Avanza

Avanza Bank Holding AB is the largest stockbroker and brokerage firm in Sweden and on the Stockholm Stock Exchange, with over 1,000,000 customers.[1]

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Avanza Bank Holding AB (publ.)
TypePublic company
Nasdaq Stockholm: AZA
IndustryFinancial services
Founded1999 (1999)
HeadquartersStockholm, Sweden
Key people
Sven Hagströmer, Chairman
Rikard Josefson, CEO
ServicesStockbroker
RevenueSEK 1,193 million (2019)
Number of employees
450 (2020)
Websitewww.avanza.se/start

History

Avanza was founded in 1999 as HQ.se.

In 2001, HQ.se acquired Avanza changed its name to Avanza, which became the largest stockbroker in Sweden, with 80,000 active customers.[2]

In 2006, Avanza acquired Börsveckan AB and launched Placera Nu, an online magazine.[1]

In 2018, the company launched the cheapest global fund in the world, with an annual management fee of 0.05%.[3]

In 2019, Avanza won the Swedish Quality Index’s award for the most satisfied savings customers in Sweden for the tenth consecutive year.[4] Avanza took the first steps in Open Banking by enabling their customers to view their accounts and loans with other institutions in their account summary, as well as making it easier for them to gather their savings at Avanza. The fund page was completely redesigned and improved to facilitate fund savings and choosing funds for a portfolio. Among other things this included the presentation of sustainability data from Morningstar and a completely new function to find and compare funds. Avanza added Avanza Emerging Markets and Avanza USA to their record low-cost fund offer spearheaded by Avanza Global.

References
  1. "History". Avanza.
  2. "Avanza and HQ.SE Aktiespar form the largest Internet broker" (Press release). Cision. June 8, 2001.
  3. "Avanza launches the world's cheapest global fund" (Press release). Cision. August 24, 2018.
  4. "Avanza Bank Wins Banking Technology Award for Best Use of IT". GlobalFinTechSeries. 2019-12-19. Retrieved 2020-06-29.
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