“We will shift up marketing and put ourselves on the map, refine the business and develop the company. We are satisfied with the investment round as the strategy was that we would keep it small, and chose not to go out on a broad front. Despite this, there was a great interest in the issue as many people today are interested in Fintech. The digital development is exciting and attracts people to invest”, says Johan Steneudde, Head of Relations, to Rapidus.

BetterWealth’s aim is to make online investments easier and more accessible. The startup conducts digital investment advice aimed at both individuals and companies together with a team of experts. In the future, the company will invest in broadening its customer base and entering the pension and insurance area.

“We must be sharp in what we do, and have a sharp product that is scalable and we compete with the big banks. We want people to switch to our service and show that we are the fresh alternative”, Johan Steneudde continues.

BetterWealth sees itself as an alternative that provides more diversified savings where the saver has more options to choose from when it comes to choosing assets.

“We point to more alternatives and to lower risk as well. The investment products have a steady stream of customers to us and more people are opening their eyes to both us and digital investment advice in general”, says Johan Steneudde.

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This week the Swedish session was held, during the Connect2Capital event. Of the eight finalists, three where from the Oresund region.

• Lupinta – which works with replacing meat with a new source of proteins, that is based on lupin instead of soy. This can grow natively in
  Europe. Based in Bjuv, as part of the Food Valley initiative there.
• Betterwealth – a startups focused on wealth management, that was just recently in the news, having raised their latest investment round. Based in Malmö.
• Xenergic – who have developed a new way to handle memories related to CPUs, making them a lot more efficient. Based in Lund.

Unfortunatly none of these won. The winner was Gothenburg legaltech startup Precisly.

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The aim is now to grow the service in Sweden, before expanding further.

“We want to establish us on the Swedish Market. We currently have close to 1000 users, and the aim is to grow further and to establish a strong brand in Europe” says Henrik Jönsson, co-founder.

Their tool enables savers to quickly set up a diversified investment portfolio, which they adjust automatically using AI and machine learning. AI enables the company to accurately predict risk and to make timely adjustment to their customers’ portfolios for higher risk adjusted returns.

The business model is to charge an annual fee of 0,75 percent for everyone with a total investment of 1.5 million SEK or less. For larger sums the firm charges a smaller fee.

The founders have a background in investments and AI. The startups was founded by David Jönsson and Martin Tegnér, one a former analyst at Danske Capital and the other a researcher within machine learning at Oxford University, teamed up with Andreas Pålsson, previous CTO at brisk.io. Since 2018 the team also includes Henrik Jönsson who has a past working as a quant and risk analyst at Blackrock.

BetterWealth has previously raised money from NFT Ventures and Collector Ventures. They have raised a total of over € 2 million this far. If that sparks some interest in you, you can learn how to make money with NFTs online.

By starting to save early, you can put your children on the path to a solid financial future. Junior ISAs let you save and invest on behalf of a child under 18. And with no tax on the earnings, the money you put away can grow even faster. Visit thechildrensisa.com today to open a Junior ISA

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Betterwealth

Betterwealth, an AI startup from Malmo, is nominated for the first time. It offers professional online investment service using robot advisor and a digital portfolio management. Their service is based on advanced data analysis including machine learning. Their aim is to keep the customer portfolios’ risk taking both more stable and well-spread, and less exposed to large losses.

The startup was founded in 2016 by brothers David and Henrik Jönsson and Andreas Pålsson, who are still main owners. With seven employees, they have launched their service last year. The have so far raised SEK 13 million (€ 1.2 million) from investors including NFT Venture and Collector Venture, and SEK 10 million (€ 1 million) capital round is open right now.

Cellevate

Cellevate is a biotech startup from Lund. It is nominated two years in a row. It focuses on developing nanostructures that resemble human cells, which can be used for biological research and drug development. What is special about them is that they allow cells to proliferate and interact with other cells in 3D.

“Our goal is to provide life science researchers with more realistic in-vitro models, for more relevant data and successful research”

It is currently part of an EU-funded collaboration to develop two products for pharmaceutical companies that work with neurodegenerative diseases, such as alzheimer. It also hopes that the material will soon be used for the production of such things as stem cells, protein and vaccines.

The startup was founded in 2014 by Maximilian Ottosson and Albin Jakobsson together with the chairman Lars Montelius. It has already delivered its services to customers and the turnover of last year was SEK 1 million. It also has completed SEK 5 million (approx € 500.000) capital round last year.

Cognibotics

Cognibotics is a Lund-based startup, which was listed last year as well. It mainly focuses on methods and services for high-performing and cost-effective determination of robot properties such as geometric parameters, backlash, friction, and nonlinear compliance. Also its calibration algorithms  greatly improves precision of manufacturing robots.

