Investment

Norwegian fintech gets further backing from family offices

Exabel, an AI, analytics investment platform, has received further funding from a family office, as it develops one of the most sophisticated AI investment platforms in Europe.

The Oslo-based fintech just received an investment of $6 million and a debt facility worth $3 million from AWC (formerly Awilhelmsen Capital Holdings), a family office owned by the Wilhelmsen family, a Norwegian shipping dynasty and the  biggest shareholders of The Royal Caribbean Cruise Line. 

Exabel was set up in 2016 by some senior tech entrepreneurs including its CEO Øyvind Grotmol, who worked at the prominent SoftBank-backed Californian AI and robotics group Brain Corporation, and Per Christian Moan, who has a maths doctorate from Cambridge and is a specialist in modelling financial markets.

In past funding rounds, Exabel has been backed by a host of Norwegian family offices and principal investment groups, including Andenaes Group, the investment group of the Andenaes family, Holta Invest, the investment group of the Kjetil Holta and his family, and Vatne Capital, the family office of Runar Vatne. 

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