AI debt collection company PAIR Finance expands to Sweden 

Berlin, 10 September, 2024 – Berlin-based PAIR Finance has successfully challenged the debt collection industry in several European countries through AI and behavioural science. The company is now expanding its operations to Sweden, led by Fredrik Green, a former Klarna executive.

”The debt collection industry has been using methods that have been virtually unchanged for hundreds of years. These methods are mainly inefficient but also strain the relationship between companies and customers who have missed a payment. We are creating a new industry standard and offer what many companies lack—a fully digital customer journey that is both respectful and flexible for the customer“, says Fredrik Green, Managing Director of PAIR Finance Sweden. 

Founded in Berlin in 2016, PAIR Finance has helped over 600 companies in seven European countries to receive faster and higher recovery of outstanding receivables without straining the relationship with their customers. 

The secret to success lies in the company’s self-learning AI model that adapts communication based on customer data and behavioural science. Currently, the AI model can utilise around 30,000 different approaches to reach the customer as effectively as possible. The service is designed to allow the customer to take control of the missed payment and provide the option to pay according to their preferences. This method enables the company to secure approximately 10-15% more repayments compared to the rest of the debt collection industry. 

In 2023, the number of debt collection cases in Sweden amounted to 9.64 million, of which 1.25 million cases went to the Swedish Enforcement Authority. The total debt amounted to SEK 112.9 billion, according to the industry association Svensk Inkasso. Sweden becomes PAIR Finance’s eighth market, and the expansion is taking place alongside several existing customers. 

The company also targets new customers in e-commerce, banking and payments, insurance, mobility, energy, digital services, and media companies. Fredrik Green has been appointed Managing Director for Sweden and previously held leading roles in payments and e-commerce, including at Klarna. PAIR Finance has recently opened an office in Stockholm. 

”We are thrilled to welcome Fredrik to our team. With his impressive background, especially his experience from Klarna, we have found a driven and customer-focused leader for our operations in Sweden. Together, we are driving PAIR Finance’s expansion, and I’m excited to bring our innovative debt collection solution to the Swedish market, challenging the traditional status quo”, says Stephan Stricker, founder and CEO of PAIR Finance.

High resolution images can be found at the following link:
https://pairfinance.com/en/press-images-sweden/