MedMera Bank

What MedMera Bank does

MedMera Bank is a Swedish consumer challenger bank operating under a full Swedish banking license and serving approximately 100,000 retail customers with personal loans, mortgages (originated in partnership with Landshypotek), energy-efficiency loans (in partnership with Bovra under the "Energilån" brand), savings accounts, credit cards, and the Låneskydd payment protection insurance product. The bank's core proposition is consolidating and refinancing existing household debt at competitive rates, with pricing structured around rate guarantees and a "best rate" positioning that targets Swedish borrowers with multiple outstanding consumer credits.

The product stack is built on an AI-driven credit decisioning engine that underwrites personal loans on proprietary portfolio data, supported by the customer-facing "Mera" AI assistant. Core banking infrastructure has been migrated to Google Cloud, and software development is reported to be over 50% AI-assisted, indicating that ML capability is embedded across both underwriting and engineering workflows rather than confined to a single feature. The company ranked #1 in the Swedish Quality Index (SKI) private bank category, signaling unusually strong brand trust for a challenger in a risk-sensitive category.

MedMera generates revenue primarily through net interest income on its lending book, supplemented by fees on the Låneskydd insurance product and card interchange. Distribution is anchored by a long-running partnership with Coop, Sweden's largest consumer cooperative, which gives MedMera embedded reach into a member base that is difficult for non-licensed competitors to access; this channel is supplemented by direct digital onboarding and television advertising. The lending portfolio grew approximately 50% over the trailing 18 months through mid-2025 and the customer base expanded 27% in 2024, and the company has announced the acquisition of Morrow Bank as a step to add balance sheet capacity, deposit funding, and customer scale.

Name

MedMera Bank

Legal name

MedMera Bank AB

Website

https://medmerabank.se

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

MedMera Bank is a Swedish consumer bank offering personal loans, mortgages, savings accounts, and insurance to approximately 100,000 retail customers. It uses AI-driven credit decisioning and a Coop distribution partnership to serve Swedish households seeking debt consolidation.

Ownership category

akta.pro rank

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Net interest income from lending: MedMera Bank's primary revenue stream is net interest income from its private lending portfolio. The bank offers unsecured personal loans (privatlån) with individual interest rates ranging from 5.20% to 16.95% (effective 5.33%–25.46%). Net interest income was SEK 468 million in 2024 and SEK 270 million in H1 2025.
2. Interest income from deposits/savings: The bank accepts customer deposits through savings accounts (sparkonto) and fixed-rate accounts (fasträntekonto), paying interest to depositors and earning the spread. Total deposits were SEK 9,957 million in 2024 and SEK 10,575 million in H1 2025.
3. Partnership revenues (Energy loans / Energilån): Through partnerships like Bovra for Energilån, the bank originates loans for energy-efficient investments (e.g., heat pumps, solar panels) with a 0.5% rate discount, generating loan origination volume.
4. Loan protection insurance (Låneskydd): MedMera Bank earns premium income from the Låneskydd insurance product, underwritten by AXA, which covers up to 15,000 SEK/month of loan payments for up to 12 months in case of unemployment or sickness, and pays out 50,000 SEK for serious illness or covers full remaining debt up to 600,000 SEK upon death. Premium is 8.39% (rising to 9.25%) of the monthly loan cost.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

MedMera Bank is a Swedish digital bank that provides unsecured personal loans (Privatlån) of SEK 15,000–600,000 and savings accounts (Sparkonto and Fasträntekonto) to individual consumers, served entirely through its online platform and internet bank. Its primary revenue comes from net interest income on lending, supplemented by deposit spreads, optional loan protection insurance (Låneskydd) underwritten by AXA, energy loan partnerships, and mortgage brokering via Landshypotek Bank.

Product overview

MedMera Bank is a digital Swedish bank offering a unified portfolio of consumer lending and savings products primarily for Swedish retail customers. The core lending product is Privatlån, an unsecured personal loan (SEK 15,000–600,000) available entirely digitally, which serves as the platform for several sub-products and features including Låneskydd (optional loan protection insurance underwritten by AXA), Räntegaranti (rate guarantee), loan restructuring and monthly payment adjustments. The savings portfolio comprises Sparkonto (variable-rate, 1.70%) and Fasträntekonto (fixed-rate savings with terms from 3 months to 2 years), both covered by Sweden's statutory deposit guarantee (up to SEK 1,150,000). Supporting digital tools include a Lånekalkylator (loan calculator with no credit impact), an AI-powered digital guide called 'Mera,' and a mortgage brokering service via Landshypotek Bank. The bank also offers Energilån (energy loans with 0.5% rate discount for green investments). MedMera Bank AB, org. no. 556091-5018, is headquartered in Solna, Sweden.

