"Pål Ljungberger, CEO and Johan Jensen, COO at Roaring."
Credit: Joel Sherwood/SEB
SEB, a leading northern European financial services group, is entering into a strategic partnership with Roaring. As part of the partnership, SEB is also making a strategic investment in the company. "We are delighted to deepen our relationship with SEB,” says Pål Ljungberger, CEO of Roaring.
The partnership and investment follow a period of testing and implementation of Roaring’s technology into SEB’s innovation studio SEBx, a strategic initiative focused on exploring new technologies and future customer offerings. Roaring is today powering parts of the onboarding and monitoring processes for SEBx’s first product UNQUO, a financial service developed to make life as a solopreneur easier.
“We have been working with Roaring to explore new ways of building innovative processes supporting a better customer experience," says Christoffer Malmer, Head of SEBx. “Roaring’s technology and modular data services have allowed us to rethink the way we design our customer and business processes. With the opportunity to build a bank from the ground up, we are looking to find partners that bring fresh perspectives to a traditional industry. We are excited to partner with Roaring on this journey.”
The partnership also entails a strategic investment in Roaring by SEB Venture Capital, making SEB one of the company’s larger institutional investors.
“Our investment in Roaring is a natural progression of our relationship - we like the team and the technology,” says Fredrik Ljungblad, Investment Manager at SEB Venture Capital. “We are looking forward to contributing to Roaring’s growth agenda.”
The capital enables Roaring to expand its customer relationships in the Nordics while continuing to expand to additional European markets, with the ambition of setting a new standard in customer data management.
“Knowing that secure, reliable, and compliant data services are a key priority for financial institutions, we are proud to have proven our ability to secure SEB as a customer, partner and now investor” says Pål Ljungberger, CEO of Roaring. “Working closely with our customers is key to our success and knowing that we can develop our products in collaboration with an active partner will strengthen our product offering.”
SEB will also explore opportunities arising from the strategic partnership with Roaring within other parts of the bank, through its new unit Exploratory & Partnerships.
At Roaring.io we strive to develop a close and strategic relationship with our customers. SEB’s investment is a fantastic token of legitimacy and credibility that our services meet the high standards of a large bank and/or provider of financial services.
This type of industry collaboration is quite common when it comes to non-competitive infrastructure. An example is the investment that SEB made in fintech company Tink a few years ago, which led to Tink building the necessary infrastructure that later became the market standard. Similar to how Tink became the market standard for private account data, we strive to become the market standard for all relevant public data.
Every new customer we provide our API solutions and other services to, strengthens our position as a preferred partner. We aim to empower companies in their journeys toward streamlined, automated and efficient business, and look forward to working with you!
Founded in 2016, Roaring has quickly become one of the most exciting companies in customer data management. The company offers services to enable streamlining and automation of various business processes, through high-quality customer data API’s and webhooks.
The company has experienced rapid growth, with an average of more than 300% revenue increase year-on-year since 2016. Roaring is now serving some of the most established Nordic brands within the banking, finance and insurance industries, and is now eyeing expansion to additional European markets.