Nordigen raises a bridge round and grows sales team to scale sales
We are excited to announce the closing of an investment round of 150,000 EUR by Change Ventures, the seed stage venture capital firm that backs Baltic founders, led by Andris K. Berzins, co-founder of TechHub Riga and veteran entrepreneur and startup executive. Our excitement comes primarily from having the chance to work with the Change Ventures team, which also includes Rait and Yjro Ojasaar. They are experienced in helping early-stage startups grow to become sustainable enterprises. Most of the investment will be allocated to build a strong sales team to reach out to more banks and help them capture the positive externalities of the European Union’s PSD2 (Payment Services Directive 2).
For Nordigen, PSD2 is a massive opportunity. The new directive will allow private individuals to share their account information with lending institutions seamlessly, which means that lending institutions will have more data to make a fair credit decision. However, lenders are already struggling to figure out how to make the most of this new data to stay ahead in what will become an even more competitive lending market. At Nordigen we have a proven solution, packaged in a simple API. We identify risk-critical information and individual behaviour in bank account transaction data — automatically and with high precision.
Today we work with more than 30 credit institutions across 12 countries with partners including Citadele Bank (American-owned bank in the Baltics), IPF Digital (part of the UK-based International Personal Finance plc.) and Prestamos Prima (co-owned by Finstar Financial Group). Our head office is located in Riga, Latvia. We are looking for ambitious and driven sales people, as well as top Python back-end developers. If you are interested to join our ambitious and mission-driven team, let us know: email@example.com.
Co-founder | Member of the Board