What Change Money | Changegroup does

Svea Bank is a Swedish licensed bank headquartered at Evenemangsgatan 31, SE-169 81 Solna, Sweden (Swedish organization number 556158-7634), providing consumer lending and comprehensive business financial services across 10 European countries — Sweden, Germany, Denmark, Finland, Estonia, Netherlands, Belgium, Norway, Austria, and Switzerland — with localized digital websites for each market. The bank serves two primary customer segments: Swedish consumers seeking personal loans (up to 400,000 SEK), mortgages (up to 8 million SEK), debt consolidation, and savings accounts; and businesses ranging from SMBs to enterprises requiring corporate banking, factoring, leasing, business credits, payment processing, e-commerce solutions, invoicing, and collections services (inkasso). Svea markets itself as inclusive, evaluating customers based on current and future financial situation rather than historical payment records, explicitly accepting applicants with payment remarks.

The bank operates an online banking platform with a self-service customer portal ("Mina sidor" / My Pages) where borrowers can view loan details, payment history, interest rates, and upcoming payments, and manage personal information. The digital loan application is a 5-step process (apply, decision via email, sign documents, supplement if needed, payout). The technology stack includes API-based payment processing integrations with merchants and platforms, Banking-as-a-Service (BaaS) capabilities, and connections to Swedish payment systems (Swish), mobile wallets (Apple Pay, Google Pay), and business software (Fortnox). The bank offers a flagship consumer product, "Svealånet," which carries a "räntegaranti" (interest rate guarantee) pledging the market-lowest effective rate.

Svea Bank generates revenue through multiple streams: interest income on lending products (personal loans, mortgages, business credits, factoring, leasing) is the primary recurring revenue base; transaction fees from payment processing services (e-commerce, Instore Pay, Scan & Pay); subscription-based loan protection insurance ("Låneskydd") underwritten by AXA Sweden; and professional credit assessment services to businesses. The bank distributes through self-service digital channels for consumers and a direct sales / relationship-management motion for enterprise business customers.

Name

Change Money | Changegroup

Legal name

Svea Bank

Website

https://exchange.svea.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Change Money | Changegroup operates as Svea Bank, a Swedish licensed bank offering personal loans, mortgages, business financing (factoring, leasing, enterprise credits), payment processing, and corporate banking to consumers and businesses across 10 European countries.

Ownership category

akta.pro rank

Headquarters

HQ city

Solna

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Svea Bank generates primary revenue through interest income on its loan products including personal loans (up to 400,000 SEK), mortgages (up to 8 million SEK), and business financing products such as factoring, leasing, and enterprise credits.
2. Payment Solutions Services: Revenue from payment processing services for e-commerce and retail businesses, including card payments, instore pay, and scan & pay solutions.
3. Credit Assessment Services: Credit reporting and assessment services offered to businesses for evaluating customer creditworthiness.
4. Insurance Products: Loan protection insurance (Låneskydd) providing coverage for unemployment, sickness, and death, administered through AXA Sweden.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Change Money | Changegroup operates as the foreign exchange and currency services arm of the Svea financial group, providing cross-border currency exchange accessible via exchange.svea.com. The broader Svea platform on which it sits delivers consumer loans, mortgages, business financing (factoring, leasing, invoice purchasing), payment processing solutions for e-commerce and retail, and full corporate banking services including accounts, cards, and international payments across 10 European markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Privatlån / Personal Loan (Svealånet) Personal loan product for Swedish consumers up to 400,000 SEK, with an interest rate guarantee (Räntegaranti) ensuring the market-lowest effective rate. Available to customers both with and without payment remarks, evaluated on current and future financial situation.
• Bolån / Mortgage Residential mortgage product for Swedish consumers up to 8 million SEK for home purchase or renovation, including supplementary loan (tilläggslån) and conversion loan (lån till ombildning). Interest rates start from 6.70% with no full-customer requirement.
• Skuldfinansiering / Debt Consolidation Debt consolidation product for over-indebted Swedish consumers seeking a financial restart, with terms customized to individual situations.
• Låneskydd / Loan Protection Insurance

Quantifiable outcome

• Personal loans available up to 400,000 SEK
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• AXA SwedencoreOthersAXA Sweden administers Svea Bank's loan protection insurance (Låneskydd), providing coverage for unemployment, sickness, and death. The partnership enables Svea to offer insurance products as part of their lending portfolio while AXA provides the underwriting and claims administration.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Trustly: Swedish account-to-account payments network acquired by Nordic Capital. Competes with Svea Payments on merchant payment processing and embedded payment infrastructure across Europe.
• Klarna: Swedish BNPL and consumer-credit fintech expanding into banking, payments, and merchant services. Competes with Svea's Svea Payments and consumer credit franchises and increasingly overlaps in inclusive underwriting.
• Northmill Bank: Swedish digital challenger bank offering consumer loans, savings, and credit cards via a fully digital UX. Closely comparable to Svea's self-service 'Mina sidor' and online application journey.

Direct peers

• Marginalen Bank: Swedish niche bank offering personal loans, cards, and savings to consumers and SMEs, including segments underserved by major banks. Directly comparable in targeting subprime/underbanked Swedish borrowers.
• Nordax Bank: Sweden-based licensed bank focused on personal loans, mortgages, and consumer credit, including to non-prime borrowers. Highly comparable in product mix and inclusion-oriented underwriting to Svea.
• TF Bank: Nordic challenger bank providing consumer loans, credit cards, and deposit products across Sweden and the wider EEA. Comparable as a digital-first, cross-border Nordic consumer lender.
• Resurs Bank: Nordic consumer and retail finance specialist offering personal loans, credit cards, retail financing, and factoring. Direct competitor to Svea's consumer lending and Säljfinansiering/vehicle finance businesses.

Broad incumbents

• SEB: Major Swedish universal bank providing mortgages, consumer credit, corporate banking, and payments. Overlaps directly with Svea's private and business banking franchises in Sweden and the Baltic/Nordic region.
• Swedbank: Leading Nordic retail bank with strong consumer lending, mortgage, and payments presence in Sweden, Estonia, Latvia, and Lithuania. Competes head-to-head on mortgages and household credit.
• Nordea: Largest Nordic universal bank with consumer lending, mortgages, payments, and SME banking across all the geographies where Svea operates. Represents the incumbent competitive baseline across nearly every Svea product.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/change-money-changegroup

Revenue estimate

Valuation estimate

Number of profiles

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 Change Money | Changegroup