Next Generation Partners

Fintech in Sweden

Mannheimer Swartling

Mannheimer Swartling is highly active in the fintech space, drawing on the firm’s strength in all related practice areas to offer expertise covering regulatory and intellectual property issues as well as transactions and disputes, among other areas. The team is at the forefront of developments in Sweden, with recent work including advising on distributed ledger technology and its place in the regulatory landscape; the group also has a strong track record in advising leading Swedish start-ups. IT and tech law specialist Anders Bergsten has considerable experience handling large-scale IT projects in the banking sector, while Carl Johan Zimdahl chairs the firm’s financial regulation practice; he recently assisted three major fintech clients with applications to become electronic money institutes. Banking and finance practice head Thomas Pettersson has extensive regulatory expertise, and Carolina Flagge (Sandell) is the key name at senior associate level.

Practice head(s):

Anders Bergsten; Carl Johan Zimdahl; Thomas Pettersson

Other key lawyers:

Carolina Flagge (Sandell)


‘The team distinguishes itself in the Swedish market with its depth of experience, client-centric approach, and skilled, hard-working team that consistently delivers results that make a meaningful business impact. They invariably provide exceptional, high-quality, and solution-oriented legal advice, consistently exceeding client expectations.’

‘Carl Johan Zimdahl has an extremely analytical mind and a great knowledge of financial regulations. He is able to tackle the most complex regulations in the financial market.’

‘Carolina Sandell is an extremely easy person to work with that is highly involved in the fintech scene in Sweden. She sees the possibilities in new technology and is amazing to work with.’

‘Carl Johan Zimdahl is one of the market leaders on regulatory matters and provides exceptional, high-quality, and solution-oriented legal advice on complex regulatory matters. He is extremely responsive and puts in the time and effort you expect from a top-tier law firm.’

‘Carolina Flagge is an outstanding lawyer. She is pro-active, super reactive, gives high-quality legal advice, has fantastic knowledge of business and the market, and is very attentive (she listens closely). Her advice is practical and shows a great commercial approach to finding solutions. She provides some of the best advice in terms of overall quality one will ever get.’

‘Mannheimer stands out for its knowledge and expertise, but also for its service level. The lawyers are always accessible and take the time to answer questions.’

‘This is a skilled firm that understands complex markets and regulations, such as the role of tokenised depositions and regulated liabilities in the financial ecosystem.’

‘Mannheimer has deep knowledge and is able to answer advanced questions regarding how distributed ledger technology fits within the financial market and what effect new and upcoming regulations will have.’

Key clients

Klarna Bank

Juni Technology


Centiglobe / Centiglobe Technology


Work highlights

  • Advised Juni Technology AB in relation to its application for an Electronic Money Institution (EMI) licence from the Swedish Financial Supervisory Authority.
  • Acted as sole legal counsel for Klarna Bank AB in its successful appeal of the Swedish Financial Supervisory Authority’s decision on applicable Pillar 2 Guidance.
  • Acted for Nasdaq OMX in its appeal of a sanction decision issued by the Swedish Financial Supervisory Authority (SFSA) relating to alleged violations of the European Market Infrastructure Regulation, (EU) No 648/2012 (EMIR).


Setterwalls’s dedicated fintech group boasts a client roster that includes banks, government departments, and international fintech companies, and advises on a wide range of high-profile matters. The team continues to advise the Central Bank of Sweden in relation to various money and legal payment infrastructure projects, including the regulatory issues associated with its proposed electronic currency. Practice head Joacim Johannesson has advised Swedish and international investors, entrepreneurs, start-ups, and multinationals operating in the fintech space, while IT and tech law specialist Niklas Follin’s broad practice covers fintech platforms and bank-fintech partnership agreements. Tobias Björklund is a financial regulations expert with a strong track record in the fintech sector.

Practice head(s):

Joacim Johannesson

Other key lawyers:

Niklas Follin; Tobias Björklund; Patrik Magnesved


‘Setterwall’s team has a strong commitment to pragmatism. They exhibit a keen sensitivity to clients’ situations and consistently demonstrate agility in swiftly crafting pertinent, cost-effective solutions for each challenge encountered.’

‘Joacim Johannesson possesses the ability to promptly assess each situation and, depending on the specific case, assemble a team as needed.’

‘Tobias Björklund showed excellent service skills and responded quickly with high-quality advice.’

‘Patrik Magnesved gives excellent service.’

‘The team is very professional and knowledgeable in the field. They are always well read and prepared for meetings. They are humble and easy to have a good and constructive dialogue with about often clever topics.’

‘A team with excellent industry insight and knowledge.’

