What Alpcot does

Alpcot is a Swedish fintech that operates a proprietary digital platform for personal savings, investments, and pensions, serving retail self-directed investors, a nationwide network of 150+ financial advisers across 14 Swedish cities, and corporate/SME pension clients. Its consumer-facing portal enables account opening via BankID in approximately two minutes, trading across roughly 1,400 discounted funds and global equities, and end-to-end digital pension consolidation powered by Tink open-banking aggregation. The platform is built in-house since 2017 and integrates with BankID (authentication/signing), Tink (account aggregation), Euroclear (fund distribution and rebates), SEB (custody), Morningstar (fund analytics), Millistream (real-time equity pricing), and Trustly (instant deposits). Custody and investor protection are provided via SEB, with state-backed investor protection up to SEK 250,000 and deposit guarantee up to SEK 1,150,000.

Alpcot monetizes through a near-zero-fee consumer proposition (0 SEK annual and deposit fees) layered with a 0.20% per annum fund distribution fee on fund holdings (capped at fund rebates, which are fully rebated to customers), variable equity brokerage commissions (0.10% for Swedish equities, 0.20% for US, 0.25% for other European markets), 0.20% AIF distribution fees, discretionary portfolio management fees, and pension plan administration — the largest single revenue stream in Sweden. For advisers and insurance intermediaries, Alpcot offers Curo Professional, a proprietary SaaS tool covering KYC, suitability assessment, digital signing via BankID/Assently, portfolio management, and client reporting; affiliated advisers and franchisees operate under Alpcot's Finansinspektionen-issued securities and insurance mediation licenses. Strategic partnerships with Tydliga (300+ intermediaries), Aktiespararna, Intervenia, and Futur Pension extend distribution and product reach.

Alpcot Holding AB (publ) is listed on Nasdaq First North Growth Market under ticker ALPCOT B since 2021, with founder-controlled voting through Alpcot Ltd (41.62% capital, 69.30% voting rights). The company has published 2027 financial targets of SEK 110–120 million operating revenue with a minimum 30% EBITDA margin. The January 2026 acquisition of Gadd & Cie S.A. (SEK 4+ billion AUM, Luxembourg/Geneva/Stockholm offices) extended Alpcot's footprint into international wealth management, complementing the UK-regulated Alpcot Capital Management Ltd (London) and Luxembourg UCITS fund domicile. Scale signals include over SEK 18 billion in pension assets entrusted, SEK 28+ billion in customer capital under custody or power-of-attorney, and SEK 10+ billion in daily managed assets.

Name

Alpcot

Legal name

Alpcot AB

Website

https://alpcot.se

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Alpcot is a Swedish fintech operating a proprietary digital platform for personal savings, investments, and pensions. It serves retail self-directed investors, a nationwide network of 150+ financial advisers via its Curo Professional SaaS tool, and corporate/SME pension clients across Sweden.

Ownership category

akta.pro rank

Product category

Digital Wealth Management and Investment Platform

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282), Finance Services (6199), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Embedded Insurance Distribution & Premium Financing (FSAGALAF)

Keywords

• Digital wealth management
• Discounted fund marketplace
• Investment advisory platform
• Pension consolidation services
• Online brokerage Sweden

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Fund distribution fees (Fondförmedlingsavgift): Alpcot earns a fund distribution fee of 0.20% per year on the value of fund holdings, charged per fund. This fee is capped at the fund rebate (Fondrabatt) received from fund companies via Euroclear. All fund rebates are fully rebated to customers; Alpcot retains only the 0.20% distribution fee. This creates a customer-aligned incentive structure where Alpcot's revenue grows as customer assets grow. Admin fees of 177 SEK/quarter apply for depås containing structured products, unlisted securities, or corporate bonds.
2. Equity and ETF brokerage commissions: Variable brokerage commissions on listed equities and ETFs across Swedish, Nordic, US, and other European exchanges. Swedish equities: 0.10% with minimum 149 SEK. US equities: 0.20% with minimum 19 USD. Other European equities: 0.25% with minimum ~20 EUR. No transaction fees for fund orders placed via customer portal or phone. Currency conversion adds 0.25% spread.
3. Discretionary portfolio management fees: Fees for discretionary fund and equity portfolio management offered to customers and advisers. Advisory fee and portfolio management fee charged per separate agreement. Discretionary fund portfolios offered in risk classes 2, 3, and 4 (SRI scale). Equity portfolios with different mandates (global equities, Swedish small caps, Nordic dividend, European defence).
4. Alternative Investment Fund (AIF) distribution fees: AIF distribution fee of 0.20% per year on AIF holdings. Performance-based compensation received from AIF managers is also retained by Alpcot (not rebated to customers for annual or less frequent payouts).
5. Pension plan administration: Revenue from administration of occupational pension plans, representing the largest share of Alpcot's Swedish revenues. Includes insurance mediation services for life insurance, occupational pension insurance, capital insurance, private pension insurance, fund insurance, and direct pension products.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Alpcot provides a digital investment and savings platform for Swedish retail customers, offering tax-deferred ISK accounts, capital gains depå, capital insurance, private and occupational pension insurance, discounted fund trading on 1,400+ funds, equity and ETF brokerage across global markets, discretionary portfolio management, and automated pension consolidation. A parallel Curo Professional SaaS tool is licensed to a 150+ adviser network that delivers investment advisory and insurance mediation under Alpcot's Finansinspektionen licenses.

