FEBRUARY 03 2021
Two of the leading independent online comparison sites for personal finance in the Nordic region, Sambla and Advisa, have today announced their intention to merge. The purpose is to further develop as a combined company to help more clients improve their personal finances by comparing terms on loans and insurance. Both companies have a very high level of customer satisfaction due to a modern user interface, strong and shared corporate values, and by bringing clear benefits to their clients. There is strong growth potential as the two companies support and complement each other very well. Nordic Capital becomes the majority owner and will actively support the new company in the next expansion phase. The goal is to be the best partner for customers, banks and lenders alike, and over time to become the Nordic region's leading digital comparison site for personal finance.
The combination of Sambla and Advisa creates one of the largest players in the Nordic region within loan intermediation, as both companies have strong platforms to continue to build on. Both companies help clients to compare loan terms and consolidate their loans, and thereby improve the terms and reduce costs. A combination creates new great opportunities for increased product development, an even higher service level and access to additional competitive offers that will benefit more clients. The combined company will have an expected turnover of approximately SEK 575 million and it will be the second largest player in Sweden.
“We are very pleased to announce the combination of the two companies. In recent years, each of our companies have in different ways achieved market-leading customer satisfaction and growth. Together, we have a fantastic opportunity to drive the industry development; not least by product development based on the customer needs and technological innovation. We look forward to having even better opportunities to improve the economy for hundreds of thousands of people throughout the Nordic region,” says Jonathan Bollman, CEO, Advisa.
“I am very pleased that we have agreed to this strategic combination. Together, we gain the scale and position required to take advantage of the growth and expansion opportunities that exist in our market. We are both entrepreneurial companies that share the ambition to become industry leaders, and we have both driven the development of different areas in the industry. Now we have the opportunity to do it together, which will benefit our customers,” says Per Österström, Founder, Sambla.
As the majority owner, Nordic Capital will actively support the new company, drawing on its experience from previous acquisitions in financial services.
“We are deeply impressed by what these two companies have achieved separately and believe that the combined company will increase competition in the sector and be a strong force when it comes to improving consumers’ finances in the future. In addition to creating a strong platform for growth, the combined company will also drive positive development throughout the industry. Nordic Capital looks forward to supporting the business in its next phase," says Christopher Ekdahl, Principal, Nordic Capital Advisors.
Advisa was founded in 2011 and helps consumers get better terms by comparing loans with up to 36 different banks and lenders in Sweden and Finland. The services are offered completely digitally. Advisa has 48 employees in Stockholm, Sweden and to date has helped over 400,000 customers compare their loans.
Since its inception in 2014, Sambla has helped consumers to save money on their loans by comparing banks' and lenders' interest rates in Sweden, Norway, Finland and Denmark. The services are offered through a combination of digital processes and advice over the phone. Sambla has 125 employees in Stockholm and Lund in Sweden. The company has partnerships with over 40 bank and lenders in Sweden, and to date Sambla has helped over 390,000 customers to compare their loans.
Nordic Capital has a long and extensive experience of developing companies in financial services, both through organic growth and add-on acquisitions. Today, Nordic Capital has seven portfolio companies in the sector, including Nordax, Bank Norwegian and Nordnet. Previous holdings include Resurs Bank. As an owner, Nordic Capital supports the portfolio companies' development through extensive sector knowledge, capital for investments, operational experience with a focus on continued product development and support to further professionalisation of the organisation.
As part of the transaction, the shareholders Four Elements AB and Krasse & Co AB will sell their shareholding in Sambla. "We are proud to have contributed in making Sambla successful and to enable this new combination," says Björn Krasse, Krasse & Co AB.
The terms of the transaction were not disclosed. The transaction is subject to customary regulatory approvals.
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: + 46 8 440 50 50
About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 16 billion in over 110 investments. The most recent fund is Nordic Capital Fund X with EUR 6.1 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, Denmark, Finland, Norway, Germany, the UK and the US. For further information about Nordic Capital, please visit www.nordiccapital.com
Footnote: “Nordic Capital” refers to any, or all, Nordic Capital branded or associated investment vehicles and their associated management entities. Nordic Capital is advised by several non-discretionary sub-advisory entities, any or all of which is referred to as “Nordic Capital Advisors”.