‘A great team focused and engaged in the fintech industry.’

‘A professional and business-minded team that always sees the case from the clients perspective.’

Key clients


Agency for Digital Government (DIGG)


Crowdcube Sverige AB

FNZ Group and (European Bank for Financial Services GmbH (eBase) – “FNZ” partners


The Central Bank of Sweden

Work highlights

  • Advising The Central Bank of Sweden in relation to legal issues concerning various money and legal payment infrastructure projects, including the Bank’s project to develop an electronic currency.
  • Assisted MUBADALA Capital with its significant investment into Klarna.
  • Assisted Trustly in correspondence with the Swedish FSA and in relation to its licence application with the Swedish FSA.

Advokatfirman Delphi

Advokatfirman Delphi’s fintech team, often working in conjunction with the firm’s TMT and venture capital teams, advises clients operating in the fintech sector, including start-ups at various stages of growth, on a wide range of matters, including capital raisings and regulatory issues. The team has notable experience advising on the regulatory landscape pertaining to crypto and blockchain technology as well as acting in crypto and blockchain-related disputes. Financial industry expert Agne Lindberg leads the team alongside managing associate John Neway Herrman, who is experienced in the SFSA registration process, among other areas.

Practice head(s):

Agne Lindberg; John Neway Herrman


‘The team at Delphi stands out for its comprehensive understanding of the legal landscape surrounding blockchain and cryptocurrency mining in Sweden. They are able to navigate the complex regulatory and financial aspects of initiating crypto mining within a Swedish corporate framework.’

‘Key strengths of the team include a deep knowledge of Swedish and international business law, a proactive approach to legal strategy, and a robust network of financial and regulatory contacts.’

‘The individuals at Delphi distinguish themselves through a blend of legal acumen, technological savvy, and innovative thinking. Their strategic foresight and their ability to translate complex legal concepts into actionable business strategies are particularly valuable.’

Key clients

Payerbee AB

Srcful AB

Work highlights

  • Advised Payerbee AB on regulatory requirements (e.g. EBA Guidelines on Outsourcing and the GDPR) and provided support in agreement negotiations.
  • Assisted Scrful AB with strategic advice for building a marketplace based on blockchain technology, assessing the need for permits and/or registration with the Swedish FSA and advised on regulatory requirements.

Gernandt & Danielsson Advokatbyrå

Gernandt & Danielsson Advokatbyrå’s multidisciplinary fintech offering is particularly strong in transactional and regulatory matters in the field, with companies, investors, regulators, banks and service providers instructing the group in relation to domestic and cross-border mandates. Niclas Rockborn, who has considerable financial regulatory expertise and acts for banks as well as e-money and payment institutions, leads the team alongside M&A, finance, and capital markets specialist Carl Westerberg. Nils Unckel left the firm for Advokatfirman Vinge in June 2023.

Practice head(s):

Niclas Rockborn; Carl Westerberg


‘Niclas Rockborn is a very pleasant and approachable partner. He is appreciated by clients and is on top of the legal developments in the fintech space.’

‘GDA’s fintech team is a go-to practice in Sweden for fintech matters. They are technical, skilled-lawyers and each of the team members is communicative and a joy to work with.’

Key clients


The Shareholders of Sambla AB

Söderberg & Partners

Forex AB

Trustly Group AB

Cint Group AB

Nordic Capital

Svea Bank AB

Carnegie Investment Bank

Swedbank AB

Youple AB

EasyPark AB

Work highlights

  • Advising Nordnet AB on its issuance of CRR Additional Tier 1 (AT1) and Solvency II Tier 2 capital notes, in a total amount of SEK300m, having perpetual maturity with a first call option after five years.
  • Advising the founders and minority investors of Sambla AB in connection with the sale of shares in Sambla to Nordic Capital Fund X.
  • Provided Söderberg & Partners with regulatory advice in connection with the acquisition of Aktieinvest from Pareto Securities.

Advokatfirman Cederquist KB

Advokatfirman Cederquist KB‘s financial regulations team, which works closely with the firm’s IT and telecoms and IP and media law teams, advises on a variety of matters in the Nordic fintech space, spanning transactional and regulatory issues. Practice head Tobias Frödin Lilja regularly advises financial institutions on licensing requirements, information security issues, governance work and outsourcings. Henrik Lindstrand has substantial expertise in IT and technology law, with notable experience working on payment platform matters.

Practice head(s):

Tobias Frödin Lilja; Henrik Lindstrand

Other key lawyers:

Joel Aneheim


‘Joel Aneheim is a trusted adviser and future star in the regulatory field. His strategic mindset and ability is second to none.’

