Sweden's Clar acquires Estonian fintech platform Fiizy

Swedish lending company Clar has acquired an Estonian fintech startup Fiizy. This is an exit for Nordic Secondary Fund, which invested in Fiizy in 2021. 

Fiizy is an Estonian startup that offers a digital financial platform to B2B partners and helps individuals access loans and other financial services. Fiizy has operations in Asia, Europe and Latin America with local offices in Estonia, Poland and Brazil. The company was founded in 2015 in Tallinn, Estonia.

Clar is a global digital broker whose business idea is to connect lenders and borrowers and provide them with a range of value-added services. The company currently operates in countries such as Poland, Spain, France, Saudi Arabia and Brazil, expanding through an acquisition strategy of local players. Clar was founded in 2016 in Stockholm, Sweden.

As part of the deal, Rami Ryhänen, CEO of Fiizy, will join Clar's global leadership team. According to Per Granstrand, CEO of the Swedish company, the merger is in line with Clar's strategy to strengthen its leadership as a global digital broker while expanding its presence in key markets such as Poland and Spain. It also accelerates Clar's global expansion into North America, capitalizing on Fiizy's strong position in Mexico.