Continued European expansion for SaveLend Group through license passporting

SaveLend Europe AB (“the Company”), a subsidiary of SaveLend Group AB (publ) (“SaveLend Group”), is licensed as a payment institution and is thus under the supervision of Swedish Financial Supervisory Authority (Finansinspektionen). The Company has now passported its license to 13 markets in Europe, which lays the foundation for the continued expansion journey.

In order to provide payment services in Sweden, a license from the Swedish Financial Supervisory Authority is generally required. The license requirement applies to services that enable the transfer of funds on behalf of others. With the license comes the right to provide payment services in other EU countries. A payment institution notifies the Swedish Financial Supervisory of its intention to provide such cross-border activities, which then notifies the country in which the activity is to be conducted (passporting). SaveLend Group is currently preparing to expand the savings platform in Europe, and as a first step, the Company has passported the payment license to 13 European markets. In connection with this, Fixura Ab Oy will be launched as an originator of credits denominated in Euro on the savings platform SaveLend.se. Through the international expansion and launch of credits in Euro on the platform, SaveLend Group further strengthens its offering and significantly increases the capacity for investors and savers.

“This is a natural step in our international expansion. Investing in credits is well known globally, and we have seen strong interest from customers in other countries to take advantage of SaveLend's broad offer. With an average return of 9.4% after credit losses and fees over the past 12 months, we stand strong against our European competitors ", Ludwig Pettersson, CEO of SaveLend Group AB.

Source: MFN

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