Product overview

Alpcot operates as a unified digital platform for savings and investments, combining a proprietary platform for private banking with dedicated tools for professional advisors. The core platform (Alpcot) integrates fund trading (Fondtorget with 1,400+ discounted funds), stock trading (Aktier), and various account types (ISK, depot, capital insurance, pension insurance). The Curo Professional module serves investment advisors with complete digital workflow management. Alpcot Capital Management subsidiary manages proprietary funds including Alpcot Equities (global equity fund), Alpcot Fixed Income (global fixed income), and Amberfield Pi8 (quantitative fund). The January 2026 acquisition of Gadd & Cie added the Gadd SMP Fund and international wealth management capabilities. Aktiespararna Aktiv provides fee-free fund management for members of the Swedish Shareholders Association.

Differentiator

Problem solved

Functional benefit

Brands

• Curo Professional: Alpcot's proprietary platform for investment advisors, providing comprehensive system support for customer engagement, insurance underwriting, investment advice, and customer communication
• Alpcot Fonder
• Fondtorget
• Aktiespararna Aktiv
• Intervenia Direktpension

Products and services

• Curo Professional Proprietary digital platform for investment advisers and insurance intermediaries providing end-to-end workflow management: KYC and information gathering, risk and suitability assessment, policy/depå issuance, BankID digital signing, portfolio management, transaction monitoring, adviser AUM development tracking, and client reporting. Used by Alpcot's 150+ adviser network and external advisers including those under the Tydliga alliance.
• Fondtorget (Fund Marketplace) One of Sweden's largest discounted fund marketplaces, offering access to over 1,400 funds including index funds, actively managed funds and alternative investment funds from multiple fund companies via Euroclear. All fund rebates from fund companies are fully rebated to customers quarterly, with Alpcot retaining only a 0.20% per year fund distribution fee.
• Aktier (Equity & ETF Trading) Stock trading platform giving customers access to Swedish and international equities and ETFs across Swedish (Nasdaq Nordic), Nordic MTF, US, Finnish, Danish, and other European exchanges. Features algorithmic order routing for institutional-quality execution and brokerage commissions of 0.10% (Swedish/Nordic) to 0.25% (other Europe), with a 0.25% currency conversion spread.
• Portföljbyggaren (Portfolio Builder) Decision-support tool that lets customers construct and evaluate investment portfolios. Integrated with risk classification on the SRI 1-7 scale, portfolio volatility calculation using 5-year weekly return history, and covariance-based risk aggregation to model combined fund/equity portfolios.
• Investeringssparkonto (ISK) and Reavinstbeskattad depå Tax-deferred investment savings account (ISK) and traditional capital-gains taxable securities depot (reavinstbeskattad depå) for Swedish retail and legal-entity customers. ISK offers flat-rate tax based on account value; the capital-gains depot allows loss deductions on realized gains. Both can be opened via BankID in about two minutes and used for fund/equity trading.
• Kapitalförsäkring (Capital Insurance) and Pensionsförsäkring (Pension Insurance) Tax-deferred insurance wrappers — capital insurance and private/occupational pension insurance — offered in partnership with Futur Pension for both individuals and companies. Provide beneficiary and estate-planning features, options for active management or transfer of free-policy benefits, and 0 SEK depot fee on top of underlying insurance fees.
• Intervenia Direktpension Direct pension solution for sole proprietors and company owners offered in partnership with Intervenia. The company's own company saves for the owner's pension in funds without requiring a pension or capital insurance policy, avoiding traditional insurance companies and offering lower taxes, transparent costs, and higher expected pension outcomes.
• Diskretionär förvaltning (Discretionary Portfolio Management) Discretionary fund and equity portfolio management service covering global fund portfolios in SRI risk classes 2-4 plus equity portfolios with different mandates (global equities, Swedish small caps, Nordic dividend, European defence). Fees are charged per separate agreement and require a suitability assessment with a personal adviser.
• Pensionssamling (Pension Consolidation) Service to consolidate pension savings from multiple providers (e.g., Alecta, AMF, Folksam, Handelsbanken, Skandia), analyse fees, generate optimisation recommendations and execute automated fund switches. Uses Tink for account aggregation and BankID for authorisation, with the full digital flytt completed in under five minutes via the customer portal.
• Fullmaktskollen (Power of Attorney Checker) Digital tool that allows customers to sign an information power of attorney and receive continuous updates about their insurance holdings, enabling ongoing monitoring and facilitating pension consolidation.
• Alpcot Equities Global equity fund with a momentum strategy, actively managed by Alpcot Capital Management Ltd (UK-regulated). Offers global exposure primarily to equity instruments with high diversification across regions and sectors. Available to Swedish investors via the Alpcot platform.
• Alpcot Fixed Income Global fixed income fund with specific focus on the Swedish market, actively managed by Alpcot Capital Management Ltd. Offers global exposure primarily to fixed income assets with high diversification. Available to Swedish investors via the Alpcot platform.
• Amberfield Pi8 Actively managed quantitative fund aiming to deliver attractive risk-adjusted returns by investing in global financial markets and using derivatives and other financial instruments to gain exposure to stocks, bonds, currencies, volatility and selected commodities. Managed by Alpcot Capital Management Ltd.
• Gadd SMP Fund Actively managed mixed fund started in 2011 and managed exclusively by one fund manager. Fund volume of approximately SEK 2 billion (as of January 2026), risk classification 4 of 7 on the SRI scale, focused on long-term value creation. Delivered approximately 13% return in 2025 with multiple 5-star Morningstar ratings.
• Aktiespararna Aktiv Fee-free (0% management fee) actively managed fund exclusively for members of Aktiespararna (Swedish Investors Association). Follows Aktiespararna's capital-management approach across Bas (main), Dividend and Small Cap portfolios. Basportföljen returned 375% from 2011 to 2025, outperforming the SIXRX index at 325%.

Quantifiable outcome

• Pension savings of SEK 166,178 more over 25 years with 40% fund discount on a 30,000 kr initial + 1,500 kr/month savings plan at 8% annual return
• +5 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core.

