Fintechs To Watch

TaxHelper

Founded: 2020 Traction: Saves their users 2.300 DKK on average.

Debbie

Founded: 2020 Traction: Currently collecting debt from 100.000 cases worth 437 mio. DKK.

Tobi

Founded: 2017 Traction: Offers an estimated 5% annual return on child savings.

Danes cheat themselves from 11 billion tax-kroner each year which ends up in government coffers instead. Tax Helper has created a platform that makes it easy for the user to find, calculate and get the tax deductions they qualify for. The platform asks the user a series of questions about their activities the past year, and calculates tax deductions based on the answers. If the user gets additional tax deductions through the platform, TaxHelper takes a cut of the savings for the trouble.

Rumly

Founded: 2020 Traction: Offers 3-way swap of homes “Andelsboliger” - co-housing - makes up for a third of the building mass in Copenhagen. That kind of housing sometimes involves years on a waiting list, but once you're in you are, in most cases, allowed to swap home with someone else. However, only a few people know this, which makes the swapping-market very opaque. Rumly set out to change that. The startup has developed a marketplace which allows users to register their own property and indicate which type of home they are looking to swap it for. From here, Rumly’s unique SwapMatch algorithm will ensure the users are only presented with properties where mutual wishes are fulfilled. And the startup even allows 3-way swaps to make the model more efficient. Debbie wants to make debt collection a nice experience. This might sound counterintuitive, but through its AI-driven approach, the platform helps collect debt in the most gentle yet effective way. Their goal is to completely automate the process so no manual labour is needed in debt collection. A series of companies have used Debbie as their internal platform for debt collection for a while, but earlier this year, the platform opened up to the public.

Optiilo

Founded: 2019 Traction: Constantly tracking more than 600 bonds Every homeowner knows how complex the mortgage market is. With its abundance of different products even professional financial advisors sometimes find it hard to navigate the multiple possibilities. For that reason, the startup Optiilo offers intelligent monitoring of the market. The platform provides a simple and intuitive overview and notifies the user when they can benefit from restructuring their loans. Optiilo tracks more than 600 bonds and by combining the data with their intelligent system they deliver monitoring for professional stakeholders in the financial sector. Interest rates are historically low, and this is also the case for child savings accounts. The fintech-startup Tobi offers an alternative way: they help users invest their money instead of saving them for their child on an account with a low interest rate. The platform automatically invests based on the parents risk-profile and when they expect their child to get the savings. This way Tobi offers an estimated annual return of 5% compared to an average 0,71% on traditional child savings accounts. There is no limit on the amount parents or grandparents have to invest each month, and Tobi takes care of the complex taxing involved in investing gifts.

Tjommi

Founded: 2018

Traction: 30.000 users

Tjommi is norwegian slang for “buddy”, and the founders want to be just that: a buddy who notifies the user when there are savings to be had. The user uploads their invoice from online purchases to the app, and if the items they have bought are found cheaper elsewhere or go on sale a few days later, the app fetches the price difference on behalf of the user. The company was founded in Norway in 2018, where it already has 30.000 users, but moved into Copenhagen Fintech Lab this year to boost the growth.