Banks, EU – Baltic States, Financial Services, Investments, Lithuania, Mergers and take-overs, Technology

Opera and Fjord Bank entered into an investment and share purchase agreement on May 29, 2020. Opera then acquired a 9.9 percent interest in Fjord Bank via a share subscription, which was completed early in July. Completion of the acquisition of the remaining 90.1 percent of Fjord Bank is pending regulatory approval. 

“Looking at the fintech space in Europe, we believe it needs more and bigger challengers who should provide people with smarter and empowering solutions for their personal finances,” Krystian Kolondra, Opera executive vice president, said in a press release.

In January, Opera ventured into the fintech space in Europe with the acquisition of the Estonian fintech company PocoSys.

Founded in Lithuania in the spring of 2017, Fjord Bank has more than 40 shareholders, mostly private investors from Norway.

Established in Norway in 1995, Opera is a leading global internet brand with an engaged and growing base of over 360 million monthly active users. 

Building on 25 years of innovation, starting with browser products Opera is increasingly leveraging its brand as well as its massive and highly active user base in order to expand its offerings and business. 

Today, Opera offers users across Europe, Africa and Asia a wide range of products and services that include its PC and mobile browsers as well as its AI-powered news reader, Opera News and its app-based microfinance solutions.