Bricknode raises funds to launch an EU-licensed stockbroker for neobanks and fintechs

The company has applied for a securities brokerage license and expects the service to be operational by the first quarter of 2023.

Bricknode secured a SEK 5 million loan to support the company’s goal of establishing a licensed brokerage subsidiary, including the required regulatory and operational capital.

The company disclosed the terms of the loan, which consist of a loan of SEK 5 million for a term of one year at an interest rate of 1.5% per month.

The SaaS financial services platform previously announced plans to launch a licensed brokerage subsidiary in 2022 to provide brokerage services to clients who do not have their own regulatory clearances.

Bricknode already provides brokerage software and technology to several companies that do not hold their own brokerage license through a partnership agreement. However, the company wants to obtain its own license in order to become the brokerage service provider for its customers instead of sending them to another provider.

Platform + brokerage outsourcing + regulatory umbrella

As new market entrants, including neobanks and fintechs, challenge the status quo of the trading industry, they also face challenges to meet regulatory requirements and quickly bring new solutions to market. market. Bricknode aims to extend a regulatory framework to companies wishing to offer investment services in the EU.

Bricknode wants to help businesses offer their own investment products through its core brokerage software and technology platform, Bricknode Broker.

The company is thus setting up an all-in-one solution for the launch of new investment services: a software platform, brokerage outsourcing and a regulatory umbrella.

The company has applied for a securities brokerage license and expects the service to be operational by the first quarter of 2023.

At the time of the announcement, Bricknode Founder and Managing Director, Stefan Willebrand, said: “Investment is a big market right now and companies looking to capitalize typically face lengthy development projects and challenges. regulations. By applying for a brokerage license, we are one step closer to offering our own regulatory umbrella to clients and making it even easier for them to launch investment solutions.

Bricknode helps businesses launch digital banking products, from investment management to funds, loans, deposits and savings. The company also offers outsourcing solutions for back-office administration.

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