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Digital SME lender Mynt challenges “Big Banks” in Sweden

Last January, during FinDec’s launch party, I had a pleasure to meet Baltsar Sahlin (picture left), CEO of fintech Mynt, which provides loans for small businesses.

Baltsar said that in 2019, Mynt will focus on their product and will need more input on PR and customer communication and together with Blockchain PR, would be ready to reach a bigger consumer-base beyond Sweden.

So, welcome Mynt to the Blockchain PR family!

Mynt app

Baltsar and his team started Mynt in 2017 because small businesses shy away from seeking financial support in the traditional banking system due to slow application processes and high service fees. Mynt came to cater to those seeking a digital, fast and fair way to get business funding.

Here is a quick interview with Baltsar:

Ana Paula: So Baltsar, Mynt provides loans for small businesses but how is Mynt different from other fintech companies providing the same service?

Baltsar: We allow companies to get a revolving credit, all online in our system. There is no other service like ours, that can give a small business a revolving line of credit, in Sweden, or Europe for that matter. We can integrate our service in accounting systems or invoicing systems. Our platform is built ground up and is easy to integrate. Mynt is aiming to be the most automated product there is for small business financing.


“Mynt is aiming to be the most automated product there is for small business financing. “

Baltsar Sahlin, CEO at Mynt

AP: Being a small business owner myself, I’m always looking for financial products that offer lower interest rates, how does Mynt positions itself?

B: We are a cheaper than other traditional lending institutions offering small business loans – thanks to our data driven credit scoring. There are about 50 or so companies doing invoice financing or business loans. We can remove companies that are not creditworthy with our algorithms, and in return offer better and fairer rates for companies that do qualify for a loan.

AP: Applying for a loan is always a daunting process but you mentioned that all the credit scoring and application process are done online which makes it much easier – How does that work?

B: We have a product, that allows companies to be in control. While we are happy to talk to our clients and potential clients, we also have a fully digital product that lets the company do everything themselves if they want. You can sign up and get a credit within 3 minutes, all online in our system.

For more about Mynt click here

Main picture: Mynt team

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