Equity financing
 for Folkia from Wonga

March 2015

Folkia: Providing short-term consumer loans in the Nordics

“This new capital provides us with increased opportunities to serve our customers with even better and more tailored credit solutions.”

Folkia’s 2014 annual report

2014 revenue

NOK 117m

Revenue growth


Loans up to

SEK 20,000

Loan applications from mobile

c. 50%


Oslo, Norway

Nordic focused market leader in the niche lending space

Founded in 2006, Folkia is a market-leading regulated provider of short-term unsecured consumer loan with main focus on Norway and Sweden.

As a Norwegian finance and credit company, Folkia has a license from the Norwegian Ministry of Finance and is under the supervision of the Norwegian Financial Supervisory Authority.

Folkia is one of the only players in the consumer lending industry to follow a technology-driven approach combined with superior customer experience.

Strong underlying demand in the consumer loan market

The Nordics is an attractive market compared to other developed European countries: the consumer credit market in the region has a lower credit penetration and lower consumer credit outstanding per capita.

Sweden is the largest Nordic market while Norway is the fastest growing market. In these two geographies, the growth in the consumer credit market is forecast to continue at 4.3% CAGR (from 2014 to 2017).

Supported by a high-profile industry leading investor

Wonga Group, one of Europe’s leading providers of short-term credit solutions to consumers and businesses, has invested nearly NOK 110 million via a combination of equity and convertible debt to fund the growth of consumer loans.

With the investment, Wonga became Folkia’s largest shareholder with a holding of around 10%.

Stella EOC acted as sole advisor to Folkia.