Kron
Creates user-friendly solutions, offers low prices and fight for investment to be more accessible to everyone.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
* | NOK400m Valuation: NOK400m 46.9x EV/Revenue | Acquisition | |
| Total Funding | 000k | ||
| NOK | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 1653 % | 135 % | 126 % | 112 % | 69 % | 49 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (21599 %) | (2857 %) | (1499 %) | (1293 %) | (1054 %) | (880 %) | (433 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Related Content
Kron, a Norwegian fintech company established in 2017, operates as a digital wealth management platform, aiming to make investment and savings more accessible to the general public. The company was founded by a team with deep roots in the financial sector, including Ivar Blekken, Maciej ´Mac´ Bereski, and Thomas Skovli. Their collective experience from Formuesforvaltning, a prominent wealth management firm in the Nordics, provided the foundation for Kron's development. The journey began with the idea of leveraging technology to offer the sophisticated investment advice typically reserved for the wealthy to a broader audience. Blekken, with his background as a portfolio manager and director, spearheaded the initiative, which was initially incubated within Formuesforvaltning before spinning off.
The firm's primary service is a user-friendly application that guides individuals through the process of setting up savings and investment plans. Kron's platform utilizes algorithms to create personalized fund portfolios based on a user's financial situation, risk tolerance, and savings goals. The service targets retail investors in Norway, offering a simple interface to invest in a curated selection of mutual funds and index funds. Kron's business model is centered on a transparent fee structure, charging a percentage of the assets under management. This approach aligns the company's revenue with the growth of its clients' investments. For instance, the fee for their popular index fund package is a competitive 0.15%.
A significant milestone in Kron's history was its acquisition by Storebrand, a major player in the Norwegian financial services market, in a deal announced in late 2021 and completed in early 2022. The acquisition, valued at approximately 400 million NOK, allowed Kron to continue operating as a separate brand while integrating its technological solutions into Storebrand's broader ecosystem. This strategic move provided Kron with substantial resources and a larger distribution network, accelerating its mission to enhance personal savings and investment for Norwegians. Following the acquisition, Kron has managed to grow its assets under management significantly, reaching over 9 billion NOK from more than 80,000 customers by early 2024.
Keywords: wealth management, fintech, digital investment, personal finance, savings app, asset management, mutual funds, index funds, robo-advisor, financial services