The divestment of Collector Ventures has been completed
On 10 September 2020 Collector AB (“Collector”) 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 required approval from the Swedish Financial Supervisory Authority which now has been granted and the transaction has been completed.
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 was 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 divestment only has a limited effect on Collector’s result and financial position.
– We are pleased that NFT Ventures as co-founder of the business is taking over as sole owner to continue the 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
Collector is a challenger bank that offers financing solutions to corporate and private customers. The corporate offering includes real estate lending, corporate lending and factoring directed mainly at small- and medium-sized enterprises as well as payment and checkout solutions. Private customers are offered personal loans, invoice and payments by instalments services, credit cards and deposit accounts. The company has offices in Gothenburg (head office), Stockholm, Helsinki and Oslo. Collector AB (publ) is listed on Nasdaq Stockholm.
Collector AB (publ) 556560-0797 | Box 119 14, SE-404 39 Gothenburg | Switchboard +46 10-161 00 00 | E-mail info@collectorbank.se | www.collector.se/en/