‘An experienced team that is competent, easy to work with and delivers quickly.’

‘A specialised and dedicated team within the field that truly delivers on each matter. By being precise, clear and supportive, the team is able to deliver stellar results every time.’

Key clients

P27 Nordic Payments Platform AB

Nordic Capital

NOBA Bank Group AB

The Swedish Financial Benchmark Facility

Afa Försäkring

Lumera AB

Treyd Services AB

Ellos AB

Work highlights

  • Advised P27 Nordic Payments Platform AB in relation to putting agreements and other documentation in place governing the participants’ participation in digital payment services.
  • Acting as legal adviser to the SFBF in all legal and regulatory matters.
  • Advised Afa Försäkring on various matters relating to both the procurement and provision of digital services.

Cirio Advokatbyrå AB

Cirio Advokatbyrå AB’s dedicated fintech team benefits from the firm’s strength in digital and transactional matters as well as its knowledge of the financial services sector, advising a variety of clients, including early and growth-stage companies that operate in the fintech space. Managing partner Emma Dansbo leads the practice and advises venture and growth capital funds as well as emerging growth companies. M&A lawyer Anders Moberg is active in both company and investor-side venture capital deals, and David Frydlinger, who is head of the firm’s collaborative innovation group, is also a key contact.

Practice head(s):

Emma Dansbo

Other key lawyers:

Anders Moberg; David Frydlinger

Key clients


SignUp Software




SEB Venture Capital






Work highlights

  • Advised SignUp Software on a SEK2.4bn public takeover offer by Insight Partners.
  • Advised the peer-to-peer lending platform SaveLend Group AB and its subsidiary SBL Finans AB on its acquisition of the peer-to-peer lending business of Lunar Bank A/S.
  • Advising Billogram on a wide range of matters, including in relation to financial regulatory, product development, data privacy, corporate matters and general compliance.

Eversheds Sutherland

Eversheds Sutherland’s fintech team in Stockholm leverages the firm’s international network to advise on a range of domestic and cross-border matters, with particular strength in handling capital markets and regulatory mandates in the space, as well as matters concerning crypto assets. Financial services expert Philip Heilbrunn leads the team alongside Tord Svensson, who specialises in the tech aspects of real estate financings.

Practice head(s):

Philip Heilbrunn; Tord Svensson


‘The team is proactive and shares knowledge in a very helpful way.’

‘The team provides engagement around the clock if necessary and is always reachable. They are highly knowledgeable and help clients to understand the different options available to them. They are business driven, helpful and patient.’

Key clients


Åhléns Marketplace



ZignSec AB


Zenith Venture Capital


American Express Global Business Travel

Odenssnus AB

Swedemount Sports & Fashion AB

Work highlights

  • Advising a non-European credit market company for the establishment of a neo-bank in Sweden for the purpose of providing cross-border banking business in several European jurisdictions.
  • Advising Microsoft in relation to the establishment of three hyper scale data centre facilities in Sweden.
  • Advising SMART VALOR AG both in relation to its SEK19.7m IPO on Nasdaq First North Growth Market, and its private placement of SEK110.6m.


Hammarskiöld’s fintech team regularly advises start-ups operating in the space, with particular strength in handling regulatory matters as well as licence applications made to the Swedish Financial Supervisory Authority. Mattias Anjou leads the practice, in which financial regulatory specialists Emma Lindwall and Johan Löfquist play key roles.

Practice head(s):

Mattias Anjou

Other key lawyers:

Emma Lindwall; Johan Löfquist

Key clients

Hypoteket Bolån Sverige AB

Froda AB

Qred Bank AB

Zimpler AB

Work highlights

  • Advised Qred Bank AB in relation to its successful application to the Swedish Financial Supervisory Authority to become a licensed bank (i.e. a credit institution).

Hannes Snellman (Sweden)

Hannes Snellman (Sweden)‘s IP and tech team, led by Elisabeth Vestin, handles a wide range of matters in the fintech space, with particular strength in advising on cloud procurements and regulatory issues. Anna Ribenfors is regularly instructed by insurance companies and financial institutions in relation to fintech mandates, while Caroline Sundberg offers regulatory expertise, with a client base ranging from start-ups to major banks.

Practice head(s):

Elisabeth Vestin

Other key lawyers:

Anna Ribenfors; Caroline Sundberg


‘The team is excellent and professional. They are very skilled and provide legal advice based on a client’s specific needs.’

‘Caroline Sundberg stands out as a person who is obviously able to leverage her experience from a deep understanding of privacy law, to provide holistic insights into new regulation and become a thought leader in Sweden in this area. She has an ability to quickly bring the clients focus to the right issues (which requires a lot of experience).’