• Gadd & Cie S.A.coreStrategic or Co-development Partner · 1 January 2026Acquisition/merger completed January 2026. Gadd & Cie is a Geneva-founded (1989) wealth manager with over 35 years of experience, managing SEK 4+ billion across Luxembourg, Geneva, and Stockholm. Gadd continues to operate independently with its existing structure, staff, and established investment philosophy. Alpcot gains access to Gadd's international wealth management expertise and multi-decade track record, while Gadd gains access to Alpcot's market-leading digital platform and Swedish distribution. Gadd SMP Fund (2 billion SEK, ~13% return in 2025) is now available on Alpcot's platform.
• TydligacoreChannel Partner/ Reseller/ Distributor · 1 October 2020Strategic alliance formed October 2020 with Tydliga, one of Sweden's largest adviser organizations administering 300+ insurance intermediaries and investment advisers. Tydliga's advisers use Alpcot's Curo Professional platform. The partnership drove 175% growth in depå count and 89% growth in custody capital since launch. Alpcot provides the digital platform, product shelf, and regulatory infrastructure; Tydliga provides the adviser distribution network.
• InterveniacoreStrategic or Co-development PartnerPartnership with Intervenia (tax and pension advisory firm operating since 1988) to offer Intervenia Direktpension — a direct pension solution for sole proprietors and company owners that avoids traditional insurance companies. The company's own company saves for the owner's pension in funds without requiring a pension or capital insurance policy. Alpcot provides the platform and custody while Intervenia handles tax and pension advisory. The product offers lower taxes than other pension solutions, no fees to insurance companies/banks, transparent costs, and higher expected pension outcomes.
• Euroclear SA/NV (formerly MFEX)coreTechnology or IntegrationFund distribution partner via Euroclear's fund platform (previously MFEX Mutual Funds Exchange AB, acquired by Euroclear). Alpcot receives fund rebates from fund companies through Euroclear and passes them through to customers (minus a 0.20% distribution fee). Euroclear provides pricing data for over 1,400 funds on Alpcot's platform.
• SEB (Skandinaviska Enskilda Banken)coreTechnology or IntegrationSEB serves as Alpcot's custodian bank for client assets. Securities (stocks and other securities) are held in custody at SEB. Liquid funds are held in segregated client money accounts at SEB, separate from Alpcot's own assets. SEB custody ensures investor protection up to SEK 250,000 and deposit guarantee up to SEK 1,150,000.
• TinkcoreTechnology or IntegrationTink provides open banking and account aggregation services enabling Alpcot customers to read their investment savings accounts, bank accounts, mortgage details, and credit card data within Alpcot's platform. Used as part of the digital pension consolidation process (Fullmaktskollen) and the financial overview feature. Tink integration enables Alpcot's comprehensive financial overview tool.
• Futur Pension FörsäkringsaktiebolagcoreChannel Partner/ Reseller/ DistributorAlpcot offers capital insurance and pension insurance products in partnership with Futur Pension. Futur provides the insurance wrapper; Alpcot provides the distribution platform and advisory. Insurance fees apply on top of Alpcot's 0 SEK depot fee. Alpcot and Futur jointly developed a depot insurance solution (Hybrid) combining upfront compensation with long-term recurring fees. Customers can withdraw from Futur capital insurance anytime.
