November 2026
Largest FinTech Public Companies in Norway
Benchmark revenue and EBITDA valuation multiples for public comps like
Morrow Bank, Instabank, Lokotech Group, K33 and Huddlestock.
 | Morrow Bank ASA is a Norwegian bank offering convenient payment and financing products to consumers. It is a focused Nordic digital niche bank offering personal loans, credit cards, deposit accounts, and online point-of-sales finance products to consumers. | $2 | -- | $516M | $516M | 3.8x | - | ||
| Instabank ASA offers banking services. The company operates as a digital bank offering loans, savings and insurance. | $1 | +54% | $244M | $244M | 3.7x | - | ||
| Lokotech Group AS is a hardware and software company specializing in supercomputer development. The company focuses on environmental improvements (reducing energy waste and CO2 emissions) in the blockchain industry. Its low-energy microchips may potentially also be used in Artificial Intelligence (AI). | $0 | -18% | $39M | $36M | 33.0x | (14.6x) | ||
| K33 AB is a holding company and the new gold standard for digital asset investments. It offers market execution, actionable insights, and superior support to private and institutional partners across EMEA. | $0 | -43% | $27M | $26M | 0.1x | (42.4x) | ||
| Huddlestock Fintech AS is a WealthTech company. It develops Investment as a Service solutions for digitizing work processes for custody banks, asset managers and retail trading venues. The open, compliance optimized and data centric-platform allows its customers to offer a differentiated real-time product that reduces cost and increases efficiency. The group has its presence in Norway, Sweden, Denmark and Germany. Huddlestock serves customers across banks, neobanks, wealth managers, fund companies, and investment platforms. The solutions provided by the group are Investment as a Service; and Investment Service designer. Geographically, it operates in Norway, Sweden, Denmark and Germany, of which it derives maximum revenue from Sweden. | $0 | +17% | $19M | $21M | 3.7x | (2.5x) | ||
| Median | $0 | -1% | $39M | $36M | 3.7x | (14.6x) |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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