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# News August 22, 2022: CAKE, Anyfin, H2 Green Steel, Curb Food, European startup mafias and more
- URL: https://www.swedishtechnews.com/news-august-22-2022/
- Published: 2022-08-22T15:00:01.000Z
- Updated: 2023-08-16T05:41:29.000Z
- Description: Here is today's curation of news from Sweden's startup and tech sector, as well as some interesting reads, exclusively for subscribers of Swedish Tech News.
- Author: Martin Weigert
- Tags: Daily (PRO), Anyfin, Stegra (formerly H2 Green Steel), curb food, cake

Here is today's curation of news from Sweden's startup and tech sector, exclusively for subscribers of Swedish Tech News.

💡

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### News from Swedish startups, the tech sector and VCs

- [CAKE](http://www.ridecake.com), Stockholm-based electric motorcycle startup, delivered 1050 motorcycles in 2021 and has 5500 units on its order books, which it plans to deliver within the next 18-20 months. However, supply chain issues and lack of compontents are causing challenges, says founder and CEO Stefan Ytterborn. The company plans to raise a Series C in fall 2022 ([Swedish](https://www.di.se/digital/orderstocken-svaller-for-cake-ett-sjukt-intresse/) / *DI Digital paywall*).
- Stockholm-based consumer finance app [Anyfin](https://anyfin.com/), which is active in Sweden, Finland and Germany, generated revenue of SEK130M (€12M, $12M) in 2021, and a net loss of SEK199M. Co-founder & CEO Mikael Hussain says the startup is benefiting from high inflation and had close to 500,000 downloads during H1 2022 ([Swedish](https://www.di.se/digital/inflationen-ger-skjuts-for-anyfins-tjanster/) / *DI Digital paywall*).
- Swedish fossil-free steel plant startup [H2 Green Steel](https://www.h2greensteel.com/) signed a final contract with German car maker BWW Group on the delivery of CO2\-reduced steel ([English](https://news.cision.com/se/h2-green-steel/r/h2-green-steel-and-bmw-group-sign-final-agreement-on-delivery-of-co-2-reduced-steel,c3616800)).
- [Curb Food](https://curbfood.com/), Stockholm-based dark kitchen and online restaurant brand operator, is expanding into Germany with a first store in Berlin ([English](https://www.linkedin.com/posts/himanshu-maria-269091ba%5Flaunch-expansion-teamwork-activity-6962668569335582721-wYiF/)).

### Other interesting things from the startup/VC world & beyond

- Dealroom added 150+ companies to the “European startup mafia” landscape, which among many other protagonists features Sweden's "Spotify mafia" (25 companies) & "Klarna mafia" (15 companies) ([English](https://app.dealroom.co/lists/17638)).
- Early founders shouldn't let other people talk them out of their startup idea ([English](https://microfounder.com/blog/no)).

### Other interesting things related to Sweden

- Costco, the American multinational chain of big-box retail stores, plans to open its second Swedish store in 2024 outside Malmö. The first store will open near Stockholm in the coming months ([Swedish](https://www.market.se/handelsplatser/etablering/hit-kommer-costco-har-gjort-klart-med-en-andra-etablering-i-sverige/), [machine translation](https://www-market-se.translate.goog/handelsplatser/etablering/hit-kommer-costco-har-gjort-klart-med-en-andra-etablering-i-sverige/?%5Fx%5Ftr%5Fsl=auto&%5Fx%5Ftr%5Ftl=en&%5Fx%5Ftr%5Fhl=en&%5Fx%5Ftr%5Fpto=wapp)).

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That's it for today.