Now it has started to develop a completely new type of robot called hybrid kinematic. It does not intend to start manufacturing now, but hopes to license the production.

The startup was founded by six founders including CEO Klas Nilsson in 2013 as a direct spin-off from RobotLab at the faculty of engineering (LTH) at Lund University. It has 20 employees now and got sales almost SEK 9 million (€ 900.000) in 2018.

Vultus

Lund-based agritech startup Vultus is listed for the first time. It uses satellite image from NASA, which is freely available, to make fertilizers distribution more efficient. On almost all farms, fertilizers are spread evenly over a field because fermers do not really know where more nutrients are needed. Vultus can figure out the specific nutrient needs within the fields and providing farmers with detailed nitrogen recommendations by analyzing satellite image. The technology not only allow farmers to grow plants at a lower cost but also eliminate wastes in farming.

It was founded in 2016 and got SEK 1.6 million of turnover in 2018. It has 12 employees now and has raised SEK 4 million (approx € 400.000).

Radinn

Malmo-based Radinn, which is part of the 33-list for the first time, offers Electric wake boards. The startup is revolutionizing water sports because its electric jet board makes it possible to slide on the surface without having to rely on weather, winds or waves.

The company is ready to scale up the sales. The company had presented its prototype and later has started selling pre-series. Now it is ready to mass-produce the board for the world market.

It was founded by Alexander Lind in 2013. With its 20 employees, it achieved SEK 0.7 million in sales 2018 even though it was still pre-series. It has raised SEK 65 million (€ 6 million) so far and has aims of raising another capital round during this year. Main owners of Radinn are Founder Alexander Lind, together with Djäkne Startup Studios and a number of business angels.

Tendo

It is founded in 2016 by CEO Sofie Woge. The company is now driven by a crew of four experts. It has already closed its first investment round and raised SEK 4 million (approx € 400.000). Its development is supported by e.g. NASA (Houston), Ideon in Lund and Odense Robotics. This year, Tendo, a Lund-based startup, is listed for the first time. It provides robotic medical aid for people with gripping limitations.

Its first product is a glove that strengthens or even gives the grip ability again to people who struggle with daily activities due to spinal cord injuries caused at work. The system is like a puppet doll with ropes that pull the fingers.  It will be sold through orthopedic clinics in 2020 and it is highly recommended to treat workplace injuries for  which you may also want to have the help of expert work compensation lawyers to get a monetary compensation for this and all your medical expenses.

Xenergic

Lund-based tech startup Xenergic makes computers’ memory more efficient. The company, which is listed on the 33 list for the first time in 2019, has developed power-efficient cache memory. It is completely new architecture and design of the processor’s cache memory (SRAM). It is the fastest type in a computer and is directly connected to CPU. According to CEO  Babak Mohammadi, its memory can reduce the power consumption in a computer cache by 60 to 90 percent without affecting the performance of the computer.

It is co-founded by Babak Mohammadi, Joachim Rodrigues and Anders Berglund in 2017. It is now driven by the international team of 17 engineers. It has already raised SEK 8.6 million (approx € 800.000) and owned by three co-founders, with the investors being LU Innovation, Almi Invest and business angel Johan Qviberg. The product has not reached the market yet. However, the company hopes that the product will be ready during this year.

About “33-listan”

33-listan (the 33 list) is the list of 33 most innovative startups in Sweden. It has been published every year since 2008, and we have covered winners from this region before. One criteria for being listed is that startups no older then seven years at most.

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The platform uses machine learning and financial theories on risk management to create a personalised profile for each user.  For example, the algorithm automatically transfers money to more secure assets when the market becomes more volatile. The service is targeted at people, who have at least 50 000 Swedish kronor to invest.

“There are not many who offer this type of management service”, says Henrik Jönsson.

This year BetterWealth has received a long-awaited ‘green light’ to perform securities trading from the Swedish Financial Authority (Finansinspektionen). As a consequence, the financial group Collector and Bonniers’ venture capital branch NFT Ventures has entered the startup with SEK 8.8 million. At the moment, Collector Ventures owns the largest share, in comparison to other external partners.

“The goal this year is to bring in 100 million Swedish kronor in managed capital. In 2019 we aim to reach 500-1,000 million,” says David Jönsson to Rapidus.

However, the main plan for the company is to begin cooperating with banks and other financial institutions, so their customers could use the BetterWealth platform, when they want to invest their savings. The founders mention that it is supposed to take place before the end of 2018.

Source: Rapidus.

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