Wikipedia

Draft:Safello Group AB


Safello Group AB
TypePublikt aktiebolag (publ)
Nasdaq: SFL (Nasdaq First North Growth Market)
ISINSE0015346135
IndustryCryptocurrency
Financial technology
Founded2013; 13 years ago (2013) in Stockholm, Sweden
FoundersFrank Schuil
Emil Oldenburg
Ludvig Öberg
HeadquartersStockholm, Sweden
Key people
Frank Schuil (Chairman)
Emelie Moritz (CEO)
ProductsCrypto exchange
Bitcoin.se
Exchange-traded products
ServicesCryptocurrency exchange
Cryptocurrency custody
Websitesafello.com

Safello Group AB is a Swedish cryptocurrency brokerage and financial technology company headquartered in Stockholm. Founded in 2013, the company operates a cryptocurrency exchange and has been listed on the Nasdaq First North Growth Market since May 2021 under the ticker SFL.[1][2]

History

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Founding and early years

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Safello was founded in 2013 in Stockholm by Frank Schuil, Emil Oldenburg, and Ludvig Öberg as a platform for buying and selling Bitcoin using Swedish kronor (SEK).[3] Oldenburg departed the company in 2014.

In February 2014, Safello raised $600,000 in a seed funding round. Investors included Erik Voorhees and Roger Ver, both prominent early Bitcoin investors, as well as Blockchain.info CEO Nicolas Cary.[3][4] In July 2014, the company received an additional $250,000 investment from Bitcoin Opportunity Corp, the investment vehicle of Barry Silbert (later founder of Digital Currency Group).[5]

In 2015, Safello was selected for the Barclays Accelerator programme, operated in partnership with Techstars.[6][7] During the programme, Safello and Barclays developed a proof-of-concept partnership exploring Bitcoin-based charitable donations in collaboration with Venture for America.[6][8] The same year, the company expanded its payment integration to Denmark and Norway.[9]

Growth and funding

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In October 2017, Safello completed a Series A funding round with participation from Northzone and White Star Capital. The same month, Safello acquired Cryex, a blockchain-based post-trading platform, in a deal valued at approximately SEK 20 million. Cryex had previously raised $18 million from investors including Northzone and White Star Capital.[10][11]

The company obtained registration with Finansinspektionen as a financial institution, operating as a regulated cryptocurrency service provider in the Nordic region.[12]

IPO and public listing

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In December 2020, Safello announced its intention to pursue an initial public offering.[13] Trading commenced on May 12, 2021, on the Nasdaq First North Growth Market under the ticker SFL.[1][2]

Acquisitions

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In March 2021, Safello acquired Rational Money AB, the operator of Bitcoin.se, a Swedish-language cryptocurrency information portal that had been operating since 2012.[14] The site was founded by David Hedqvist, who had previously been involved in a Swedish court case that established the VAT framework for cryptocurrency transactions in the European Union.[14]

Banking relationship change

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In April 2023, Handelsbanken terminated Safello's access to Swish payment services, and in June 2023 announced it would terminate the entire business relationship, effective September 30, 2023.[15][16] The termination occurred during a period in which several Swedish banks were discontinuing services to cryptocurrency companies. Safello completed its migration to a new banking partner in February 2024.[17]

MiCA authorization

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In October 2025, Finansinspektionen granted Safello authorization as a crypto-asset service provider (CASP) under the European Union's Markets in Crypto-Assets Regulation (MiCA).[18] In November 2025, Safello announced its expansion into Finland, its first market outside Sweden, enabled by MiCA's passporting provisions.[19]

Products and services

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Safello operates a cryptocurrency brokerage platform available as a web and mobile application, allowing customers to buy, sell, and store cryptocurrencies. In February 2021, the company integrated with Klarna's Open Banking platform for direct bank transfers.[20][21] The company also operates Bitcoin.se, a Swedish-language educational portal covering cryptocurrency topics, acquired in 2021.[14]

In partnership with Deutsche Digital Assets, Safello launched a physically backed and staked exchange-traded product tracking the Bittensor (TAO) token, listed on the SIX Swiss Exchange in November 2025.[22]

Regulation and compliance

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Safello AB, the company's primary operating subsidiary, has been registered with Finansinspektionen as a financial institution since 2013.[12] In October 2021, Finansinspektionen announced supervisory reviews of Safello and one other Swedish cryptocurrency firm to assess compliance with anti-money laundering (AML) regulations, as part of the regulator's broader examination of the domestic cryptocurrency sector.[23][24]

In 2025, the company transitioned from its earlier registration to full authorization under MiCA as a crypto-asset service provider (CASP), receiving approval from Finansinspektionen on October 13, 2025.[18]

