Bricknode has successfully secured a SEK 5 million loan from a leading financial institution to establish a new brokerage service. Bricknode is a SaaS company in the financial services industry, and the funding will allow them to provide an even better experience for their clients.
They’re excited to get started on this new venture.
On Monday, the company announced that it had a one-year term with a monthly interest rate of 1.5%. They will use the funds to meet several requirements for the brokerage firm, such as regulatory and operational capital.
Bricknode is a well-known cloud-based financial brokerage provider. Last May, it announced its intention to apply for a securities broker’s license using a wholly owned subsidiary.
The company seeking the brokerage license did not reveal which regulator it is but noted that it would be from within the European Union.
With the social repercussions of Covid-induced lockdowns, demand for investment and trading has skyrocketed. According to the European Fund and Asset Management Association, Europe’s total assets under management reached EUR 28.4 trillion in 2020, with forecasts of increasing to EUR 31.3 trillion by 2021 based on present data from three quarters of the year.
The Q1 of 2023 will see the platform’s release that would let the company provide brokerage services to customers who lack regulatory permissions. In addition, Bricknode would be able to offer an all-inclusive solution to companies starting investment services.
Its offerings include Bricknode Broker, its essential software for brokerages and technology platforms.
The Founder and CEO of Bricknode, Stefan Willebrand, said that by applying for a brokerage license, they’d be moving a step closer to offering their own regulatory umbrella to their clients. The brokerage license will make it even easier for the company to launch investment solutions.