Haavind has assisted in establishing and capitalizing a new Norwegian bank
Haavind has assisted in establishing Instabank, an on-line bank with a focus on unsecured consumer loans.
Haavind has assisted in establishing Instabank, an on-line bank with a focus on unsecured consumer loans.
Haavind has been involved in all aspects of the process, from first discussions and negotiations between founders and initial investors, completion of a NOK 240 million capital increase, to receipt of banking license and start of banking operations in September 2016. ABG Sundal Collier and SR Bank Markets were Joint Global Manager for the equity increase, which was substantially over-subscribed.
The key to offering effective and good assistance is to put together a small and dedicated team with the right competence and experience, and we fortunately have lawyers with extensive experience with both bank regulatory issues, entrepreneurial activities and equity issues, says Andreas Vik, who was the project leader at Haavind.
The team from Haavind consisted of Andreas Vik (project leader), Cornelius Sogn Nes (equity), Peter L. Brechan (license application, operational and regulatory issues), Christian Bye (company law), Halvor Klingenberg (license application) and Erik Andersen (license application).
