GreenMerc
GreenMerc AB (publ) is a Swedish fintech group operating three wholly-owned subsidiaries — Trijo (Swedish crypto exchange), Northcrypto (MiCA-authorized Finnish crypto platform), and GreenMerc Finance (ECSPR-regulated equity crowdfunding) — serving over 77,000 Nordic retail customers and unlisted growth companies.
- Company typePublic
- Founded2021
- HeadquartersStockholm, Sweden
- Headcount1–10
- GTM typeB2B and B2C
- OfferingSoftware
What GreenMerc does
GreenMerc AB (publ) is a Swedish fintech group listed on NGM Nordic SME (ticker GMERC B, ISIN SE0022087680, 18,015,145 shares outstanding) that builds and operates three wholly-owned subsidiaries targeting the Nordic retail and unlisted-investment market. Trijo, acquired in September 2022, is a Swedish cryptocurrency exchange supporting 260+ digital assets plus ETH/SOL staking; Northcrypto, acquired in 2024 and MiCA-authorized by the Finnish Financial Supervisory Authority in November 2025, provides EU-wide crypto-asset custody, administration, and transfer services; GreenMerc Finance (GMF), authorized under ECSPR by Finansinspektionen, operates a regulated equity crowdfunding platform for unlisted Swedish growth companies. The group serves over 77,000 customers across Sweden and Finland as of Q1 2026, with B2C onboarding via BankID, Swish and Stripe payment integrations, automated crypto tax reporting via Divly and Cointracking, and a shareholder program linking equity ownership to Trijo fee discounts and staking reward uplifts.
GreenMerc's underlying technology stack is a multi-tenant fintech platform operated on an AI-native development methodology, where AI tools support the full software lifecycle from problem formulation through testing; the GMF platform was substantially rebuilt using this approach, and the process is being rolled out across all group companies. Onboarding, KYC, and contract execution rely on BankID and the Scrive e-signature platform; Trijo uses Stripe as its payment service provider and added Swish deposits in January 2026. The group reports FY2025 net revenue of 25.69 MSEK (up 39% YoY from 18.49 MSEK in 2024), with Q1 2026 revenue of 3.058 MSEK.
GreenMerc generates revenue primarily through transaction-based take rates: trading fees and spreads on crypto buy/sell and swap activity across Trijo and Northcrypto, staking yield administration on ETH and SOL, and issuer-side fees on equity crowdfunding campaigns hosted on GMF (investors pay no fees; a 5,000 SEK minimum applies per investment). Distribution is entirely digital via web and mobile apps, with a shareholder referral funnel, content marketing via the GreenMerc Insights blog and GMF knowledge center, and PR through NGM information-system releases. In February 2026, co-founder Ari Liukko succeeded Arvid Börje Ramberg as CEO, and in December 2025 the company spun off ServiceLine24 AB (publ) to shareholders via a Lex ASEA distribution.
GreenMerc firmographics
Firmographics- Name
- GreenMerc
- Legal name
- GreenMerc AB (publ)
- Website
- https://greenmerc.com
- Company type
- Public
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- GreenMerc AB (publ) is a Swedish fintech group operating three wholly-owned subsidiaries — Trijo (Swedish crypto exchange), Northcrypto (MiCA-authorized Finnish crypto platform), and GreenMerc Finance (ECSPR-regulated equity crowdfunding) — serving over 77,000 Nordic retail customers and unlisted growth companies.
- Ownership category
- akta.pro rank
GreenMerc industry classification
Industry- Product category
- Cryptocurrency Exchange and Equity Crowdfunding Platform
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks (FSADAIAE)
- akta.pro secondary industries
- Crypto-Enabled Cross-Border Transfers & On/Off-Ramps (FSAGAKAO), Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending) (FSAGAMAG)
Keywords
Where GreenMerc is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Offices1 record
Markets served
GreenMerc business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Crypto Trading Fees (Trijo & Northcrypto): Transaction and trading fees from crypto exchange operations. Trijo charges 0.30% for limit orders for eligible shareholders in the shareholder program; standard trading fees apply for other users. Revenue is generated through spreads and commissions on crypto buy/sell and trading transactions across Trijo and Northcrypto platforms.
- Crowdfunding Platform Fees (GreenMerc Finance): Fees from hosting equity crowdfunding campaigns on the GMF platform. Companies pay to list and raise capital through the platform, while investors pay no fees per the fee page. Revenue is generated from issuers seeking to raise capital via the regulated platform.
- Staking Rewards Administration: Trijo offers staking services for Ethereum (ETH) and Solana (SOL), providing yield on digital assets. Shareholder program participants receive 10–15% higher staking rewards than standard levels, indicating a staking yield administration revenue stream.
