DBT

What DBT does

DBT Capital AB is a Stockholm-based non-bank lender specializing in growth and working-capital financing for Swedish small and medium-sized enterprises (SMEs) with minimum turnover of SEK 15 million. Founded in 2017, the company originated business loans of SEK 5–50 million with maturities of up to 7 years and amortization-free periods of up to 24 months, alongside specialized modules including Tillväxtlån (Growth Loans, SEK 3–35M), Refinansiering, Företagskredit (revolving facility, SEK 3–10M), acquisition financing (up to 70% of purchase price), equipment financing, and an Innovationslån product aimed at AI, IoT, and automation projects. Its product suite is positioned as complementary to existing bank relationships rather than as a substitute, and decisions are typically issued in approximately 5 business days.

The company's underwriting is supported by a proprietary credit analysis platform built on React, TypeScript, and Node.js, hosted on AWS, that ingests real-time business data and combines automated risk analytics with human credit expertise. Loan administration is handled through nCino and Aura, digital signing via GetAccept, and KYC/AML through Trapets. The GTM model is sales-led and direct, sourcing borrowers through an online onboarding portal, specialist consultations, a podcast ("Väx Upp med Alexis Kopylov"), community events ("Growth Dinners"), and a referral network of VCs, PE firms, family offices, and board members. DBT monetizes exclusively through interest income on its lending book, with rates individually priced from 4.95% based on credit risk and term.

Since inception DBT has supported over 300 Swedish companies and originated more than SEK 2 billion in cumulative lending. Capital is sourced via a SEK 3.1 billion (~US$285M) debt facility from NatWest and Värde Partners (2022), a separate up-to-SEK 1 billion NatWest Markets N.V. facility, an EIF guarantee of up to SEK 285 million backed by the EU InvestEU program (2024), and balance-sheet funding from parent NOBA Bank Group following its February 2, 2026 acquisition of DBT Capital AB for SEK 397 million.

Name

DBT

Legal name

DBT CAPITAL AB

Website

https://dbt.se

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

DBT Capital AB is a Stockholm-based non-bank lender providing SEK 5–50 million business loans, growth financing, and acquisition loans to Swedish SMEs with minimum SEK 15M turnover, using a proprietary real-time credit analytics platform.

Ownership category

akta.pro rank

Product category

SME Business Lending

NAICS

Credit Intermediation and Related Activities (522), Activities Related to Credit Intermediation (5223)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industry

B2B / Invoice-Based BNPL (Trade Credit at Checkout) (FSAGAIAC)

Keywords

• SME business lending
• Non-bank financing
• Credit assessment platform
• Growth capital loans
• Nordic lendtech

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Interest Income from SME Lending: DBT generates revenue through interest income on business loans provided to Swedish SMEs. Loans range from 5-50 million SEK with terms up to 7 years and up to 2 years amortization-free periods.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

DBT provides flexible business loans ranging from 5 to 50 million SEK to Swedish small and medium-sized enterprises (minimum turnover 15 MSEK), with maturities up to 7 years and amortization-free periods up to 2 years. The company offers specialized loan types including growth loans, refinancing, working capital, acquisition financing, equipment financing, innovation loans, and revolving business credit. Loan decisions are powered by a proprietary real-time data analysis platform that combines automated credit assessment with human specialist expertise, delivering credit decisions in approximately five business days.

Product overview

DBT offers a unified business lending platform called Företagslån (Business Loans), which serves as the core product through which multiple specialized loan modules are delivered. The portfolio includes Tillväxtlån (Growth Loan, SEK 3–35M, up to 5 years) for long-term expansion capital; Refinansiering (Refinancing) for consolidating existing debts; Rörelsekapital (Working Capital) for liquidity bridging; Företagsförvärv (Acquisition Loan) covering up to 70% of purchase price; Maskinfinansiering (Equipment Financing) for machinery; Innovationslån (Innovation Loan) for AI, IoT, and automation projects; and Företagskredit (Business Credit, SEK 3–10M) as a revolving facility. All loans are supported by a proprietary real-time credit analysis platform, offered to Swedish Aktiebolag with minimum turnover of SEK 15M, and backed by InvestEU guarantees via EIF.

