Matters Raises $5 Million to Build AI Consumer Bank

Oct 16, 2026
Stockholm startup Matters raised $5 million to develop a consumer banking service that combines everyday accounts with an AI financial adviser.

Matters raised $5 million in pre seed funding as it emerged from stealth, according to The Next Web. Swedish angel investor Jakob Johansson led the round, with participation from former Klarna COO Knut Frängsmyr, Voi cofounder Douglas Stark and other angel investors.

The Stockholm startup plans to offer everyday banking services and an AI adviser that helps customers manage spending and increase savings. Customers will pay a flat monthly subscription, while card interchange and foreign exchange revenue will be returned through cashback.

Founder and CEO Per Österström started Matters in April. The company will use the funding to apply for licences, expand across the EU and grow its team of 14. Its first consumer product will launch in the coming weeks, while former Nordnet CEO Lars-Åke Norling has joined as chair.

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