The market for unsecured loans has a turnover of about SEK 225 billion annually and has a growth rate of 8 percent according to the Swedish SCB.
The Swedish lending market has unique opportunities to make secure credit assessments, which creates good conditions for the market and Untie Lending to continue to grow.
The company has had a flying start since November 2017. Today, Untie Lending has lent more than SEK 117 million to just over 5,600 customers and was able to show positive working capital already in the first quarter. This has given us good proof that our products are attractive and that our credit model works.
Thanks to a fully automated and digital identification, we have created a simple application process with small credit losses. We are now ready to take the next step in our growth journey.
In connection with our expansion, we offer you to invest in the company. With the addition of capital, we can meet the market demand and at the same time give you a really good return.
Erik Hagelin, CEO
Solidity: Adjusted own capital / Balance sheet total, Operating margin: Operating profit / Net sales, Net margin: Profit after financial items / Net sales
|Interest income||6 374 992||5 605 503|
|Other incomes||2 849 750||2 579 608|
|Revenue||9 224 742||8 185 111|
|Operating expenses||-5 193 890||-4 232 324|
|Depreciation and write-downs||-516 866||-1 198 079|
|Personnel costs||-249 047||-226 229|
|Operating profit||3 264 939||2 528 479|
|Financial posts||-2 313 329||-2 028 709|
|Profit before tax||951 610||499 770|
|Loan creditors||46 998 288||74 393 077|
|Funds||17 832 562||8 353 428|
|Other assets||2 356 636||4 214 413|
|Sum||67 187 486||86 960 918|
|Debts and own capital|
|Own capital||25 416 463||35 090 206|
|Whereof Preference Shares||5 316 000||14 728 000|
|Long-term liabilities||39 250 000||49 250 000|
|Short-term liabilities||2 521 023||2 620 712|
|Sum||67 187 486||86 960 918|
* Refers to interim report for the period 2019-07-01 to 2019-12-31 and have not been audited.
The annual report (Årsredovisning) applies to Credit Sweden AB, which was the company name before the change of name.
Stefan Willebrand has created and developed companies in finance and technology since 1998. He founded a company that published technical analysis of the global financial market and was a writer for Private Business. In recent years, Stefan has founded a US-based hedge fund and several companies, SYCAP Group, Bricknode and LendyTech through the investment company Willebrand Invest. In 2018, the Willebrand Invest group became Untie Group AB.
Erik Hagelin joined Untie Group in 2016 with long experience as a entrepreneur in real estate development, IT and e-commerce.
Emelie Willebrand joined SYCAP Group as administrative manager and business developer in 2008. She worked within SYCAP Group until the centralization in London in 2010. Emelie started at Bricknode in 2010 and then became office manager at LendyTech 2015. When Bricknode and LendyTech were acquired by Untie Group 2018 she became office manager and administrative head of the entire group.
Ernst & Young AB
Other assignments at Klarna, Intrum, Handelsbanken and Trustly.
Internal auditing only works with Untie AB at present, but the audits carried out there can often be generalized to other parts of the Group.
The Untie Group has three independent control functions; Risk Officer, Compliance Officer and Internal Audit. The Risk Officer and Compliance Officer together form the Group's second line of defense, while Internal Audit is the third line of defense. The Risk Officer exercises overall risk control and monitors the Group's risks, primarily credit risks and operational risks.
The company's Board of Directors is regularly informed of risk control matters. The role is separate from the business operations and reports directly to the CEO on matters relating to the area of responsibility.
The Compliance Officer is the Corporate Group's function for enforcement, which serves as an independent control and support function for the business that reports directly to the CEO on matters relating to the area of responsibility and informs the corporate boards continuously and as needed during the year.
The Compliance Officer is responsible, among other things, for monitoring and controlling compliance with the licensed business, as well as providing advice and support to the business operations and management in matters related to laws and other rules that apply to the licensed business.
In terms of the line, both the Risk Officer and the Compliance Officer are subordinate to the Group's Chief Counsel and are part of the Legal Department.
Internal Audit, which is outsourced to an external party, is an independent audit function that is directly subordinate to the Corporate Board of Untie AB. The internal auditor is responsible for evaluating the management of risks, control and control processes and that the operations are conducted in accordance with the intentions of the Board of Directors and the CEO. The internal auditor reports on an ongoing basis to the Board of Directors and the CEO. The Board of Directors annually establishes a plan for the work of the internal audit. The CEO reports to the Board of Directors on measures taken on the basis of reporting from the internal auditor.