Matters has exited stealth mode, securing $5 million in a pre-seed funding round. The investment was led by angel investor Jakob Johansson, with participation from industry figures including former Klarna COO Knut Frängsmyr and Voi co-founder Douglas Stark. The capital will support the company's efforts to obtain banking licenses, expand operations across the EU, and grow its team.
Founded by Per Österström, the startup is developing an AI-native consumer banking platform. The service aims to integrate automated financial management with personalized AI-driven advice. The company plans to launch its inaugural product in the coming weeks, focusing on helping users track spending and improve savings habits through automated tools.
The business model centers on a flat monthly subscription fee. Unlike traditional banks, Matters intends to return revenue streams such as interchange and foreign exchange fees to users via a cashback system. This approach is designed to align the company's interests with those of its clients, prioritizing long-term user retention and financial wellbeing.
Lars-Åke Norling, former CEO of the investment platform Nordnet, has been appointed as Chair of the company. His background in regulated finance is expected to support the firm's transition into the banking sector. The startup is also exploring potential strategic acquisitions to accelerate its development and market presence.
