Collector divests Collector Ventures

Collector AB (“Collector”) has entered into an agreement to divest its entire holding in Collector Ventures 1 Kommanditbolag (“Collector Ventures”), which manages Collector’s investment business focusing on fintech, to NFT Ventures for SEK 330 million on a cash and debt free basis. The transaction is expected to close during the first quarter 2021.

Collector Ventures was founded jointly with NFT Ventures in 2016 with the purpose of making investments in fintech companies. Since its establishment Collector Ventures has invested in 28 companies and carried out two exits. The investment business is part of Collector’s Corporate segment.

The purchase price amounts to SEK 330 million on a cash and debt free basis and is partly financed by a loan from Collector Bank AB on market terms. The book value of Collector Ventures amounted to SEK 321 million by 30 June 2020. The divestment is expected to have a limited effect on Collector’s result and financial position. Due to ownership restrictions in some of the portfolio companies of Collector Ventures the transaction is subject to approval from the Swedish Financial Supervisory Authority (“SFSA”) (Sw. Finansinspektionen). The transaction is expected to close during the first quarter 2021 as soon as such approvals have been received from the SFSA.

– Collector Ventures has grown to a large operation with 26 portfolio companies and it is now time to separate from Collector. We are pleased that NFT Ventures as co-founder of the business is taking over as sole owner to continue this journey. The divestment of Collector Ventures is part of the streamlining of Collector. Going forward we continue to focus on our core business and increasing profitability, says Martin Nossman, CEO of Collector.

For more information, please contact:
Peter Olsson, CFO
Phone: +46 73 712 04 46
E-mail: peter.olsson@collectorbank.se

Madeleine Mörch, Finance & IR Manager
Phone: +46 73 712 04 52
E-mail: madeleine.morch@collectorbank.se

This is information that Collector AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 10 September 2020 at 12:15 p.m. CET.
 

Collector is a challenger bank that offers financing solutions to private and corporate customers. Within the Private segment, the company offers lending to private individuals, invoice and payments by instalments to e-commerce and retail companies, credit cards and deposit accounts. The Corporate segment includes real estate lending, factoring and corporate lending directed mainly at small- and medium-sized enterprises and handling of portfolios of overdue receivables. The company has offices in Gothenburg (head office), Stockholm, Helsinki, Turku and Oslo. Collector AB (publ) is listed on Nasdaq Stockholm.

Collector AB (publ) 556560-0797 | Box 119 14, SE-404 39 Gothenburg | Exchange +46 10-161 00 00 | E-mail info@collectorbank.se | www.collector.se/en/

About Us

Collector is an innovative, digital, niche bank that offers financing solutions to private and corporate customers. Operations are comprised of the Retail and Corporate segments. Within the Retail segment, the company is engaged in lending to private individuals, invoice and payments by instalments to e-commerce and retail companies, credit card services and deposits. The Corporate segment includes real estate lending, factoring and corporate lending directed mainly at small and medium-sized enterprises and the acquisition of portfolios of overdue receivables. The company has offices in Gothenburg (head office), Stockholm, Helsinki, Turku and Oslo. Collector AB (publ) is listed on Nasdaq Stockholm.

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