Differentiator

Problem solved

Functional benefit

Products and services

• Företagslån (Business Loans) DBT's flagship lending product offering SME business loans ranging from 5 to 50 million SEK with flexible terms up to 7 years and amortization-free periods of up to 2 years. Loans are standalone from other banking services, enabling companies to retain existing bank relationships while supplementing with DBT financing. Interest rates are individually set, starting from 4.95% for refinancing.
• Tillväxtlån (Growth Loan) Dedicated growth loan product offering 3–35 million SEK for up to 5 years, designed for companies seeking long-term investment capital to develop new technology, improve offerings, or enter new markets. Includes repayment terms of 1–5 years with up to 6 months amortization-free.
• Refinansiering (Refinancing) Refinancing product that allows companies to consolidate multiple expensive credits into a single loan with better terms, lower interest costs, and extended tenors, freeing up capital for new investments. Interest rates start from 4.95% for refinancing.
• Rörelsekapital (Working Capital Loan) Working capital financing that frees up liquidity when needed, designed to bridge the gap between expenses and revenues during growth phases, seasonal variations, or extended payment terms.
• Företagsförvärv / Förvärvslån (Acquisition Loan) Acquisition financing for buying established companies, offering up to 70% of the purchase price with optimized solutions based on the buyer's needs, including support for both share purchases and asset deals.
• Maskinfinansiering (Machine/Equipment Financing) Financing solutions for acquiring machinery and production equipment, helping companies increase production capacity with tailored loan structures.
• Innovationslån (Innovation Loan) Financing for innovation projects in areas such as machine learning/AI, Internet of Things (IoT), and automation, aimed at helping companies adopt modern technology to gain competitive advantages.
• Företagskredit (Business Credit) Revolving credit facility of 3–10 million SEK designed for companies with ongoing expenses and short-term liquidity needs, complementing other DBT financing solutions.

Quantifiable outcome

• DBT-backed companies grow seven times faster than other SMEs
• +2 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability1 record

Feature2 records

Partnerships

Two partnerships are on record, tiered minor.

• Nordic Trustee & Agency AB (publ)minorOthersNordic Trustee & Agency AB (publ) is appointed as security agent according to the loan agreement with NatWest.
• Citibank Europe plcminorOthersCitibank is appointed as cash manager, agent, and registrar according to the loan agreement with NatWest.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Qred: Qred is a Swedish-founded direct SME lender offering small business loans and credit lines with a tech-driven, fast-decision approach. It is the closest direct competitor to DBT in Sweden, operating with a similar customer profile (turnover-bound SMEs) and similar non-bank alternative lender positioning.
• Capcito: Capcito is a Swedish fintech providing invoice financing, factoring, and working capital solutions to SMEs. Directly comparable to DBT on the working capital and short-term business financing side, and operates in the same Swedish SME alternative-lending category.
• iwoca: iwoca is a UK-headquartered tech-led SME lender offering flexible credit lines and term loans to small businesses. Highly comparable to DBT on business model (tech-driven credit assessment, fast decisions, direct lending, relationship-led), though UK-focused and serving slightly smaller SMEs.
• Billie: Billie is a German B2B Buy Now Pay Later and invoice financing provider for SMEs. Comparable to DBT in extending short-term business credit to enable B2B transactions, with similar technology-led underwriting and SME-focused positioning across Europe.
• October: October is a European digital lending platform focused on SME financing across France, Spain, Italy, Germany, and the Netherlands. Comparable to DBT in providing tech-enabled direct lending to SMEs in the European mid-market, though primarily serving continental Europe.
• CapitalBox: CapitalBox is a European fintech offering short-term business loans and revolving credit lines to SMEs. Comparable to DBT on alternative SME lending model and product structure (working capital, growth loans), though typically serves smaller ticket sizes and operates across multiple European markets.

Broad incumbents

• Funding Circle: Funding Circle is a publicly listed UK SME lending platform operating across multiple geographies with a broader product suite. Comparable to DBT on core SME term lending, but operates at much greater scale, serves smaller average ticket sizes, and offers marketplace-style funding rather than balance-sheet lending.
• Klarna: Klarna is a major Swedish-founded fintech operating across consumer payments, BNPL, and increasingly embedded financial services for merchants. Comparable to DBT as a fellow Swedish fintech with regulatory license and scaling ambitions, though Klarna primarily serves consumers/merchants rather than direct SME lending.

Others

• Tink: Tink is a Swedish-founded open banking platform (now owned by Visa) providing financial data infrastructure across Europe. Adjacent/ecosystem peer to DBT because Tink's open banking data feeds directly into SME credit decisioning platforms like DBT's, and both originate from the Stockholm fintech ecosystem.
• Sambla: Sambla is a Swedish loan comparison and refinancing broker helping consumers and businesses aggregate and refinance loans. Comparable to DBT as a Swedish fintech in the credit space, though Sambla operates as a broker/aggregator rather than direct lender and focuses more on refinancing flows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/15256869

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DBT