Axel Johnson Launches Fintech Startup Humla Using SEB’s Banking-as-a-Service Platform

SEB forms a strategic partnership with Humla, a fintech startup within Axel Johnson is on a mission to drive innovation in the retail industry. Humla will develop its products and offerings on the banking-as-a-service (BaaS) platform developed by SEBx, becoming its first BaaS customer.

The partnership follows a period of joint exploration and collaboration between Humla and SEBx, SEB’s innovation studio. Humla’s mission is to empower the retail business of tomorrow by creating a new generation of financial services and loyalty products. Using SEBx’s banking-as-a-service platform, Humla will be able to integrate financial services into its customer offerings.

“With our cloud-based banking platform as a service, we can help our partners create new products or integrate financial services into their customer journeys without becoming banks themselves. SEBx relies on the license bank of SEB, which allows us to be a complete supplier of financial services”, declares Christoffer Malmer, SEBx Manager. “We want to collaborate and co-create with innovative partners and look forward to continuing to work with the team at Humla – our first bank-as-a-service customer.”

The integrated finance market is growing rapidly and has great potential. With a tradition of supporting entrepreneurship, SEB seeks to establish itself as a leading provider of banking as a service to support innovation and serve customers in new ways. The integration of financial services under non-bank brands offers many opportunities for the development and marketing of new products, both for customers and suppliers.

As a startup within the Axel Johnson Group, Humla will create products and services in collaboration with some of the world’s most established retail brands. Sweden. With 1.5 million customer interactions every day across the group, Humla is looking to bring its new financial services platform to retail businesses that want to build stronger relationships with their customers.

“Retail businesses within Axel Johnson have in-depth knowledge of their customers, which, combined with modern technology, will be used to create innovative financial services enabling more personalized experiences and data-driven offerings,” says Emile Berg Eckerrot, CEO of Humla. “SEBx provides us with a complete banking platform based on modern technology, which allows us to focus on customer experience rather than banking regulations. We are optimistic about the change we can bring to the industry and we look forward to bringing Humla to more partners and customers.”

The plan is to market the first product during the year and to continue exploring opportunities within the Axel Johnson group. Axel Johnson has a long history and experience in the retail industry, something that Humla can leverage when creating new products and services.

“TO Axel Johnson, we believe retail will change more over the next decade than it has over the past century. The opportunity to thoughtfully include financial services in the customer experience will play an important role in the future of retail, and we are excited about what we can achieve with this partnership,” said Sara OhrvallChairman of the Board of Humla and Chief Operating Officer of Axel Johnson.

To learn more about SEBx and banking-as-a-service, visit

For more information, contact:Frank Hojemcorporate communications manager
+46 70 763 9947
[email protected]

Niklas MagnussonGroup Press Officer
+46 70 763 8243
[email protected]

SEB is a leading financial services group in Northern Europe, convinced that entrepreneurial spirits and innovative companies are essential to create a better world. We take a long-term perspective and support our clients through good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the UK, the bank’s activities are strongly focused on corporate and investment banking, based on a comprehensive service offering to companies and institutional clients. The international nature of SEB’s business is reflected in our presence in more than 20 countries around the world, with approximately 15,500 employees. To December 31, 2021the total assets of the Group amounted to 3,304 billion Swedish crowns while its assets under management totaled 2,682 billion Swedish crowns. Find out more about SEB at,c3552683

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