Swedish startup Matters raises $5 million to launch AI‑driven consumer bank

Swedish fintech startup Matters announced a $5 million pre‑seed round that brought together a group of well‑known angel investors. The round was anchored by Jakob Johansson and included former Klarna COO Knut Frängsmyr, Voi co‑founder Douglas Stark, Röko CEO Johan Bladh, Validio CEO Patrik Tran and Evoke CEO Per Widerström. Founder and CEO Per Österström said the capital will fund regulatory licensing, expansion across the EU, growth of its 14‑person team and user acquisition. The company also named former Nordnet CEO Lars‑Åke Norling as chair to guide its regulatory strategy.

Matters is building an AI‑native consumer bank that merges neobank services with an AI advisor to help customers manage spending, save more and reach financial goals. The platform will charge a flat monthly subscription and return a portion of transaction‑related revenue, such as interchange and foreign exchange fees, to users via a cashback scheme. CEO Österström has said the bank intends to align its revenue model with customers’ interests, contrasting with traditional banks that profit when consumers overspend. The startup plans to launch its first consumer product in the coming weeks and is exploring strategic acquisitions to accelerate its growth.