Money Buzz! Europa

Category: Copenhagen

  • Denmark to build an artificial island to house wind turbines

    Denmark to build an artificial island to house wind turbines

    The Danish government has secured broad political support for the largest construction project ever launched in Denmark, an artificial island that will house wind turbines, Bloomberg reports.

    In the first phase, the island will make enough electricity to supply three million households.

    The 210 billion kroner ($ 34 billion) artificial island with an area of ​​120,000 square meters will be built at about 80 kilometers from the west coast of Denmark.

    The project is projected to be completed by 2033 and will initially be able to supply 3 gigawatts of electricity. However, the plans aim to increase production capacity to 10 gigawatts.

    In 2018, about 41% of Denmark’s electricity needs were covered by wind turbines made energy, the highest percentage in Europe.

  • Danes can get 20-year mortgages with zero interest rate

    Danes can get 20-year mortgages with zero interest rate

    A bank in Denmark is offering 20-year mortgages with zero fixed interest rates, Bloomberg reports.

    Nordea Bank’s Danish customers can get such loans, which have a lower coupon than the 10-year government bond issued by the US Treasury.

    In the current global context, Denmark differs in that it has maintained a negative monetary policy interest rate more than any other country.

    In 2012, the Central Bank of Denmark decided to cut the reference interest rate to below zero and since then Danish customers have enjoyed a steady decline in borrowing costs.

    Even more, Danske Bank A/S, the largest bank in Denmark, is considering the possibility of issuing 20-year interest-free bonds.

  • Danish households’ financial net wealth increased in Q3 2020

    Danish households’ financial net wealth increased in Q3 2020

    The Danish households’ financial net wealth increased by kr. 362 billion in the third quarter and reached kr. 5657 billion in total, Danmarks Nationalbank reports.

    The rapid recovery of wealth continued and now more than offset the historically large decline at the beginning of the year with a net increase of kr. 168 billion.

    The average financial net wealth of a Danish household at kr. 2.07 million

    However, the typical household has less wealth than this average, while a smaller proportion possesses larger wealth.

    For example, the size of Danes’ pension savings varies greatly depending on age and income level etc.

    Thus, the 10 per cent of Danes with the largest pension savings own 43 per cent of the total pension wealth.

    By comparison, the 50 per cent of Danes with the smallest savings own just 8 per cent of the total pension wealth.

  • Dreamdata secures $4.4 million in seed funding

    Dreamdata secures $4.4 million in seed funding

    The round was led by InReach Ventures and Crowberry Capital, and counted with participation from existing tech investors Seedcamp, Futuristic.vc and Preseed Ventures.

    ”Investing in Dreamdata was an easy choice to make. The B2B Revenue Attribution Platform category is in its infancy, and we believe that Dreamdata has the potential to be the global category leader.”

    Roberto Bonanzinga, co-founder of InReach Ventures

    Dreamdata brings to market a solution designed specifically for B2B. A product that replaces disjointed semi-solutions and helps understand the full value of actions.

    The solution pull together all relevant data by introducing a smart on-site behavioural tracking script and integrating all relevant commercial data from CRM, Automations, and Customer Success tools.

    Dreamdata integrates about every commercial tool and traffic source, so customers’ teams aren’t forced to use only certain vendors or suites.

  • The largest vertical farm in Europe will be built in Copenhagen

    The largest vertical farm in Europe will be built in Copenhagen

    Several developers have decided to transform an industrial building on the outskirts of Copenhagen into the largest vertical farm in Europe.

    Here, lettuce, herbs and kale will grow on 14-storey scaffolding, from floor to ceiling, Reuters reports.

    The vertical farm in Copenhagen, installed in a former industrial hall with an area of ​​7,000 square meters, will first focus on the cultivation of herbs, kale and lettuce, but the developers claim that in two years they will be able to grow fruits in five to ten years and rooted.

    Developed by Nordic Harvest and YesHealth Group (Taiwan), the vertical farm aims to reach an annual production of 1,000 tons by 2021 and be profitable.

    This type of farm is designed to use less space than traditional vegetable growing and will use an LED lighting system that will mimic sunlight.

    According to World Bank, in 2016 about 37% of the globe’s land area was used for agriculture.

  • Denmark aims to get at least 775,000 electric and hybrid cars on the roads by 2030

    Denmark aims to get at least 775,000 electric and hybrid cars on the roads by 2030

    Denmark aims to get at least 775,000 electric and hybrid cars on the country’s roads by 2030, Reuters reports.

    There are currently only about 20,000 electric cars in Denmark, a fraction of the 2.7 million cars currently on the country’s roads.

    Copenhagen has set an ambitious target of decreasing greenhouse gas emissions by 70% by 2030.

    The plan, for which the government will set aside 2.5 billion Danish kroner ($ 407.62 million), will be revised in 2025, when new measures will be taken to reach one million zero-emission cars in Denmark until 2030.

  • Jysk earnings increased by 15% in the financial year 2019/2020

    Jysk earnings increased by 15% in the financial year 2019/2020

    Despite pandemic, Jysk ended up with an increase in earnings of 15 percent in the financial year 2019/2020.

    Jysk recorded a record turnover of 4.1 billion EUR and record earnings of 489 million EUR before taxes.

