Okida
Specializes in helping who for various reasons have lost control of finances, to a new financial everyday life.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | NOK7.0m | Angel | |
| Total Funding | 000k | ||
| USD | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 441 % | 168 % | 169 % | 125 % | 18 % | (10 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (15 %) | (27 %) | (18 %) | (13 %) | 3 % | (23 %) | (14 %) |
| 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
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Okida Finans AS, established in Norway in 2018, operates within the financial technology sector, providing a digital platform for loan brokerage. The company's core business revolves around a web-based service that allows private individuals in Norway to apply for loans and receive offers from multiple banking institutions. Okida specializes in debt refinancing, particularly for individuals with non-standard financial situations, such as those with payment remarks or irregular income. The service focuses on consolidating consumer loans, credit card debt, and other outstanding payments into a single mortgage-secured loan, a product often referred to as an "omstartslån" or "fresh start loan".
The service is provided free of charge to the consumer. Okida's revenue model is based on commission fees received from the partner bank that ultimately disburses the loan to the consumer. The application process is handled through a proprietary digital infrastructure, which includes a CRM system integrated with its banking partners to streamline communication and processing between the applicant, Okida's advisors, and the banks. The company's target clients are individuals who may not qualify for loans from traditional banks, such as freelancers or those who have experienced financial difficulties. By leveraging the equity in a client's home, Okida facilitates the settlement of more expensive, unsecured debts, aiming to lower monthly payments and provide a clearer financial path forward.
The company was founded on February 1, 2018. Jebanathan Sithamparanathan serves as the CEO (Daglig leder). Okida employs a team of over 20 advisors who guide clients through the application process. The platform partners with up to seven banks to process loan applications, with a maximum loan amount of 20 million kroner. The firm is a member of FinAut, an industry body for financial advisors in Norway. As a strategic goal, Okida aims to possess the leading technology for loan brokerage in Norway, focusing on user-friendliness and efficient application processing.
Keywords: loan brokerage, refinancing, debt consolidation, omstartslån, mortgage-secured loans, personal finance, fintech, Norway, consumer loans, credit card debt, financial services, digital lending, loan comparison, financial advisory, bad credit loans, secured loans, home equity, loan application platform, financial technology, debt management