Andreas von Buchwald

Festina Finance joins the billion valuation club as Netcompany increases its stake Danish fintech Festina Finance has reached a new milestone with a 1 billion DKK valuation following a fresh investment from Netcompany. The IT giant upped its ownership from 20 to 22 percent, valuing the company nearly twice as high as when it first invested in 2023. Festina Finance develops core systems for banks and pension companies and has been gaining ground in the Nordic and Dutch markets. The company’s CEO Mikael Braagaard confirms ongoing conversations with new investors and reiterates the long-term ambition of reaching unicorn status. According to him, momentum is building while investor interest continues to grow. The valuation jump reflects broader trends in fintech infrastructure. Netcompany’s recent acquisition of SDC for 1 billion DKK marked a rare shift in Danish banking, where datacentres have traditionally been owned by banks themselves. That model is changing. With Netcompany Banking Services now in place, Festina Finance sits at the intersection of a consolidating infrastructure play and a growing demand for modern advisory tools. While Festina Finance posted a loss of 22 million DKK last year, revenue grew to 171 million. Like many high-growth companies in the sector, the past years have been defined by investment and expansion rather than profitability. With a stronger institutional shareholder base, rising international presence and a clearly stated unicorn goal, Festina Finance is positioning itself as a next-generation fintech infrastructure provider.

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Christian Axberg didn’t start in tech. He started in hospitality.   Since then, he has led transformations in pharma, IT, and fast-growth startups, and now serve as Partner at Amrop Sweden, advising senior execs on leadership in the digital age.   His biggest insight?   Relevance isn’t tied to a title. It’s tied to your ability to evolve.   In this conversation, Christian shares what he sees as the non-negotiables for tech leadership: → Curiosity - not just for tech, but for people → Courage - to step into change before it’s comfortable → Collaboration - across silos, egos, and uncertainty For leaders navigating complexity, AI disruption, and shifting cultures — his perspective is a timely reminder:   The edge doesn’t come from knowing more. It comes from thinking differently.   What belief has kept you relevant through every shift in tech? → https://lnkd.in/dwj6Q_n4

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ABG Sundal Collier acted as Exclusive Financial Advisor to Formpipe Software AB and its shareholders in connection with the sale of its Public Sector business area to STG. Read more: https://lnkd.in/dArfTXfu  

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Plesner acted as legal advisor to the Danish private equity fund Capidea in connection with the acquisition of a majority stake in TourCompass, a leading digital tour operator specialising in experience-driven package tours to long-haul destinations. Plesner's core M&A team on the transaction comprised Henrik Rossing Lønberg, Christian Frank Madsen, Julius Sander, Annemette Guldborg Jensen and Anne Vorup. https://lnkd.in/dF6Ab65N

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William Blair acted as the exclusive financial advisor to Meribel Pharma Solutions, a portfolio company of BLUE WOLF CAPITAL PARTNERS LLC, in connection with the sale of its Strängnäs facility to APL (Apotek Produktion & Laboratorier AB). Learn more: https://lnkd.in/gBWC7taS

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Santander Corporate & Investment Banking has acted as financial advisor to Zenobē and its sponsors KKR and Infracapital in their raise of a new €325m multicurrency debt facility. The facility is provided in multiple currencies (EUR, DKK, NOK, and SEK) to support Zenobē in expanding their electric bus fleets-as-a-service across the European market. This is a landmark transaction that will allow the incorporation of up to 1,000 electric buses, trucks and chargers, and consolidates Santander Corporate & Investment Banking’s position as a key advisor for the clean-mobility transition.

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The Nordic Consumer M&A report for H1 2025 is now live! The report covers transaction activity and valuation trends across the Nordic Consumer markets during the first half of 2025. Deal activity has remained stable compared to H2 2024, with Nordic volumes outperforming other European markets despite ongoing macroeconomic uncertainty. While trading multiples are still below their historical averages (a large selection of listed consumer companies at 8.2x EV/EBITDA vs. 5-year average of 9.8x), consumer confidence has shown signs of recovery in Sweden, Norway, and Finland - indicating a cautiously optimistic outlook for the sector. For insights into sub-sector trends and notable recent transactions, explore the full report. Feel free to reach out to our Consumer M&A team if you have any questions or would like to discuss market opportunities.

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𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐭𝐮𝐫𝐧 𝐄𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧𝐬 (𝐒7𝐄21) (Links in first comment below) In this episode, I speak with Antti Ilmanen, Principal and Global Co-head of the Portfolio Solutions Group at AQR Capital Management.  Antti has long been one of the most thoughtful voices in the world of expected returns, having written not one, but two landmark books on the subject. But in his latest paper series, he returns to the topic with fresh urgency—probing the difference between objective and subjective expectations, and asking why even rational models can go so wrong in real time.  We explore everything from CAPE ratios and market timing accusations, to why equity investors tend to extrapolate while bond investors expect mean reversion. We dig into how behavioral biases, valuation anchors, and structural shifts collide when forming capital market assumptions — and how Antti and the AQR team try to navigate that mess themselves.  If you’re in the business of long-term forecasting or just curious why markets often act like they’ve never read the textbooks, this is a conversation you won’t want to miss.  Please enjoy my conversation with Antti Ilmanen. 🎯 Objective vs. subjective forecasts 📉 Analysts' overoptimism 📊 CAPE's role (and its limits) 🌍 Macro surprises & market rationality 📈 Growth extrapolation ≠ equity returns 🤖 AI’s impact on future yields 🇺🇸 US exceptionalism—real or not?

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🏦 Northmill Bank reports strong Q2 profits while targeting EU expansion beyond Nordics Swedish challenger bank Northmill reported quarterly pre-tax profits of 56 million kronor (€5.1 million), up from 46 million kronor the previous year, as it targets 𝗘𝗨-𝘄𝗶𝗱𝗲 𝗲𝘅𝗽𝗮𝗻𝘀𝗶𝗼𝗻 beyond its current Nordic markets. The bank currently operates in Sweden, Norway, and Finland, serving around 140,000 retail and 4,000 business customers. Founded in 2006 and licensed in 2019, Northmill secured its Q2 growth through consumer card expansion, now numbering over 140,000 cardholders. 💬 Julie Chatterjee, Northmill CEO said: "We want to continue expanding our presence, with Finland as a key priority — and next year, into new markets as well. Our playground is the entire EU." The bank is strategically implementing AI tools across operations, including coding assistants, marketing automation, credit decision processes, and customer service support. Source: https://lnkd.in/ggEBdp66 This and more digital banking news in my newsletter — sign up here: https://lnkd.in/ecvqiKBY Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁] Nice story. Next! [ 𝗹𝗶𝗸𝗲 ]

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