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Robot consultancy Lysa has grown rapidly since its inception in 2017. Today, the company has 42,000 paying customers, three-quarters of which have active monthly savings. In total, this involves the management of more than SEK 5 billion, in various funds and the so-called ETFs.
“In 2019, our customer base grew by more than 250 percent and our managed capital tripled,” says Patrik Adamson, CEO of Lysa.
We firmly believe in setting a new standard for savings.
Lysa’s business concept is to help savers with automatic fund options that fit their risk profile for now. The company charges a fee of 0.15-0.24 percent to distribute clients’ money into funds with low fees and a clear risk profile.
“We invest in the best low-cost funds in the world from companies like Vanguard, Öhman and others. Of course, there are other fund fees, but the total fees should never exceed 0.4 percent, ”explains CEO Patrik Adamson.
He emphasizes that the system is dynamic and conforms to the changing risk profile of clients.
“It should be easy to save correctly,” says the CEO.
The ambition is that the client can easily make deposits and withdrawals, adjust their risk profile or switch to sustainable alternatives.
“Since November 15, our clients have invested a total of SEK 750 million in our sustainable alternative,” says the CEO.
It is now clear that Lysa is raising an additional SEK 60 million in venture capital. This means that the company has received a total of SEK 120 million since its inception. According to Di Digital, the latest round values the company at approximately SEK 500 million.
The money in the last round comes from Lisa’s existing owners, including financier Christer Gardell, H&M President Karl-Johan Persson, Pricerunner CEO and big owner Nicklas Storåkers, former finance minister Anders Borg, founder from the Carl Wilson trust and the venture capital companies Ernström & Co and the Wattins Inbox Capital family.
According to the CEO, the money will go toward further developing Lisa’s services and securing the company at an uncertain time.
“The corona virus has affected society, human health and practically all companies. The long-term effects are difficult to predict. That is why we decided to strengthen our balance sheet, “says Patrik Adamson.
It listed three founders: Henrik Littecke, CTO, Emilie Andersson, COO, and CEO Patrik Adamson.
Photo: Nadja Endler.
Lysa has many competitors in Sweden. In December, for example, Di Digital was able to report that robot consultant Opti replenished the box with SEK 50 million in a round that valued the company at a quarter of a billion. Much of the money came from established investors Staffan Persson and the Wilkne family. Other competitors are Sigmastocks and Fundler.
… Read more Robot advisors bleed: they need to get billions
Who is the market leader is difficult to say. But Lysa CEO Patrik Adamson still dares to guess.
“As far as I know, we are the only ones with figures on net deposits, assets under management and the number of paying customers. According to the information we have, the savings at Lysa are greater than with all the other challenges put together, ”he says.
Are the other robotic advisers your main competitors?
“No, they are rather the established players. We take many clients from the big banks. “
How was it affected by the stock market race in March?
“We saw some withdrawals, but 95 percent of Lisa’s clients have kept their original plans. Many have responded by increasing their monthly savings. April was the third best month in terms of influx since the beginning. “
How do you see the future?
“We firmly believe in setting a new standard for savings, with smart accounts that adapt without users having to act. We constantly ask questions about the client’s financial situation and change the distribution accordingly. For example, if you lose your job in the crown crisis, then you should say we adjust the risk. “
Lysa has 22 employees. Sales were SEK 5 million in 2019 and a loss of SEK 16 million was noted. Today, Lysa claims to have recurring sales of more than SEK 10 million annually. The CEO doesn’t rule out international expansion, but he has nothing to say about a current schedule.
“We work with the principle that we must achieve profitability with the money we have in the balance sheet. The injection of capital gives us a good margin and also allows new investments, ”says CEO Patrik Adamson.
