When Fronteer Solutions started in 2012, there were no banks that would like service, but now Sparebank 1 SR-Bank Finstart Nordic comes into ownership.
Fronteer Solutions now has a total $ 35 million investment – most of which are David Baum in Sparebank 1 SR-Bank Finstart Nordic, writes Dagens Næringsliv. Money is investing in editions. An entrepreneur behind a robotic service says he can make big differences to the business.
– We'll replace the machine manager. Research shows that machines make better investments than people, and we can actively manage them at lower costs, "says Atle Christiansen, entrepreneur and executive director of Fronteer Solutions, at Dagens Næringsliv.
Christiansen previously participated in the Point Carbon mill, which in 2010 was sold to Thomson Reuters for 1.1 billion NOK.
30 million Baum contributes to Fronteer Solutions, which comes from the Sparebank 1 SR-Bank of 300 million – dedicated to investing in financial technology. So far, the company's back-loss – with a loss of 12.8 million euros and a million-in-one revenue in 2017 due to low fees. Actual total assets now amount to 220 million. Christiansen believes it will be a better time with a further drop in the stock market.
Only one Norwegian stock
Now it is planning to launch Fronteer Solutions in Sweden and will spend time growing further.
"Internationalization is something that makes this interesting. There are not many Norwegian fiction examples that have done so," Baum told Finstart Nordic, Dagens Næringslivu.
In other robots, robots often load a lot of orders at the same time, and milliseconds can be key. So far, Fronteer Solutions has its own fund, Harvest, only one Norwegian fund – Telenor. It was mechanically selected after the Investment Director chose the factors and looked into systems based on insight.
Christiansen says that philosophy is investing in companies that are "safe and boring" – which in good times yields less yields than average times, but can also be expected to recover it.
"We looked terribly stupid before the financial crisis and the next day as a smart boy in the class," said Dagens Næringsliv.