Investment story

A leading Scandinavian fintech giant awakening

Hudya was created in August 2016 when three entrepreneurs - Børge Leknes, Morten Kvam and Pål Lauvrak - gathered around a common vision of collecting multiple everyday services on a single digital platform, and thereby offering a service that they themselves felt was missing. The platform would make it easier for consumers to review their various services and create greater transparency regarding prices, terms and agreements. Furthermore, they were certain that increased digitization and efficiency would enable lower consumer prices.

Let us tell you more about Hudya, click on the heart below.

Where are we today?

Since its inception, Hudya’s successful acquisition strategy has created a Scandinavian company with 220 employees and operations in power, insurance, consumer credit and telecom. The same strategy has enabled Hudya to acquire the skills needed to build a complete digital platform for sales and support. Parallel digitization and streamlining have resulted in reduced sales costs through cross-selling of services.

Hudya's platform

Hudya's operations are based on the digital platform that has been built up since day one. Using the platform, private consumers and small to medium-sized companies can easily choose or change everyday services, lower their costs and get a better overview of their agreements. The service offerings are presented on the platform and are offered directly by Hudya or through partnerships.

 Hudya's current business consists of four main parts:

  • Consumer credits
  • Telecom
  • Insurance
  • Power

 Parallelly, several fintech solutions are under development or already in place; such as payment services, peer-to-peer and in-store payments, etc. In 2019, the Norwegian fintech company Payr AS was acquired, loaded with new technology and many new customers that were passed on to the Hudya Group. Digital payments technology that through the use of AI offers consumers means to lower their costs, is of particular value to Hudya - as a strong breeding ground for customer stickiness and long-term growth.

Where are we going?

Now that we have realized the vision of creating the innovative platform that allows our customers to save money on everyday services - and our support, sales and distribution operations are in place - Hudya is well-equipped and ready for the next step on the development journey: growth by a continuous increase of new customers and establishment in new geographical markets.

Our Company

Hudya is a well-established company in Scandinavia with experienced management and board of directors and approx. 220 employees.

Our idea: Combining fintech and AI to simplify life and cut costs

We are the only player offering several everyday and fintech services in one platform. We offer attractive everyday products at a low customer acquisition cost, using the platform for effective distribution and customer interaction to enhance customer stickiness and perceived value.

Our model: We have created an innovative digital platform for cross selling several products. Our powerful Scandinavian sales force and skilled support team ensure high customer stickiness and low churn. We are using M&A and cross sales to scale the business.

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