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SAM 6003

Horde – a new lending platform benefiting community banks

Horde joins NCE Finance Innovation’s incubator and are ready to give back to the consumers by offering better terms and user experience through their lending platform.

Photo: Marthe Sivertsen

The new startup has just moved in and we wanted to hear a bit more about the concept and the people behind it all.

What’s the story behind Horde?
New technology and new regulations are challenging the way we think of banking. Some of the big banks will try to meet these challenges head on, others will need to choose their battles and establish strategic partnerships to take part in a changing environment. By cooperating with community banks, we are developing a national platform for consumer lending where community banks can join forces and compete on a national level, says Alf Gunnar Andersen, CEO and founder of Horde.

- Challenging the interest rates of traditional business banks, we want to create a market where rates and risk are more aligned. We also believe we can create a better user experience by being a dedicated platform that gives an easy and intuitive overview, he continues.

Focusing on our core values of responsibility and fairness, we are developing unique features to better help the consumer manage their obligations and reach their goals.

Alf Gunnar Andersen, Horde

Who are the masterminds behind it all?
This all started with three buddies hanging out in Bergen dreaming about doing something of their own.

Founder of Horde, Alf Gunnar Andersen has been enthralled by the changing landscape in financial services. Incumbents are being challenged and the way we think about money is changing. During his spare time, he dived into studying fintech and new business models. Several good concepts and ideas are emerging, but also many cultural and integrational challenges. Not seeing the need for reinventing the entire wheel, Alf Gunnar wanted to find a way to combine the best of the new, with the best of the old.

He pitched his idea to his buddies who were “sold” immediately and joined in the process of conceptualizing Horde.

The trio, Alf G. Andersen, Øystein Bakke and Torstein Mellingen have extensive experience from banking, finance and insurance. They felt comfortable in this domain, know the regulations and understand customer needs.

Their mission was now clear:  Give consumers the best possible deals and a better user experience.

 From left: Alf Gunnar Andersen, Torstein Mellingen, Øystein Bakke and Morten Strid
From left: Alf Gunnar Andersen, Torstein Mellingen, Øystein Bakke and Morten Strid

A great user experience being a key element, the focus was to recruit the "best in the biz" on design, UX and marketing concepts. Therefore, Horde got in touch with Morten Strid and Kenneth G. Rasmussen, who are well known for their skills in this field and have worked with some of the biggest brand names, domestic and abroad. They loved the concept and were the first, besides the founders to join the team.

The team was in need for some serious talented developers and we were lucky enough to have Tan Le (full stack developer) and Per Oscar Andersen (front end developer) join the team. To ground the team and guide them, the team approached mentor and investor Gunnar Andersen who was happy to help. 

- Combining these minds, we believe we’ve got ourselves a pretty strong team, says Alf Gunnar.

Where to after Norway? Any plans?
- Don't bite off more than you can chew, but don't nibble either. Market penetration is key to establish a thriving business with recurring revenue. Our first focus is the Norwegian market, but over time we will look to other Scandinavian markets with a similar cultures, says co-founder Torstein Mellingen.

So, why join NCE Finance Innovation and the incubator?
- We find it awesome to be working in an inspiring environment with other people who aren't afraid to think outside the box. Combine that with mentors, legal advice and a huge network and you got yourself a killer combo, says Alf Gunnar.

- We see it as a seal of approval to be a part of NCE Finance Innovation and the ecosystem in its’ entirety, Alf Gunnar concludes.

Stay tuned for more exciting news and developments from Horde.