    Company turnover increased by 7,5% and pretax profit increased by 14,8% in 2019/2020 compared to 2018/2019.

    As a result, the retailer expects to open more than 150 stores during the current financial year.

    Jysk has 2,949 stores and employs around 26,500 persons in 51 countries, most of them in Germany (966 stores).

    Most openings, in Romania

    In the financial year 2019/2020, Jysk recorded 14 new store opening in Romania, +13 in Ukraine, +7 in Greece, +6 in Bulgaria and +5 in Poland and Belgium.

    Jysk franchises recorded 14 new openings, most of them in Thailand (+3).

  • Layerise closes the largest ever pre-seed investment in Denmark

    Layerise closes the largest ever pre-seed investment in Denmark

    Layerise has closed the largest ever pre-seed investment in Denmark from e.ventures, Heartcore and Falcon founder Ulrik Bo Larsen.

    A €1.05m pre-seed round led by e.ventures will be be used to commercialise the company’s product innovation and grow the development and commercial teams.

    Founded in March 2019 by Ervin Draganovic (Weorder, Tattoodo & Tidal) and Emil Forsmann (Weorder & Tattoodo), the Layerise team has a track record of building some of the most used digital products and services.

    Layerise’s mission is to impact customer product satisfaction by acting as a digital assistant between the customer and the brand.

  • True Gum is available in all DM Drogerie Markt stores in Austria

    True Gum is available in all DM Drogerie Markt stores in Austria

    Plastic free True Gum products are available, since last week, in all DM Drogerie Markt stores in Austria and Kaufland stores in Germany.

    In Germany, True Gum is already present from September 2019 and is available in DM Drogerie Markt Germany, Dirk Rossmann, EDEKA, Budni, Globus and Famila Nordost stores.

    True Gum is made in Copenhagen and is free from plastic, sugar, aspartame and anything artificial. Also, it’s vegan and 100% biodegradable.

    There are eight gum flavours: Mint & Matcha, Raspberry & Vanilla, Ginger & Turmeric and Liquorice & Eucalyptus.

  • Jysk, record turnover of 4.1 billion EUR for financial year 2019/20

    Jysk, record turnover of 4.1 billion EUR for financial year 2019/20

    Jysk posted a record turnover of 4.1 billion EUR for financial year 2019/20, which is 7.6 percent higher than in financial year 2018/19.

    The number of customers is close to the same level as the year before despite the fact that a majority of Jysk’s stores were closed in March and April due to coronavirus.

    The increased turnover is a result of many Europeans choosing to invest in their homes, as borders closed and many people prepared for a summer at home.

    Similarly to other companies, Jysk has also seen a significant increase in online sales. Especially in countries where most retail stores were closed for a longer period.

    The result of financial year 2019/20 is expected to be ready within the next couple of months.

    Jysk opened 106 new stores in 2019/20 and plans to speed up and open more than 150 new stores during the current financial year.

  • Keepit raises $30 million in the single largest Series-A SaaS investment in the Nordics

    Keepit raises $30 million in the single largest Series-A SaaS investment in the Nordics

    The Danish Backup-as-a-Service provider Keepit lands $30 million from growth investor One Peak, with the goal of increasing momentum both in Europe and the US.

    The round is the single largest SaaS investment in a bootstrapped company in the Nordics, according to Crunchbase.

    Keepit is a Backup-as-a-Service provider, specializing in protecting data from SaaS solutions such as Microsoft 365, Salesforce, Dynamics 365, and G Suite.

    This is a massive greenfield market worth $12 billion per year which is expected to continue growing at a 30% CAGR over the next five years.

    With the investment from One Peak, Keepit expects to double the numbers of employees in its offices in Copenhagen, Denmark and Lviv, Ukraine, as well as their satellite offices around the world, including the US.

  • QuadSAT closed the largest drone tech investment in Denmark

    QuadSAT closed the largest drone tech investment in Denmark

    QuadSAT, a company that is revolutionising test and measurement of satellite antennas, closed a €2 million Pre-Series A Investment, the largest venture investment in a Danish drone tech company in history.

    The round was led by Seraphim Capital, the world’s first venture fund dedicated to SpaceTech, Vaekstfonden, the Danish state’s investment fund, and Angel Investor, Helge Munk.

    The use of space is key to solving significant challenges faced in the world – from ensuring worldwide connectivity to providing data to solve environmental issues. As a multitude of sectors start looking toward space, the number of satellites in orbit will increase significantly in the next few years. 

    Andrian Buchi, CTO and co-founder, says: ”We see a high level of interest for our technology, not only in antenna measurements but also in other test solutions aimed specifically at higher frequencies and at the future mass deployment of mega-constellations.”

    To ensure the best fit between QuadSAT’s solution and the industry requirements, the team is working closely with SOMAP, a consortium of the world’s biggest Satellite Operators.

    Further, QuadSAT has recently completed contracts with the European Space Agency’s (ESA) program for supporting the development of advanced satcom products and services.

    QuadSAT future plans

    The investment round follows a seed round at the start of 2019. This pre-series A investment will accelerate product testing allowing QuadSAT to transition its current product, currently offered as a service, to be sold as a product for third party users.

    This will also allow QuadSAT to expand its UK research and development activities.

    QuadSAT plans to raise a Series A round within a year further expanding the revolution of antenna testing in the SATCOM industry.