The Sweden-based fintech Anyfin has announced launching their loan platform in Germany.
The launch will take place towards the end of March 2021, yet a German homepage has already gone online. Anyfin aims to help customers find cheaper offers on their consumer loans.
The target demographic is primarily the younger generation, who tend to make more expensive purchases through financing.
Users can send a photo of the current monthly loan bill to Anyfin via the app and the company looks for cheaper loan offers. According to Anyfin, more than 30,000 customers have already reduced the effective interest rate on their installment loans, partial payments, and credit cards by an average of 64 percent along the way.
Users only get an offer if Anyfin finds a loan option with lower interest rates. There is no fee for this service, instead, Anyfin earns from the interest that customers pay them.