STOREBRAND ASA: Kron and Storebrand join forces: "The barrier for investing is too high"
On 3 January 2023, Storebrand's acquisition of Kron will be completed. Kron and Storebrand want to lower the barrier for retail investments. Half of the Norwegian population has not yet started investing in funds or shares.
The companies will together take on the task of making it easier and more enjoyable to become an investor. What has previously been reserved for professionals will now be available to everyone.
"We have been impressed by the enthusiasm for investments which Kron has created. Now, with all the necessary approvals in place, we can start to work on our common ambition – to make good investments available to everyone. We are confident that Kron's user experience, together with Storebrand's strong distribution power and product expertise, will appeal to both existing and new customers," says Odd Arild Grefstad, CEO of Storebrand.
Storebrand's new investment app
From the turn of the year, Kron will become Storebrand's investment app, which the companies will continue to develop together. Kron has experienced remarkable growth, tripling the number of customers last year, while assets under management increased sevenfold. Storebrand has 1.5 million retail customers in Norway.
"Many people probably find it both boring and difficult to start investing their savings. The barrier is far too high. We want to make what has previously been reserved for the pros available to everyone. Through smart use of technology, we will make investing easier, more social, fun and engaging. Now we are ready step up the pace, and look forward to turning Norwegians into enthusiastic investors," says Emma Tryti, CEO of Kron.
Few have started investing
27 per cent of Norwegians' savings are invested in funds and shares, according to figures from Statistics Norway, VFF, Finance Norway and AksjeNorge.
"Norwegians are increasingly investing in funds and shares, which have historically yielded good returns. The fact that we live longer makes it even more important to invest in the future. However, half of the population and predominantly women have not yet started investing. We believe the key is to make investments more accessible to everyone. Starting next year, Kron will be the investment app for our 1.5 million customers," says Heidi Skaaret, Executive Vice President Retail Market at Storebrand.
About Kron
Kron is a digital investment app for fund and pension savings. More than 70,000 clients have opened investment accounts in Kron. Based on its rating in app store and google play, Kron is Norway's most liked investment app. Customers use Kron actively, and a large percentage of customers use the app daily.
For further inquiries, please contact:
Head of Investor Relations & Rating, Daniel Sundahl:
daniel.sundahl@storebrand.no or (+47) 913 61 899
Storebrand is a Nordic financial group, delivering increased security and financial wellness for people and companies. We offer sustainable solutions and encourage our customers to take good economic decisions for the future. Our purpose is clear: we create a brighter future. Storebrand has about 55.000 corporate customers, 2.2 million individual customers and manages NOK 1,001 billion. The Group has its headquarter at Lysaker outside of Oslo, Norway. Storebrand (STB) is listed on Oslo Stock Exchange.