronor(SEK), Danish Kroner(DKK) and Norwegian Kroner(NOK).
Any Swedish person or company registered in Sweden can invest on Kameo.
Any Swedish real estate company or company with real estate to put as collateral can apply on Kameo if the following conditions apply:
- Established as a Limited company
- Positive equity
- Be able to present updated financial information no older than three months
- Have submitted at least one annual report
- Can obtain approved credit rating from UC, Bisnode or similar
Brocc facilitates crowdfunding in the area of consumer lending to Swedish citizens at a minimum investment of 250 SEK per loan and 10.000 SEK as first deposit. The platform offers unsecured loans to individuals for purposes such as buying a car, boat, vacation, camper van, wedding, renovation, drivers license among others. Brocc was founded in 2014 by Claes Melander as a Swedish company. The office and company is located in Stockholm, Sweden and exclusively offers financing to Swedish residents. All loans are in Swedish Kronor(SEK).
Lendify facilitates crowdfunding in the area of consumer lending to Swedish residents at a minimum investment of 1 SEK. The platform offers unsecured loans for the purchase of different purposes such as vehicles, health care, housing, renovation, and refinancing among others. Lendify was founded in 2014 by John-Christian de Champs, José Cartro, and Nicholas Sundén-Cullbergas as a Swedish company. The office and company is located in Stockholm, Sweden and exclusively offers financing to individuals with a Swedish residency. All loans are in Swedish Kronor(SEK).
Savelend facilitates crowdfunding in the area of SME business lending, consumer lending, invoice lending and debt portfolios from loan originators in Sweden at a minimum investment of 500 SEK. The platform offers loans from the loan originators Billecta Finance(invoices) Loanstep(consumer loans) and Partner Debt Collection(Debt portfolios). Savelend was founded in 2013 by Ludwig Pettersson as a Swedish company. The office and company is located in Stockholm, Sweden and exclusively offers loans from Swedish loan originators. All loans are in Swedish Kronor(SEK).
Tessin facilitates crowdfunding in the area of real estate business lending and real estate equity funding to Swedish companies at a minimum investment of 50,000 SEK or 1/200 of the project amount. The platform offers financing for construction, reconstruction, development, bridging, leasehold financing, acquisition, expansion among others. Tessin was founded in 2014 by Erik Nordin, Jonas Björkman and Niels Bosma as a Swedish company. The office and company is located in Stockholm, Sweden and exclusively offers financing to Swedish real estate companies. All loans are in Swedish Kronor(SEK).
Toborrow facilitates crowdfunding in the area of SME business lending to Swedish companies at a minimum investment of 100 SEK. The platform offers financing for business growth projects, acquisitions, and working capital among others. Toborrow was founded in 2013 by Andreas Thorstensson and Sofie Lundström as a Swedish company. The office and company is located in Stockholm, Sweden and exclusively offers financing to Swedish SME companies. All loans are in Swedish Kronor(SEK).
Any natural or legal person of at least 18 years old. It is also possible to invest with your limited liability company through your personal Toborrow acount.
Any Swedish company with a financing volume between 100.000 SEK and 5.000.000 SEK and a duration from 3 to 36 months can apply for a loan if they fulfills the following requirements:
- Be a limited company
- Have a turnover of at least 1 million SEK
Trine facilitates crowdfunding in the area of solar energy business lending to solar energy companies throughout the world at a minimum investment of €25. The platform offers financing to companies that work with solar energy and focuses on making an impact on the world. Trine was founded in 2015 by Andreas Lehner, Christian Genne, Christoffer Falsen and Sam Manaberi as a Swedish company. The office and company is located in Gothenburg, Sweden but works with companies all over the world, though mostly in developing countries. All loans are in Euro(EUR).
Crowdfunding and Alternative Finance in Sweden
A valuable source of data to visit for a view on the historical development of alternative finance and crowdfunding in Sweden is the Cambridge Centre for Alternative Finance, who published their first report on the European market for alternative finance in 2015. In 2020, the institute published its first global report on alternative finance, which included a total of 1,227 unique firms with 2,322 firm-level observations. Here, eight firms were registered as domestic firms and 15 were registered as foreign-based platforms operating in Sweden. The report primarily covers the four main types of crowdfunding: lending-based crowdfunding, equity-based crowdfunding, reward-based crowdfunding and donation-based crowdfunding. Because the report uses survey data the latest data available is from 2018.
The total Swedish market for alternative finance in 2018 was €266.1 million up from €196.1 million in 2017, which corresponds to a growth rate of 35.7%. In 2017, the market in Sweden grew by an impressive 127.8%, %. In 2017, the market in Sweden grew by an impressive 127.8%, so despite the double-digit growth in 2018, it represents a slight slowdown compared to earlier years. In the figure below, you can see the market development in Swedish crowdfunding and alternative finance from 2015-2018.
Statistics About Crowdlending in Sweden
In the period 2015-2018, a study published by Christoph Bertsch and Carl-Johan Rosenvinge from the Swedish Central Bank (Sveriges Riksbank) shows a total origination volume from P2P lending in Sweden of SEK 4.4 billion. The numbers include data from the 8 largest peer-to-peer platforms in Sweden. The development is shown in the figure below, which uses data from the Swedish Central Bank.
The platforms included in the study were: Lendify, Brocc, Savelend, Trine, Toborrow, Kameo, Tessin, and the now-bankrupt TrustBuddy. TrustBuddy filed for bankruptcy in October 2015, which is likely to explain the sharp drop we see in the second half of 2015.
Taxation on Peer-to-Peer Loans in Sweden
In Sweden, the interest earned from peer-to-peer loans is taxed as regular capital income (30%) just as e.g. interest earned on a saving account. The platform will often help you report your return and automatically withdraw 30%. If you have had any interest expenses in the income year, it is possible to get a tax deduction on the interest earned through crowdlending. It is also possible to offset a loss against your profits.
You can find a brief guide on how to make your tax declaration here. If you are interested in learning more about how P2P lending and crowdfunding is taxed in Sweden, you might also find these directions from the Swedish Tax Agency worth a read.
Regulation on Crowdlending in Sweden
Since there is still a lack of common rules for crowdfunding in the European Union, regulation of peer-to-peer in Sweden is based on national legislation though this might change in the foreseeable future as the European Commission in March 2018 presented a proposal for a regulative framework on crowd and P2P finance as part of their Fintech Action Plan. As for now, most peer-to-peer lending platforms in Sweden are registered as payment institutions (betalningsinstitut), as this covers a broader range of activities, but some are also registered as financial institutions (finansiellt institut).