When Fronteer Solutions was launched in 2012, there were no banks that would like this service, but now the reserve bank 1 SR-Bank Finstart Nordic comes in.
Fronteer Solutions now has an investment of NOK 35 million, most of which are David Baums from Sparebank 1 SR-Bank Finstart Nordic, written by Dagens Næringsliv. The money is invested in a question. A robotic service operator says that this can create big differences for the company.
– We change the driver by the machine. Research shows that machines provide better investment than people, and we can restore asset management at lower cost, "says Dagens Neringling, Businessman and CEO at Fronteer Solutions, Atle Kristiansen.
Kristiansen previously attended Point Carbon Mill, which was sold to Thomson Reuters in 2010 at NOK 1.1 billion.
The 30 million Baum investment in Fronteer Solutions, which comes from Sparebank 1 SR-Bank, a 300 million fund dedicated to investment in financial technology companies. So far, the company's profits are low – with losses of 12.8 million and revenue in 2017 million, due to low fees. The actual total assets are now 220 million. Kristiansen believes that there will be better times when the stock market will continue to fall.
Only one Norwegian stock
Now the plan is to launch Fronteer Solutions in Sweden, and it will spend time growing.
"Internationalization is something that makes this interesting. There are not many examples of Norwegian fintech who have done this," said Baum, Finstart Nordic, Dagens Næringsliv.
Other robot robots often load multiple orders at once, and milliseconds can be decisive. To date, Fronteer Solutions has its Harvest Foundation, the only Norwegian company Telenor. It is selected mechanically, after the investment director has chosen the factors and has studied the systems based on the insight.
Kristiansen says that the philosophy is to invest in companies that are "safe and boring", which in good times yields lower profits than average, but can be expected to be restored in a recession.
"We would have looked awful silly just before the financial crisis, and as the smartest boy in the classroom the next day," said Dagens Næringsliv.