Swedish ‘neobank’ P.F.C. picks up €5M backing from Nordic banking giant Nordea

INSUBCONTINENT EXCLUSIVE:
P.F.C
Backing the young company is Nordea, the largest bank in the Nordics region.In other words, chalk this up as another example of an incumbent
present in 20 countries, including having a stronghold in Denmark, Finland, Norway and Sweden
Also targeting the Nordics, P.F.C
is tiny in comparison
The neobank says it hopes to get to 100,000 users by the end of the year.Described as a personal finance app and accompanying debit card,
P.F.C
is regulated under a payments institution license rather than being a fully-licensed bank
features include being able to instantly top up your account/card using Swish (a mobile payment technology provided by a group of Swedish
banks), the ability to set a weekly budget, and automatic transaction categorisation.In addition, you can freeze, unfreeze, change your pin
and order a new card directly within the P.F.C
app
says there are no additional fees for purchases and ATM withdrawals abroad.Other soon-to-launch features include the ability for friends and
are delighted to have P.F.C
in our portfolio as it provides a personalized digital solution for customers
We see the investment as a great opportunity for us to team up and support P.F.C