kompasbank raises DKK 140 million in series A funding round

kompasbank, Denmark’s newest business bank, closed a series A funding round last week, securing DKK 140 million from existing seed investors and a number of new backers. The investment is intended to accelerate lending to small and medium-sized enterprises (SMEs) in the Danish market. The existing seed investors and new investors include a range of prominent Danish and international private equity professionals, business angels, and Fintech entrepreneurs.

“We are excited about the support from ambitious and successful investors who see the potential in a bank focused on SMEs, combined with a new digital infrastructure,” says Michael Hurup Andersen, Founder and CEO of kompasbank. “We believe the time is right to take a moment to thank the team for their hard work, the assistance and support from our investors, and the constructive collaboration with the authorities over the past year, which has been an extraordinarily unusual time.”

Chairman of the Board and founding investor, Jeppe Brøndum, adds: “We are excited to launch kompasbank with the latest technological infrastructure for banks, and we believe it will prove its worth to SMEs in the current challenging environment. SMEs are the backbone of our economy, and they need efficient access to capital and service in the coming years to both maintain and grow their businesses, while also focusing more on adapting to a greener economy. We are incredibly eager to open our doors to our customers in the coming months.”