Danske Bank has become the third institutional investor to invest in United Fintech, following Citi and BNP Paribas.
United Fintech, established in 2020 by CEO Christian Frahm, is focused on acquiring a diverse range of capital markets, wealth management, and wholesale banking vendors. The company has successfully acquired five fintech firms, employing over 160 people across eight countries. The companies under the United Fintech umbrella include Cobalt, FairXchange, TTMZero, Athena Systems, and NetDania.
With this new investment, Danske Bank has secured a rotating board seat and will play a role in shaping the platform’s strategic direction. Claus Harder, head of transaction banking & LC&I business development at Danske Bank, remarked, “Danske Bank sees great opportunities for collaboration within the existing ecosystem of fintech companies. This partnership enables us to expand our exposure to innovative solutions, ultimately enhancing our customer value proposition.”
He emphasized that this investment supports the Nordic bank’s Forward ’28 strategy, which focuses on areas such as corporate banking, capital markets, wealth management, and API integrations. Harder further explained, “The investment in United Fintech will create opportunities to engage with subscale fintechs, supporting their growth while simultaneously fueling our own digital transformation and growth strategy.”
This move comes shortly after BNP Paribas and Citi also invested in United Fintech. CEO Frahm anticipates attracting more leading institutions to join this collaborative effort. Commenting on Danske Bank’s involvement, he stated, “This commitment is key to addressing the industry’s most pressing challenges through collaboration rather than isolated efforts. By leveraging the strengths of Danske Bank and our other banking partners, we are paving the way for a new era in banking, moving beyond traditional silos into the digital age.”