Matters exits stealth with a $5M pre-seed to build an AI-native consumer bank in Stockholm

Stockholm-based Matters has come out of stealth with $5 million in pre-seed funding. The round was led by Swedish angel investor Jakob Johansson, with Knut Frängsmyr, former COO of Klarna, Voi co-founder Douglas Stark, Röko CEO Johan Bladh, Validio CEO Patrik Tran and Evoke CEO Per Widerstrom participating.

Founded by Per Österström, Matters is building neobank services around an AI Advisor that helps users decide what to spend, save more and work towards financial goals. Customers pay a flat monthly subscription, and revenue that banks normally keep, such as interchange and FX fees, is returned to them as accumulated cashback.

The first consumer product is due in the coming weeks. Lars-Åke Norling, former CEO of Nordnet, joins as Chair.

The money goes to licence applications, EU expansion, hiring and user acquisition, with strategic acquisitions under consideration.