Trifork joins Fintech company as co-owner together with Arbejdernes Landsbank, Nykredit and Spar Nord
Trifork has agreed with the existing owners of the Fintech company YoungMoney ApS to invest in the company and receive an ownership of 25% in the company.
Young Money ApS is currently delivering the Young Money App universe to children in Denmark. Currently this App solution has approximately 40,000 users and just about 20,000 transactions are completed each month. The company plans to deliver innovative digital products and services to banks, both in Denmark and internationally. The products will be targeted to both private and business customers.
“Joining Young Money as an owner is an example of Trifork’s philosophy about developing new products and solutions in very close relationship with our customers. Fintech is currently growing very fast and we want to continue developing new innovative digital solutions in the sector”, states Jesper Mygind, Business Unit Leader in Trifork. “We see this partnership as a unique opportunity where the owners combine their knowledge and expertise in finance and technology to optimize digital solutions for both private and business customers”.
Torsten Terp, CEO of Young Money ApS states: ”Trifork is the perfect match for us with their skills in combining high usability with high security in digital solutions. With Trifork as a co-owner, we get a strong strategic partner who can challenge existing thinking and bring new ideas and innovation to the Fintech sector. Right now, we are focusing on developing new solutions within business banking. With Trifork we can design and develop new strong digital solutions that can be integrated with the business banking solutions from BEC and make it easier for companies to run their business”.
Peter Rørsgaard, CMO and press, +45 2042 2494
Young Money Aps
Torsten Terp, CEO, +45 3028 8833