Beringer Finance has raised NOK 240m for Norwegian challenger bank MyBankJanuary 30, 2017
Beringer Finance was retained as sole manager for MyBank’s first market issue of NOK 240 million.
The equity issue enabled the bank to meet its capital requirements under the conditional banking license obtained from the Norwegian Financial Supervisory Authority in July 2016, and to fund the bank’s operations in accordance with the business plan.
MyBank is a newly established Norwegian challenger bank offering consumer loans and deposit accounts to online and mobile consumers. MyBank distributes solely through external channels (loan agents), enabling an efficient and highly scalable business model. The founders have extensive experience from retail banking and from establishing and operating loan agents, such as Finansa/Zmarta Group and Norsk Boligfinans. MyBank will commence operations during Q1 2017.
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Beringer Finance has more than 100 years of experience as a trusted advisor within Corporate Finance and Capital Markets. We offer in-depth industry and transaction knowledge, focusing on creating long-term value for our clients in all phases of their growth and transition. Over the past 20 years Beringer Finance has completed more than 300 projects with an aggregate transaction value of more than USD 22 billion, ranging from larger cross-border transactions to smaller domestic deals. In June 2016 Beringer Finance and Fondsfinans joined forces and today has more than 80 professionals working in offices in Oslo, Stockholm, Reykjavik, Palo Alto and New York (Fondsfinans Inc).