- MiCA-Regulated Crypto Services: Northcrypto generates revenue from providing crypto-asset custody, administration, and transfer services under MiCA authorization across the EU, expanding the addressable market for regulated digital asset services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Shareholder Program — Reduced Trading Fee |
| Transaction based/ take rate | Pay-as-you-go | GMF Crowdfunding Platform — Issuer Fees |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels8 records
GreenMerc product offering
Product offeringCore offering
GreenMerc AB (publ) operates a multi-vertical fintech ecosystem through three wholly-owned subsidiaries: Trijo (Sweden's leading cryptocurrency exchange supporting 260+ cryptocurrencies, staking, and Swish deposits), Northcrypto (Finnish crypto exchange with EU-wide MiCA authorization), and GreenMerc Finance (regulated equity crowdfunding platform under ECSPR/Finansinspektionen oversight). The company builds and invests in fintech operations across crypto, crowdfunding, and digital finance, serving retail investors and growth companies primarily in Sweden and Finland with EU-wide expansion.
Product overview
GreenMerc is a Swedish fintech company building and investing in innovative fintech businesses in crypto, crowdfunding, and digital finance. The company operates as a platform-plus-subsidiaries architecture with three core business units: GreenMerc Finance (GMF), a regulated equity crowdfunding platform for unlisted investments; Northcrypto, a Finnish cryptocurrency exchange with EU-wide MiCA authorization; and Trijo, Sweden's leading cryptocurrency exchange. These three subsidiaries serve different verticals within digital finance while sharing GreenMerc's technology infrastructure and regulatory platform. Additional offerings include crypto tax declaration services, staking capabilities, Swish and Stripe payment integrations, and affiliate systems.
Differentiator
Problem solved
Functional benefit
Brands
- GreenMerc Finance: Crowdfunding platform for fintech and crypto investments. Auktoriserad av Finansinspektionen.
- Northcrypto
- Trijo
Products and services
- GreenMerc Finance (GMF) A regulated digital investment platform connecting investors with carefully vetted unlisted Swedish growth companies through equity crowdfunding, crowdlending, and payment services. Authorized by Finansinspektionen under ECSPR. Minimum investment 5,000 SEK per campaign. For Swedish investors and growth companies.
- Northcrypto A Finnish cryptocurrency trading platform providing services for buying, selling and storing Bitcoin and other cryptocurrencies. Holds MiCA authorization from the Finnish Financial Supervisory Authority, enabling crypto-asset services across the EU including custody, administration, and transfer services. For retail crypto investors in Finland and the EU.
- Trijo Sweden's leading cryptocurrency exchange for buying, selling and trading digital assets. Supports 260+ cryptocurrencies, offers staking for ETH and SOL, Swish deposits, Stripe payments, and affiliate referrals. For Swedish retail crypto investors.
- GMF 2.0 A completely rebuilt version of the GreenMerc Finance crowdfunding platform launched in May 2026, featuring a new investor experience with intuitive mobile-optimized flow, clearer risk presentation with investment fact sheets, faster onboarding for companies, and real-time updates for ongoing emissions.
- Trijo Staking
Quantifiable outcome
- Over 77,000 customers across Trijo, Northcrypto, and GreenMerc Finance as of Q1 2026
- +3 more outcomes
Companies that use GreenMerc
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
GreenMerc technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
AI capability1 record
Feature5 records
GreenMerc partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Key Experience ScandinaviacoreKey Experience Scandinavia was the first company listed on GreenMerc Finance's equity crowdfunding platform in March 2026. The company is Sweden's leading loyalty platform for bank customers with partnerships at Handelsbanken, Nordea, Swedbank, and Avanza. GreenMerc Finance conducted full due diligence before listing the company.
- Ijort Invest ABminorIjort Invest AB, a Swedish subsidiary of GreenMerc, has been working on a MiCA authorization application with Finansinspektionen during Q1 2026, in close dialogue with the authority, having answered questions promptly.
- Northcrypto (NorthCrypto Oy)coreGreenMerc announced intent to acquire Finnish crypto platform Northcrypto Oy in June 2024. Northcrypto subsequently received MiCA authorization from the Finnish Financial Supervisory Authority in November 2025, enabling EU-wide crypto-asset services including custody, administration, and transfer. Northcrypto is now a wholly-owned GreenMerc subsidiary.
- StripecoreTrijo, GreenMerc's Swedish crypto exchange and wholly-owned subsidiary, selected Stripe as its payment services provider in September 2024 to offer efficient and secure payment services to its users.
- TrijocoreGreenMerc AB acquired Swedish cryptocurrency exchange Trijo in September 2022 as a key strategic move to develop and launch a Swedish-developed crypto exchange. The acquisition supports GreenMerc's strategy to become a major player in the Nordic crypto market, leveraging its own technology and decentralized systems. Trijo is now GreenMerc's wholly-owned subsidiary operating as 'Sweden's leading crypto exchange'.
