From: FinTech Global
FinTech Anyfin has found itself in the Swedish Consumer Agency’s crosshairs again after two new commercials possibly broke the law.
The Swedish venture, which raised $30m in a Series B round earlier this year, is set up to provide better terms for loans.
However, two new commercials have landed Anyfin in hot waters with the Swedish authorities. Again.
The two ads essentially said that if customers recruited another client to Anyfin, they’d get SEK200 or roughly £17.6, in credit for their next invoice.
The Swedish Consumer Agency is now investigating whether the commercials, which has since been removed from Anyfin’s YouTube channel, have breached the legislation stipulating that companies must show moderation, according to Breakit.
The regulator also found it “considerably damning” given Anyfin has previously faced harsh criticism form the authority for other commercials breaking basically the same rules.
An Anyfin spokesperson told Breakit that the company will consider and learn from the Swedish Consumer Agency’s critique and that it aims to engage in a fruitful dialogue with the regulator.
The Series B round was led by EQT Ventures and also saw backing from Accel, Northzone and Rocket Internet’s Global Founders Capital (GFC).
Anyfin closed a Series A round back in 2018 on €4.8m from Accel, Northzone Global Founders Capital and a number of angel investors.
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