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 47 million to just over 3,000 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||780 099||1 390 764||1 800 844||2 323 643||6 295 350|
|Other incomes||721 500||548 250||1 043 450||536 550||2 849 750|
|Revenue||1 501 599||1 939 014||2 844 294||2 860 193||9 145 100|
|Operating expenses||-707 172||-619 955||-1 405 188||-1 009 271||-3 741 586|
|Depreciation and write-downs||-30 433||-93 128||-158 756||-234 551||-516 868|
|Personnel costs||0||0||-123 882||-125 165||-249 047|
|Operating profit||763 994||1 225 931||1 156 468||1 491 206||4 637 599|
|Financial posts||-212 284||-377 401||-772 695||-871 577||-2 233 957|
|Profit before tax||551 710||848 530||383 773||619 629||2 403 642|
|Tax||-121 376||-186 677||-84 430||-136 318||-528 801|
|Net results||430 334||661 853||299 343||483 311||1 874 841|
|Loan creditors||25 871 372||32 394 268||46 983 635||48 368 605|
|Funds||655 594||7 609 979||3 023 363||17 865 429|
|Other assets||691 067||1 146 189||2 030 883||2 332 884|
|Sum||27 218 033||41 150 436||52 037 881||68 566 918|
|Debts and own capital|
|Own capital||20 652 243||21 500 771||21 884 543||27 820 105|
|Whereof Preference Shares||0||0||0||5 316 000|
|Long-term liabilities||0||19 250 000||29 250 000||39 250 000|
|Short-term liabilities||6 565 790||399 665||903 338||1 496 813|
|Sum||27 218 033||41 150 436||52 037 881||68 566 918|
The interim financial statements refer to periods 2018-07-01 to 2019-06-30 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.
Victor Wallenberg has a solid background in fintech and development of back office systems for the Nordic countries, both as an employee of Cap Gemini and as founder and owner of Abaris, which created AbaSec which was later purchased by Tieto. Victor currently works as a consultant and project manager, among others at Handelsbanken.
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.
Has more than 30 years of experience from the financial world. He co-founded the Aragon Fund Commission and was also the administrative manager and vice president of Nordnet Bank AB for many years.
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.