Opera to speed up European FinTech operations with Fjord Bank acquisition

Source: IBS Intelligence 2020-07-10

Norway-headquartered Opera Limited has announced its plans of acquiring Fjord Bank in a bid to accelerate its FinTech operations in Europe through new personal finance services. The company launched into the FinTech space in January 2020 with the acquisition of the Estonian FinTech PocoSys.

Opera stated that the AB Fjord Bank would be launching its first deposit and loan service in Lithuania during the summer of 2020.

“Opera has been making innovative browsers and apps for 25 years. Our browsers are the personal choice of millions of people who prefer them over those that come preinstalled on their devices,” said Krystian Kolondra, EVP Opera. “Looking at the fintech space in Europe, we believe it needs more and bigger challengers who should provide people with smarter and empowering solutions for their personal finances.”

Opera acquired a 9.9% interest in AB Fjord Bank via a share subscription, completed on the 3rd of July 2020. The acquisition of the remaining stake is pending regulatory approval.

Founded in 2017, AB Fjord Bank is a full-digital consumer bank. In December 2019, it was granted a specialized bank license by the European Central Bank, following the assessment and proposal of the Bank of Lithuania. AB Fjord Bank’s head office is in Vilnius, Lithuania.

“We are looking forward to joining the Opera family, and accelerating its plans to grow its unique product offering,” said Veiko Kandla, CEO of AB Fjord Bank, “With the support of Opera, we are also excited to launch our first banking services in Lithuania this summer.”

Opera Limited

AB Fjord银行

Opera to speed up European FinTech operations with Fjord Bank acquisition

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