Nasdaq StockholmIFRS · SEK

Clar Global

Clar Global AB (publ) operates a technology-driven credit brokerage platform that connects consumers with banks and other financial institutions through digital marketplaces. The group operates across Europe, Latin America, and Asia through a portfolio of local brands and marketplace businesses.

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Operating profit (EBIT)-700m SEK
−3,040.6 %y/y
Net income-701m SEK
−3,999.0 %y/y

Fiscal year 2025 · change from previous year

Development 2024–2025

-800-600-400-2000m SEK2024: EBIT -22 m SEK20242025: EBIT -700 m SEK2025-700
RevenueOperating profit (EBIT)
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Business

Share of revenue
Credit brokerage marketplaces70 %

Digital platforms that match consumers seeking credit with banks and financial institutions.

Lead generation and referral services20 %

Performance-based customer acquisition services sold to financial partners.

Local marketplace brands10 %

Country-specific consumer finance portals and comparison brands such as Lendo, MyBanker and Compricer.

Customers

Clar sells primarily to banks, lenders, and other financial institutions that want access to qualified consumer credit demand. Its end users are consumers comparing loan and financial-product offers, while the company monetizes the traffic and matching process through its financial partners.

Banks and traditional lenders

Buy consumer credit leads and applications to expand origination efficiently.

Non-bank financial institutions

Use the platform to source borrowers and compete for credit demand online.

Consumer borrowers

Visit the marketplaces to compare loan offers and improve access to credit.

Local marketplace brands

Country-specific audiences that generate traffic and conversion for lender partners.

Strategy

Clar's strategy is to combine scale, technology, and local trust to improve matching between consumers and financial partners. The company is also integrating acquired businesses into a consolidated group to increase control, realize synergies, and broaden its platform across markets and brands.

Operational integration of acquired businessesShort term

A unified group structure can improve control, governance, and cross-market synergies.

Technology-driven matching and customer acquisitionMedium term

Better data and platform performance improve conversion for lenders and monetization for Clar.

Geographic expansion and portfolio buildingMedium term

A broader market footprint reduces dependence on any single country and increases partner reach.

Geography

Clar operates in 14 markets across Europe, Latin America, and Asia, with a particularly strong Nordic footprint through Lendo Group. The business is geographically diversified, which broadens its lender relationships and consumer reach but also exposes it to different credit cycles, regulation, and local market dynamics.

Risks

Clar depends on continued demand from banks and lenders, so changes in partner appetite, pricing, or contract terms can affect the platform's economics. As a multi-country credit marketplace, it also faces regulatory, integration, and execution risks, plus normal exposure to consumer credit cycles and competition from other digital acquisition channels.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Acquisition integration risk1Regulatory and compliance risk3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Acquisition integration riskImpact: HighLikelihood: Low

    Clar is combining multiple businesses, brands, and operating systems into one group.

    Exposure: Synergies may be delayed and costs or complexity may rise.

  2. Lender and bank partner dependenceImpact: High

    The business monetizes consumer demand through agreements with financial institutions.

    Exposure: Revenue and conversion rates can fall if partner terms worsen or contracts end.

  3. Regulatory and compliance riskImpact: MediumLikelihood: Low

    Credit brokerage and consumer finance marketing are regulated differently by market.

    ExposureLocal rules can affect lead generationDisclosuresPartner relationships
  4. Consumer credit cycle riskImpact: Medium

    Demand for loans and lender risk appetite move with macroeconomic conditions.

    Exposure: Lower origination volumes can reduce marketplace activity.

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Accounting

Judgemental items
Consolidation after change in accounting policy

Subsidiaries are now consolidated, changing revenue, assets, and operating profit presentation.

Impact: Comparability with prior periods is limited because earlier figures were not restated.

Business combinations and purchase accounting

Acquisitions such as Lendo require allocation of purchase price to assets and liabilities.

Impact: Can create goodwill and identifiable intangibles that affect future impairment testing.

Fair value measurement

Portfolio holdings were previously measured at fair value through profit or loss.

Impact: Valuation changes can create volatility in reported earnings and balance-sheet values.

Foreign currency translation

The group operates in Europe, Latin America and Asia with multiple local currencies.

Impact: Exchange-rate movements can affect reported revenue, costs, and net assets.

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Last updated: 24/09/2026

Clar Global (XSTO) – Financial Analysis & Key Metrics – Clarifo