‘Caroline Sundberg is very experienced, skilled and responsive to clients’ needs and conditions. She is also a great communicator and negotiator.’

‘What makes Hannes Snellman’s Swedish team unique is their hands-on approach to complex regulation (Artificial Intelligence Act, NIS2, and DORA etc). This team is well equipped to provide advice that holds true even in a changing regulatory landscape.’

Key clients

CredPoint AB

Intergiro AB


Enklare AB

Fundler AB

Seeburger Group

Work highlights

  • Advised CredPoint on the set-up and launch of its innovative credit information services.
  • Advised Fundler on its outsourcing of its Capital Markets System and related services.

Harvest Advokatbyrå

Harvest Advokatbyrå’s fintech team advises on a wide range of regulatory matters, including compliance issues, internal audits, licence application procedures, AML matters, and sustainability work, advising payment institutions, banks, fund managers, credit providers, and crypto-asset service providers. Co-founder Amin Bell leads the team alongside co-founder Anna Cumzelius; the pair have considerable combined financial regulatory experience. Niklas Sinander, who was formerly head of the financial regulation practice at Cirio Advokatbyrå AB, joined the firm in January 2023.

Practice head(s):

Amin Bell; Anna Cumzelius

Other key lawyers:

Niklas Sinander


‘Harvest offers a good combination of cost and expertise. Their advice is solid, practical and swiftly delivered.’

‘The availability of senior founding partners is outstanding.’

‘There is wide competence within the organisation and the team has a great understanding of both business and legal requirements.’

‘They are easy to collaborate with.’

‘Excellent fintech lawyers, very enjoyable to work with.’

‘Anna Cumzelius is clever and quick, delivers always with no waste of time and without overdelivering. Great value for any large project.’

‘Fantastic knowledgeable people with integrity and willingness to deliver beyond expectations.’

Key clients

Bankgirocentralen BGC AB

Freetrade Europa AB

Global X Digital Assets Issuer Limited

Invoier AB

Kameo ApS

Klarna Bank AB

PFC Technology AB

Sigmastocks Neo AB

Sileon AB (formerly Paynova AB)

TF Bank AB

Xbaht AB

Payer Financial Services AB

Work highlights

  • Providing legal and regulatory advice to Freetrade Europa in relation to the process of starting up the Swedish business.
  • Assisting Kameo ApS and its subsidiaries and branches with a number of different matters, including legal advice regarding complex AML/CTF matters.
  • Assisting Sileon AB with legal and regulatory issues, as well as maintaining the company’s compliance function.


Roschier’s fintech team has notable experience advising major international companies on a range of transactional, regulatory, and contentious matters. With extensive experience in the fintech space, finance and restructuring specialist Niklas Eriksson leads the team, while Björn Johansson Heigis, who is head of the firm’s digital and TMT group, has experience in e-commerce and payment services issues.

Practice head(s):

Niklas Eriksson

Other key lawyers:

Björn Johansson Heigis

Key clients




Work highlights

  • Acting as legal counsel to Swedbank as arranger in connection with an amendment and restatement of a SEK8.2bn facility agreement for Bankomat AB.
  • Advising DBT Capital AB as lead counsel in relation to the amendment and restatement of its EU/UK Securitisation Regulation compliant warehouse facility, which allows lending of up to SEK3.1bn to Swedish SMEs over a 24-month revolving period.
  • Advising Francisco Partners on the acquisition of Macrobond by Nordic Capital.

Synch Advokat AB

Synch Advokat AB’s fintech team is active in the space, handling regulatory matters, including licence applications made to the Swedish Financial Supervisory Authority, as well as various transactional matters spanning seed fundings, share issuances, financings, and M&A work. Financial regulatory specialist Johan Ragnar jointly leads the team with Oskar Arndt, who joined the firm in February 2023 from an in-house role.

Practice head(s):

Oskar Arndt; Johan Ragnar

Other key lawyers:

Jim Runsten


‘Jim Runsten and Oskar Arndt are switched on, demonstrate a good understanding of the payments market, and provide commercial advice.’

‘The team is great for delivering commercially-oriented advice on the regulatory landscape impacting the payment solutions market.’

Key clients

Anotherblock AB

The Box Sweden

The Great Collective AB (Insurely)

Trustscale AB

Work highlights

  • Advised the founders of Anotherblock AB on a seed funding round led by Stride Capital II LP, joined by Axwell of Swedish House Mafia.
  • Assisted The Box Sweden AB with its application to register with the Swedish Financial Supervisory Authority.
  • Assisted Trustscale with an investment made by Priveq.