Democratising savings and investments – and creating value
In 2016, Nordnet had a position as a niche alternative to traditional banks mainly in Sweden. But Nordic Capital and the Öhman Group saw a potential for more; to further digitalise and develop Nordnet’s operations, customer offerings and user experience.
Nordnet was acquired in a recommended public tender offer that was completed in January 2017. The acquisition was a start of an intense growth journey for Nordnet, where Nordic Capital supported the management team with its’ deep expertise, capital and broad network.
Significant platform investments created a more flexible and scalable IT infrastructure and accelerated product innovation. Customer activity and engagement increased significantly, as well as market shares across the Nordic countries.
In addition, Nordnet advanced its sustainability agenda to promote sustainable savings, with 40 percent of client investments in funds which had achieved top ratings in Morningstar’s sustainability ranking as of December 2019. By comparison, the figure was 13 percent in 2016.
Another milestone was achieved in 2020, when Nordnet reached one million customers, doubling its customer base since 2016.
During the four years of Nordic Capital’s ownership, Nordnet became a leading Pan-Nordic savings and investment platform with more than 1.5 million customers. At the end of 2020, the savings capital had quadrupled to SEK 565 billion.
In 2021, it was time for Nordnet to enter the next phase of the growth journey. Nordnet was successfully re-listed where the offering was substantially over-subscribed.
Today, Nordnet is uniquely positioned as the only Pan-Nordic platform of scale and stands stronger than ever. The mission is clear: To continue to democratise savings and investments in Sweden, Norway, Denmark and Finland.