Matters raises $5m to pursue AI-powered consumer banking
Image: Primary Stockholm startup Matters has raised $5m in pre-seed funding led by Swedish angel investor Jakob Johansson to build an AI-powered consumer bank. The company will use the money to apply for licences, expand across the EU and grow its 14-person team; it may also make acquisitions.
Matters plans to charge a flat monthly fee for everyday banking and an AI adviser, while returning merchant card charges and currency exchange fees to customers as cashback. Former Nordnet chief executive Lars-Åke Norling has joined as chair. Matters says its first consumer product will launch in the coming weeks, but it has not specified which licences it will seek or its first launch countries.
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