• Aktiespararna (Swedish Investors Association)coreChannel Partner/ Reseller/ DistributorExclusive partnership with Aktiespararna (Swedish Investors Association) to offer Aktiespararna Aktiv fund — a 0% management fee fund exclusively for Aktiespararna members. The fund follows Aktiespararnas successful investment portfolios (Bas, Utdelnings, Småbolagsportföljer) which have outperformed the SIXRX index since 2011. Alpcot handles custody and administration. Aktiespararna members receive 100% discount on the 750 SEK/quarter depot fee for this fund. Non-members pay the full fee.

Scale indicators11 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Lysa: Swedish robo-advisor and low-cost digital wealth manager offering automated discretionary portfolios and ISK accounts. Competes directly with Alpcot on low-fee, digitally-managed Swedish investment portfolios and pension products.
• Söderberg & Partners: Large Swedish financial advisory and wealth management firm with a national adviser network offering investment, pension, and insurance advice. Competes with Alpcot's adviser channel and Curo Professional in serving Swedish intermediaries and end clients.
• Avanza Bank Holding: Sweden's largest online broker with a self-service platform offering fund marketplace, equity trading, pensions, and investment advisory. Directly competes with Alpcot across retail investing, fund rebates, and pension consolidation in the Swedish market.
• Savr: Swedish low-cost fund platform offering discounted index funds and curated portfolios with transparent fees. Direct competitor to Alpcot's Fondtorget discounted fund marketplace in the Swedish self-directed retail segment.
• Nordnet: Major Nordic digital investment and savings platform offering brokerage, funds, pensions, and loans across Sweden, Norway, Denmark, and Finland. Direct competitor in fund marketplaces, ISK/depå accounts, and pension aggregation for Swedish retail customers.

Broad incumbents

• Klarna: Swedish-founded fintech with broad consumer financial services including payments, banking, and now investment/savings products. Comparable as a Swedish fintech peer in scale, brand recognition, and public-market fintech narrative, though serving different primary use cases.
• Skandiabanken (part of Skandia): Major Swedish bank and pension/insurance provider offering ISK accounts, fund trading, and occupational pensions. Broad incumbent competitor to Alpcot in Swedish retail savings, pensions, and insurance mediation.

Others

• Morningstar: Global investment research and fund data provider integrated into Alpcot's fund marketplace. Adjacent ecosystem peer—provides the analytics layer that Alpcot's fund distribution business depends on, with overlapping end customers in investment decision-making.
• Tink (Visa): European open banking aggregation platform acquired by Visa. Tech partner to Alpcot for pension consolidation and financial overview features; comparable as an adjacent Swedish fintech infrastructure provider in the savings/personal finance ecosystem.

Emerging players

• Futur Pension: Swedish digital pension and insurance provider offering capital and pension insurance products through adviser and direct channels. Partner and partial competitor to Alpcot in the Swedish pension and capital insurance segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/AlpcotAB

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Alpcot