The Intelligence Company raises SEK 25 million for its AI-powered credit score provider

This news was covered on December 9, 2024 in the daily PRO newsletter.

The Intelligence Company (TIC), a startup founded this year by Swedish serial entrepreneur and financial transparency/anti-fraud activist Jens Nylander, has raised SEK 25 million (€2.2 million) in the first larger funding round.

The funding was led by CoFounded Kapital, and saw participation from other angel investors including Andreas Ehn and Johannes Schild. The pre-money valuation was SEK 80 million, Breakit reports.

According to TIC's press release, the capital will be mostly used "to carry out extensive purchases from public data sources". The aim is to create "smart services for, among other things, safe business decisions for companies as well as offering open data to the public, researchers and media houses".

TIC brags that the round "was more than 3x oversubscribed", and that "a long line of investors unfortunately did not get the opportunity to invest money in the company this time".

TIC had previously raised SEK 500,000 from 24 angel and private investors.