It’s no secret that Norway has an unparalled quality of living, again taking the number 1 spot for best place to live in the UN’s Human Development report for a consecutive year. Unsurprisngly, this level of excellence spills over into its business environment, which offers a well-educated work force, strong ecosystem and government support, abundant early-stage capital and digital ‘readiness’ across the board.
It’s not also unusual for Norway’s startups to step up to a challenge and show its fighting spirit, perhaps reminiscent of the region’s Viking past. Despite the pandemic, last year the region’s startups rallied together to innovate solutions to COVID at short notice, as initiated by the City of Oslo and Oslo Business Region. Unique solutions like Wamapp came out as a result, and we’re sure that many more are on their way.
With all this in mind, here are 10 of the most promising young Norwegian startups founded between 2017-2020, who all have fast-growing teams, are working on innovative missions, and are also showing promising signs, such as raising funding in the last year.
Norwegian Block Exchange (NBX) – Founded in 2017, this Oslo-based fintech has built a reliable marketplace for buying, selling and making payments in cryptocurrencies or other digital assets with convenient fiat gateways. Working with a ‘zero-frills’ onboarding process, the startup has won over clients from 190 countries around the world. In 2020, the team landed €5.84 million to expand and develop new products in digital assets and e-banking.
CHOOOSE – Founded in 2017, CHOOSE is on a mission to help everyone manage their climate footprint. From startups to global enterprises, CHOOOSE’s global clients use their simple APIs and software to offer climate compensation at check-out, in-app, or anywhere they meet their customers. With climate-oriented customer experiences in 40+ languages, all currencies and major payment methods, customers anywhere can get involved, when buying in-store or online. With a team nearing 30, the startup recently raised around €3.6 million in seed funding.
Neonomics – Connecting thousands of banks via one API sounds like a challenge? Not for Neonomics, whose ‘Interconnectivity Solution’ enables secure, seamless and instant interbank communication via one API. Their commitment? To facilitate the next generation of payments services across Europe. Meaning “New Economy”, Neonomics has grown to a team of over 65 people of 17 nationalities since its founding in 2017, and recently secured around €1.9 million in funding to take their vision to the next level.
Globus.ai – HRtech startup Globus.ai is harnessing AI staffing solutions. Their product? A cloud-based, next generation digital staffing assistant for healthcare staffing agencies. Founded in 2017, the platform brings together all requests for temporary staff, automatic matching of jobs and talent, and all the communication, all in one place. In 2020, the startup raised almost €1 million in funding, at a time when the healthcare staffing need is at its greatest.
Urban Sharing – Founded in 2018, this SaaS startup is all about shared micro mobility. Designed for micro mobility operators, cities and other partners, the Urban Sharing platform can be integrated into existing mobility infrastructure, public transportation systems, and mobility-as-a-service platforms. It allows users to track and plan vehicle rebalancing, maintenance, and repairs, as well as supports both physical and virtual parking. The startup recently landed around €9 million in funding.
Motimate – Motimate was surely made for the work at home revolution. Founded in 2017, Motimate is on a mission to help keep employees happy and engaged. Making learning fun and easy, Motimate allows employers to onboard, train and upskill workers that are either on the go or distributed across many sites. In 2019, the startup landed around €1.9 million, and continued to grow despite the pandemic – they now have 200 companies representing over 120,000 users across 35 countries on their client list.
imove – imove, founded in 2018, has built a car subscription service, which gives users access to a fleet of attractive electric, environmentally friendly cars for everyday use. In addition, imove also grant the user the flexibility to change to another car such as a SUV when they want to, when they want to. The startup landed €1.6 million in seed funding recently, which will bring it closer to its planet-friendly mission.
Vev – Oslo-based Vev is a collaborative visual editor for creatives to build interactive websites. Having landed around seed €800K in funding so far, the startup is on a mission to create a new industry standard to build anything front-end for the open web. Offering no-code web designs, unique interaction and animation options, and real-time collaboration functionalities, they boast an impressive client list including Netflix and Unicef.
ZTL Payment Solutions – Founded in 2018, ZTL Payment Solutions is a global B2B Payment platform that’s taking on the banks. Its global payment solution is built on smart technology utilizing PSD2, and directly challenges the banks’ transactional banking services and their domain on corporate payments and remittances. In 2020, the fintech startup landed three seed funding rounds to boost its growth, totalling around €5.3 million.
Unloc – This Oslo-based team is on a mission to digitise keys, and create a world where ‘security and convenience can coexist on a whole new level’. Founded in 2017, the team has created an app that acts as a key that fits all locks, ready to be used by businesses and individuals alike. Having landed almost €1 million in funding, the team is riding the wave of digitization and no-contact seen in past months, and surely has more growth to come.
By the way: If you’re a corporate or investor looking for exciting startups in a specific market for a potential investment or acquisition, check out our Startup Sourcing Service!