65000
investors
Kameo is a Nordic lending platform, started in Oslo in 2014 and now run from Stockholm by Kameo Investment Platform AB. Investors in Sweden, Norway and Denmark lend to small and mid-sized property developers and other companies. Since 2016 it has arranged SEK 10.76 billion across 1,664 loans and 545 projects, including some loans arranged outside the platform for institutional lenders (1 September 2026).
You lend from 500 kronor per loan (SEK, NOK or DKK) to named companies, mostly for building, renovating or bridging property projects. Each loan has a fixed rate, pays interest regularly and repays the capital at the end; loans made in 2024 ran about 18 months on average. Each loan gets a risk grade from A to E, which sets the rate. You choose loans yourself, or use the automatic investing tool. Less experienced investors get a risk warning, a limit of €1,000 per project unless they confirm otherwise, and four days to cancel.
The loans carry an average interest rate of 9.3% a year, weighted by amount, across all 1,664 loans since 2016 (1 September 2026). That is the rate in the contracts, before losses, idle cash and tax; Kameo publishes no return after losses. Rates peaked at 10.4% for 2023 loans and 10.9% for 2024 loans, and have fallen to 8.1% for loans made in 2026. Kameo has paid SEK 717 million in interest so far. Its home page advertises an expected return of 5% to 15% a year, which is the range of loan rates, not a result.
Confirmed losses are very low so far: SEK 12.9 million, 0.147% of the money arranged (1 September 2026). But this counts only problem loans that have been fully worked out. 74 of the 1,664 loans (4.4%, by number) have defaulted; Kameo does not say what it counts as a default. SEK 102.2 million of overdue loans, mostly from 2023 and 2024, is still being worked out and is counted at no loss for now, so the loss figure will probably rise.
Loans from 2023 and 2024 are the weakest: 8.6% and 7.0% of them defaulted. By grade, no A loan has defaulted, against 3.0% of B loans, 10.3% of C loans and 16.7% of E loans. Kameo reports Sweden, Norway and Denmark as one book, so you cannot see which country's loans went wrong. Its list of late loans (25 October 2026) shows SEK 33.6 million at three borrowers, about a third of the overdue amount in the statistics, and the difference is not explained.
Every loan is secured by a pledge, usually on property, and some also carry a guarantee from the borrower's parent company or owner. Kameo does not publish whether its mortgages rank first, how it values the property, or a maximum loan-to-value. There is no buyback, no reserve fund and no insurance.
The security has been tested: of the overdue loans that have been fully worked out, SEK 117.4 million of SEK 130.3 million came back, about 90% (calculated from the platform's own figures, September 2026). Costs of enforcement are taken from what is recovered. In one documented case, a SEK 5 million loan, investors got back 80% of their capital. For the investor this means: losses so far have been small because the property security worked, but about half of all overdue money is still being recovered.
Kameo Investment Platform AB, Stockholm, is authorised by Finansinspektionen, Sweden's financial regulator, as a crowdfunding service provider for loans under the EU rules since 8 November 2023, and as a payment institution since 27 October 2023. It serves Denmark under that licence since November 2023 and Norway since 1 August 2026, through its Oslo branch. The company made a small loss in 2024 (SEK 5.3 million on revenue of SEK 70.2 million). We found no regulator action against it.
Opening an account, paying in, withdrawing and choosing loans yourself are free. The automatic investing tool costs 10% of the interest paid on the loans it picks, waived until 31 December 2026. Changing currency between your SEK, NOK and DKK accounts may cost a fee. Enforcement costs on failed loans are taken from the money recovered. Borrowers pay Kameo an arrangement fee and other charges.
You get your money back only when the borrower repays at the end of the loan, about 18 months on average for loans made in 2024, later if the loan runs late. There is no market to sell loans to other investors and no early exit. Cash not yet lent can be withdrawn at any time.
Return: Medium — the loans pay 9.3% a year on average (September 2026), before losses and tax. Risk: Very Low (higher means more risk) — confirmed losses are 0.147% of the money arranged, and about 90% has come back from worked-out problem loans; but 4.4% of loans have defaulted and SEK 102 million of 2023-24 problem loans is still unresolved. Risk-return: High — a medium rate with very low losses so far, as long as the property security keeps working for the open cases.
License / Regulation: Kameo Investment Platform AB (org. nr 559434-0456) is authorised by Finansinspektionen, the Swedish financial regulator, as a crowdfunding service provider for loans under Regulation (EU) 2020/1503 (since 8 November 2023) and as a payment institution (since 27 October 2023). It serves Denmark cross-border under the Swedish licence (since 17 November 2023) and Norway through its branch Kameo Investment Platform AB NUF (crowdfunding notification 1 August 2026). No compensation scheme covers the loans.
Yes. Kameo Investment Platform AB is authorised by Finansinspektionen, Sweden's financial regulator, as a crowdfunding service provider for loans under the EU rules (since 8 November 2023) and as a payment institution. It serves Denmark and, since 1 August 2026, Norway under that licence. Regulation does not protect you from borrowers failing to repay.
Kameo is its own payment institution. Money not yet lent sits in a separate client account at DNB Bank, apart from Kameo's own money. Money already lent is owed by the borrowers.
500 kronor per loan, in SEK, NOK or DKK depending on your country. Less experienced investors are limited to €1,000 per project unless they confirm they accept the risk.
The loans pay 9.3% a year on average before losses and tax. Confirmed losses are 0.147% of the money arranged and 4.4% of loans have defaulted (1 September 2026). SEK 102.2 million of overdue loans is still being worked out, so losses will probably rise.
Every loan is secured by a pledge, usually on property, sometimes with a guarantee from the borrower's owner. Kameo does not publish mortgage ranking or loan-to-value. There is no buyback or reserve fund. From problem loans that have been worked out, about 90% of the money has come back.
No. There is no market to sell loans; you wait until the borrower repays, about 18 months on average for 2024 loans, longer if the loan runs late. Cash not yet lent can be withdrawn at any time.
Investing manually is free: no account, deposit or withdrawal fees. Automatic investing costs 10% of the interest on the loans it picks, waived until 31 December 2026. A currency exchange fee may apply, and enforcement costs on failed loans come out of what is recovered.
If a borrower fails, Kameo enforces the security and pays out what is recovered, after costs; the shortfall is your loss. If Kameo went bankrupt, your loan claims stay yours, a lawyer appointed by the administrator would take over collecting repayments, and money not yet lent is in the client account at DNB.
Kameo reports Sweden, Norway and Denmark as one combined book, with the same statistics on all three country sites. It publishes results by year and by risk grade, but not by country.