Differentiator

Problem solved

Functional benefit

Products and services

• Privatlån (Unsecured Personal Loan) Unsecured personal loan (blancolån) for Swedish consumers, offering loan amounts of SEK 15,000–600,000 with individually set interest rates (5.20%–16.95% nominal), flexible repayment, loan restructuring, monthly payment adjustment, and a rate guarantee. Applied for entirely digitally with BankID authentication.
• Sparkonto (Variable-Rate Savings Account) Flexible variable-rate savings account with a 1.70% interest rate (as of 2025-07-08), free withdrawals, no fees, and optional monthly auto-savings via direct debit. Covered by Sweden's statutory deposit guarantee of SEK 1,150,000 per depositor. Can be opened individually or jointly.
• Fasträntekonto (Fixed-Rate Savings Account) Fixed-rate savings account with guaranteed interest rates for a chosen term. Current rates: 3 months at 2.45%, 6 months at 2.50%, 1 year at 2.20%, 2 years at 2.20%. Early withdrawal incurs a 2.00% fee on the withdrawn amount. Covered by Sweden's statutory deposit guarantee.
• Låneskydd (Loan Protection Insurance) Optional insurance add-on for Privatlån borrowers, underwritten by AXA. Covers up to SEK 15,000/month for 12 months in case of involuntary unemployment, sick leave, or hospitalization; provides a SEK 50,000 lump sum for serious illness; and pays off remaining loan balance (up to SEK 600,000) upon death. Premium is 8.39% of monthly loan cost.
• Energilån (Energy Loan) Personal loan offering for energy-efficient home investments such as heat pumps, solar panels, or energy renovations, distributed through Bovra's digital app with a 0.5% interest rate discount. Available to Swedish homeowners.
• Bolån via Landshypotek Bank (Mortgage Brokering) MedMera Bank acts as a mortgage broker in partnership with Landshypotek Bank, offering residential mortgage products to its customers. The product is mediated rather than directly underwritten.

Quantifiable outcome

• Customer base grew 27% in 2024, reaching approximately 100,000 customers
• +4 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability4 records

Feature4 records

Scale indicators18 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Klarna: Klarna is a leading Swedish fintech that holds a full Swedish banking license and offers BNPL, consumer banking, and savings products. As a much larger incumbent with overlapping retail consumer credit and deposit products, it competes with MedMera for Swedish consumer wallet share.
• Avanza Bank: Avanza is Sweden's largest digital savings and investment platform, with millions of customers. It competes for Swedish consumer savings deposits (sparkonto) and increasingly offers adjacent credit products, making it a broad incumbent comparable to MedMera's savings side.
• Nordnet: Nordnet is a major Nordic digital bank focused on savings, investments, and pensions, with growing personal loan offerings. It overlaps with MedMera's savings accounts (sparkonto, fasträntekonto) and increasingly in personal loans in the Swedish retail market.

Emerging players

• Lunar: Lunar is a Nordic digital bank offering consumer accounts, savings, and personal loans across Denmark, Sweden, and Norway. It is an emerging competitor in the same digital-first Nordic retail banking space with a comparable product roadmap.

Direct peers

• Morrow Bank: Morrow Bank is a Norwegian consumer finance bank that has agreed to acquire MedMera Bank from KF for ~SEK 2B. It is both a current Nordic peer in consumer finance and the future parent of MedMera, with overlapping business models in unsecured personal lending and digital banking.
• Sambla: Sambla is a Swedish loan broker and refinancing specialist that aggregates consumer loan applications across multiple lenders. It competes with MedMera's Samla lån (debt consolidation) product and represents a partial overlap in customer acquisition channels.
• Resurs Bank: Resurs Bank is a leading Nordic consumer finance bank offering personal loans, credit cards, and retail financing in Sweden and other Nordic markets. It directly competes with MedMera in the Swedish unsecured personal loan and savings segments.
• Nordax Bank (NOBA Bank Group): Nordax Bank (now part of NOBA Bank Group) is a Nordic specialist bank offering personal loans, mortgages, and savings products primarily in Sweden, Norway, Finland, and Denmark. It is a closely comparable direct peer in Swedish consumer lending and deposit-taking.
• TF Bank: TF Bank is a Nordic digital consumer bank offering unsecured personal loans, credit cards, and savings accounts across Sweden, Norway, Finland, and the Baltics. It is a direct competitor in Swedish privatlån with comparable product positioning and digital-first model.

Others

• Compricer: Compricer is a Swedish financial comparison and loan broker that helps consumers compare banking, insurance, and loan products. It functions as a distribution channel that both supports and competes with MedMera in Swedish consumer loan origination.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/MedMera-Bank-AB-100063913844724
• LinkedInlinkedin.com/company/about

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 MedMera Bank