Scale indicators14 records
Recent moves8 records
Expansion highlights5 records
GreenMerc competitors and assessment
Company assessmentEmerging players
- Crowdcube: European (UK-rooted) equity crowdfunding platform regulated under local equivalents to ECSPR. Comparable to GreenMerc Finance for retail-investor access to vetted private companies.
- Seedrs: European equity crowdfunding platform (now part of Republic) offering regulated private-investment access. Comparable to GreenMerc Finance for issuer pipeline and retail-investor onboarding mechanics.
Direct peers
- Safello: Swedish-headquartered crypto exchange listed on Nasdaq First North, offering buy/sell of major cryptocurrencies to Nordic retail customers. Directly comparable to Trijo in target market, product scope, and regulatory exposure (Finansinspektionen).
- Quickbit: Swedish-listed crypto and blockchain company (publ) that operates a regulated crypto exchange and payment services. Comparable to GreenMerc as a Nordic listed crypto platform pursuing MiCA-driven expansion.
- BTCX: Sweden-registered crypto exchange (BTCX Sweden AB) supervised by Finansinspektionen. Comparable to Trijo as a Nordic retail-focused crypto trading platform with similar payment integrations and compliance posture.
- FundedByMe: Swedish equity and reward-based crowdfunding platform connecting investors with growth companies. The most direct peer to GreenMerc Finance for the regulated crowdfunding vertical.
Regional players
- Bitpanda: Vienna-based, MiCA-ready European retail crypto broker serving multiple EU countries. Comparable to Northcrypto for its EU-wide crypto-asset services ambition, though operating at significantly larger scale.
Broad incumbents
- Kraken: Global crypto exchange offering trading, staking, and custody services with a growing European footprint under MiCA. Comparable as a broad incumbent in the same product categories as Trijo and Northcrypto.
- Coinbase: Largest publicly listed US crypto exchange with global expansion ambitions and MiCA-driven EU entry. Broad incumbent whose product breadth (exchange, custody, staking) closely mirrors GreenMerc's three-vertical platform.
- Nordnet: Nordic digital bank and brokerage platform offering trading across multiple asset classes. Broad incumbent for the same Swedish retail-investor base GreenMerc targets with GMF and the Trijo shareholder program.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
GreenMerc social profiles
Digital presenceGreenMerc compliance and trust
Trust signalCompliance4 records
GreenMerc financial estimates
Financial estimateRevenue estimate
Valuation estimate
GreenMerc leadership team
Management profileNumber of profiles
Profiles9 records
GreenMerc subsidiaries and ownership
Company hierarchySubsidiaries3 records
GreenMerc funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
GreenMerc M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about GreenMerc
What does GreenMerc do?
GreenMerc AB (publ) operates a multi-vertical fintech ecosystem through three wholly-owned subsidiaries: Trijo (Sweden's leading cryptocurrency exchange supporting 260+ cryptocurrencies, staking, and Swish deposits), Northcrypto (Finnish crypto exchange with EU-wide MiCA authorization), and GreenMerc Finance (regulated equity crowdfunding platform under ECSPR/Finansinspektionen oversight). The company builds and invests in fintech operations across crypto, crowdfunding, and digital finance, serving retail investors and growth companies primarily in Sweden and Finland with EU-wide expansion.
Is GreenMerc a public or private company?
GreenMerc is a public company. It is classified as public and is currently operating.
When was GreenMerc founded?
GreenMerc was founded in 2021. It employs 1 to 10 people.
Where is GreenMerc based?
GreenMerc is headquartered in Stockholm, Sweden, in the Europe region.
How does GreenMerc make money?
Four revenue lines are on record. Crypto Trading Fees (Trijo & Northcrypto) is the primary driver. The others are crowdfunding Platform Fees (GreenMerc Finance), staking Rewards Administration and miCA-Regulated Crypto Services.
Who are GreenMerc's main competitors?
Emerging players on record are Crowdcube and Seedrs. Direct peers are Safello, Quickbit, BTCX and FundedByMe. Bitpanda is listed as a regional player. Broad incumbents are Kraken, Coinbase and Nordnet.
Does GreenMerc have an API?
No public API is recorded for GreenMerc.
What industry is GreenMerc in?
GreenMerc's product category is Cryptocurrency Exchange and Equity Crowdfunding Platform. Its primary akta.pro industry code is FSADAIAE, On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks, with a secondary code of FSAGAKAO, Crypto-Enabled Cross-Border Transfers & On/Off-Ramps. Its NAICS code is 525 and its SIC code is 6200.