Safello Group AB Publishes Annual Report for 2023

Stockholm, 5 April 2024 | Today, Safello Group AB (“Safello”) publishes the company’s annual report for 2023. The annual report is available in Swedish, with an English translation, on the company’s website: safello.com/ir.

“In many ways, 2023 has been one of the most eventful years in Safello's history, with a focus on strengthening the company's operational resilience and financial infrastructure. Throughout the year, the implementation of several payment methods took place, and a comprehensive bank migration to a new Swedish bank occurred.

In the third quarter, Safello won the Police Authority's procurement to become the exclusive provider of cryptocurrency exchange services to the Swedish Police Authority, the Swedish Economic Crime Authority, and the Swedish Customs. With Safello's relaunch of Swish in the fourth quarter, the market regained renewed momentum, leading to higher activity among customers. The previously communicated cost savings had full effect in the fourth quarter, enabling Safello to deliver a positive EBITDA in the fourth quarter.

With the financial infrastructure secured, we are focusing on the development of our product and user experience to meet customer demand. Compliance and customer protection remain of utmost importance, and therefore, we are continuously allocating resources to the ongoing implementation of the Markets in Crypto Assets (MiCA) regulation, which will regulate the European crypto market in the future. The commitment to always be our customers' Safe Fellow in crypto remains, in our ambition to onboard millions of people to the decentralized economy”, says Emelie Moritz, CEO of Safello.

For environmental and cost reasons, Safello Group AB has decided not to print the report. A printout may be distributed to shareholders upon request.

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For more information, please contact
Viktoria Berglund Blohmé, Head of Finance, ir@safello.com

Certified Adviser
Amudova AB is Safello’s certified adviser.

Safello is the leading cryptocurrency exchange in the Nordics, with over 358,000 users. The company is empowering financial independence by making crypto accessible to everyone. Safello offers a secure way to buy, sell and store crypto in seamless transactions at industry-leading speeds. Operating in Sweden, Safello has been registered as a financial institution with Finansinspektionen (Swedish Financial Supervisory Authority) since 2013 and is listed at Nasdaq First North Growth Market since 2021. For more information visit www.safello.com.