In September 2023, Safello entered into framework agreements with the Swedish Police Authority, Swedish Customs, and the Swedish Economic Crime Authority to provide cryptocurrency exchange services for law enforcement purposes.[25]

Corporate governance

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Frank Schuil, the company's co-founder, served as CEO from its founding in 2013 until March 2023, when he transitioned to chairman of the board. Emelie Moritz was appointed CEO in March 2023.[2]

References

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  1. 1 2 "Listing of Safello Group AB (publ), on Nasdaq First North Growth Market". Nasdaq Stockholm. May 2021. Retrieved 2026-02-19.
  2. 1 2 3 "Raketfart för Safello i debuten – rusar över 100 procent". Breakit. May 12, 2021. Retrieved 2026-02-20.
  3. 1 2 "Aiming To Be The Coinbase of Europe, Sweden's Safello Raises Investment Cash". TechCrunch. February 17, 2014. Retrieved 2026-02-19.
  4. ↑ "Safello, a Swedish Bitcoin transactor, rakes in $600,000, all hype aside". VentureBeat. February 17, 2014. Retrieved 2026-02-19.
  5. ↑ "Bitcoin Opportunity Corp Invests $250k in Swedish Exchange Safello". CoinDesk. July 10, 2014. Retrieved 2026-02-19.
  6. 1 2 "Gamechangers: Safello". Barclays. January 2017. Retrieved 2026-02-19.
  7. ↑ "Three Blockchain Startups Selected for Barclays Accelerator". CoinDesk. March 23, 2015. Retrieved 2026-02-19.
  8. ↑ "Safello and Barclays Partner on PoC Bitcoin Payments for Donations". Finance Magnates. 2015. Retrieved 2026-02-19.
  9. ↑ "Safello expands local payments into Denmark and Norway". Arctic Startup. 2015. Retrieved 2026-02-19.
  10. ↑ "Swedish bitcoin exchange Safello acquires blockchain firm Cryex in share deal". Tech.eu. October 26, 2017. Retrieved 2026-02-23.
  11. ↑ "Safello takes over Cryex in a SEK 20M deal". Nordic9. October 2017. Retrieved 2026-02-23.
  12. 1 2 "Finansinspektionen company registry". Finansinspektionen. Retrieved 2026-02-19.
  13. ↑ "Svenska bitcoin-mäklaren Safello siktar mot börsen". Breakit. December 2020. Retrieved 2026-02-23.
  14. 1 2 3 "Safello förvärvar bolaget bakom Bitcoin.se: "Förtjänade att tas till nästa nivå"". Breakit. March 29, 2021. Retrieved 2026-02-20.
  15. ↑ "Smällen för Safello – storbanken klipper banden till Swish". Breakit. April 2023. Retrieved 2026-02-20.
  16. ↑ "Safello Says Handelsbanken to Terminate Business Relationship". Bloomberg Law. June 2023. Retrieved 2026-02-19.
  17. ↑ "Safello completes migration from Handelsbanken". Cision News. February 1, 2024. Retrieved 2026-02-20.
  18. 1 2 "Safello obtains MiCA authorization and aims for international growth". The Cryptonomist. November 14, 2025. Retrieved 2026-02-19.
  19. ↑ "Listed Crypto Exchange Safello Expands Into Finland". Crowdfund Insider. November 2025. Retrieved 2026-02-19.
  20. ↑ "Klarna enters crypto biz with Safello tie up". Finextra. February 18, 2021. Retrieved 2026-02-19.
  21. ↑ "Safello Partnership Enables Direct Crypto Purchases From Users' Bank Accounts". CoinDesk. February 18, 2021. Retrieved 2026-02-19.
  22. ↑ "Deutsche Digital Assets and Safello to List Staked Bittensor ETP on SIX Swiss Exchange". CoinDesk. October 29, 2025. Retrieved 2026-02-19.
  23. ↑ "Swedish Financial Watchdog Investigating Two Local Crypto Exchanges". CoinDesk. October 21, 2021. Retrieved 2026-02-19.
  24. ↑ "FI granskar företag som handlar med kryptotillgångar". Finansinspektionen. October 2021. Retrieved 2026-02-19.
  25. ↑ "Safello skriver ramavtal med polisen om att växla kryptovalutor". Breakit. September 12, 2023. Retrieved 2026-02-20.

Category:Financial services companies of Sweden Category:Financial technology companies Category:Cryptocurrency exchanges Category:Companies listed on Nasdaq Stockholm Category:Companies based in Stockholm Category:Swedish companies established in 2013 Category:2013 establishments in Sweden

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