Tessin AI Overview on 11/2025

Tessin Nordic – Platform Overview 🏠 

Tessin Nordic is a Swedish fintech real‑estate crowdfunding platform (launched 2014) that connects property developers with investors. It primarily offers secured real estate loans to fund development projects across Sweden (and Finland). Through its online marketplace, hundreds of private and institutional investors can contribute smaller amounts to larger deals, gaining exposure to high‑yield property debt usually at 8–12% annual return. Tessin touts advantages of direct access to property deals, streamlined digital investing, and security via mortgages and guarantees.

However, significant risks exist. Investments on Tessin are high‑risk: projects often lack full bank funding and may default, meaning investors could lose part or all of their capital. Reviews and data highlight frequent project delays and defaults. Many user reports note loan defaults and delays. Tessin’s own stats showed a dramatic rise in loans marked “impaired” (fallissemang) in 2024, even though realized losses have been historically low. Liquidity is also limited: investments are locked until maturity (typically 12–36 months) and there’s no public secondary market. In summary, Tessin offers potentially high returns on secured real estate debt, but investors face ⚠️ high default and illiquidity risks.

Tessin Product Offerings and Structure 💼 

Tessin’s products are mainly real‑estate debt securities. Investors subscribe to secured loans or preference shares issued by developers. In practice, project owners list development loans on Tessin’s platform; investors reserve participation and then sign loan agreements (often via BankID and electronic signature). Returns come primarily from periodic interest payments and repayment of principal at project completion.

Key product details include:

• Type: Primarily senior and mezzanine property loans (with mortgages) plus occasional preference‑share structures. All are collateralized by real estate or similar guarantees.

• Structure: Tessin acts as an arranger and bulletin board. At most 200 investors per deal (per EU crowdfunding rules). Loans have fixed terms (often 1–3 years) with fixed or variable interest. Legal documents (debenture/loan notes) define repayment schedule. Tessin is registered as a financial institute under Sweden’s Finansinspektionen.

• Geography/Sector: Focus is Nordic real estate (residential developments, commercial property). Currently active in Sweden and Finland. No broad tech/other sectors appear offered.

• Investment metrics: Typical yields 8–12% per year. Maturities vary but often 12–24 months. Minimum investment is high (around 10k–50k SEK, often 50k) depending on deal. No explicit maximum for big investors. Returns are paid in cash (interest/dividend) at intervals, with principal at term-end.

• Risks: Major risks include default (borrower insolvency), collateral shortfalls, project delays, and platform risk. Tessin notes that 76% of loans were “distressed” in 2024, though historical realized losses have been claimed very low (~0.3%). Investors have no deposit insurance – capital may be trapped if projects fail. Illiquidity is also a risk: early exit is generally not possible. Overall, principal loss is real if projects go bad, as many negative investor reviews attest.

Tessin Company Profile 🏢 

Founding & Ownership: Tessin was founded in 2014 by Johan Andrén and Fredrik Ulander (former bankers). It is headquartered in Stockholm, Sweden. In May 2022 Tessin raised €100 million from London-based LCM Partners to scale its core lending business. Tessin Nordic Holding AB is the publicly traded parent (listed on Nasdaq First North Growth Market).

Management & Board: The CEO is Heidi Wik (since 2023, succeeding Jonas Björkman). The Board and executive team consist of industry veterans (specific names often on investor site). In 2024 Tessin added new board members as part of its governance refresh.

Partners/Backers: Tessin’s major institutional partner is LCM Partners (London), which initially committed €100M in 2022 to invest in Tessin-originated loans. In 2024 Tessin signed a term-sheet (600 M SEK) with a European asset manager for further institutional capital. These partnerships aim to tap large pools of capital for Tessin’s loans. Tessin also works with a network of financial advisors and property firms (e.g. partner brokers), but maintains control over project selection.

Legal structure: Tessin Nordic AB (publ.) is the parent, with subsidiaries (like Tessin Services AB and Tessin Properties AB) handling advisory and asset management. It’s incorporated in Sweden (Org.nr 556965-9187).

Regulation & Licenses: Tessin is registered as a financial institution under the Swedish FSA (Finansinspektionen). It must comply with Swedish and EU crowdfunding regulations (e.g. ESMA rules on crowdsourced finance). Tessin does not hold a full banking license, but is regulated for its lending matchmaking activities. As of 2024 it also has a Nasdaq listing, with FNCA Sweden as certified adviser. There are no reported regulatory sanctions against Tessin; however investors should note that loans are not covered by deposit insurance, and regulation is lighter than for banks.

Tessin Platform Volumes & Results 📊 

Funding volume: Tessin has originated major volume in the last decade. According to company data, by mid‑2024 Tessin had brokered ~6 billion SEK in loans across 550+ projects. Earlier figures (2022) noted ~4.1 billion SEK to 350 projects, so growth has continued. Project count spans housing, commercial and community property projects. These funds enabled construction of roughly 9,000+ apartments and numerous other buildings.

Repaid to investors: Tessin reports that about 4.5 billion SEK of funded loans have been repaid as of mid‑2024 (up from ~2.9 billion SEK by 2022). The average annual return paid to investors has been around 9–10+% over Tessin’s history. For instance, in October 2023 Tessin repaid ~144 M SEK at an average 10.35% yield.

Investors: Tessin claims over 60,000 registered investors on its platform (59k+ in mid‑2022, ~64k in 2024). These include private savers, professionals and growing institutional participation. Active (funded) investor counts were not explicitly published, but tens of thousands have used Tessin to date.

Defaults and losses: Reported credit losses are claimed very low: Tessin’s investor presentation noted historically ~0.3% loan losses. By Q4 2023 Tessin said credit losses remain “under 0.3%”. However, many loans have gone into “default” status: Tessin’s 2024 stats show 76% of outstanding loans flagged as troubled. This means many loans are late or being restructured. Realized investor losses so far are small percentage‑wise, but future losses could rise if issues persist.

Recent financials: Tessin Nordic Holding’s reports show net revenues of a few million EUR per year. For FY 2024, published key figures indicate ~4.1 MEUR revenue. In Q3 2023 revenues were ~11 M SEK (down from 14.4M prior year). Tessin has often run operating losses, requiring cost cuts and fundraising. In late 2023 Tessin raised new capital (a convertible note) to shore up finances.

Tessin Risk Approach & Management ⚠️ 

Tessin emphasizes credit screening for projects, but investor experiences suggest risk is material. Here’s how Tessin claims to manage risk:

• Project selection: Tessin allows only projects that meet its underwriting: typically property development or bridge financing with solid collateral. Tessin may refuse loans that fail criteria. In theory, all loans are backed by mortgages and guarantees. Tessin’s partner LCM noted their 8% strategy is “asset-backed loans”.

• Due diligence: Tessin states it conducts credit checks on borrowers, assesses sponsor track record and project viability. Projects are presented with details on platform, and only after investor reservations do full prospectuses get shared. Tessin’s site says investments have a “balanserad risk” via collateral. However, many reviews suggest borrowers have missed payments, raising questions on diligence or market shocks.

• Risk grading: Tessin reportedly uses an internal risk classification (developed with FCG Risk & Compliance) to rate projects. Specific ratings are not public, but some projects on platform show risk levels. An investor might pick deals based on these risk categories, but no standardized score (like Moody’s) is given to public.

• Filters: Tessin focuses on property in strong locations (Scandinavia) and often only high-quality developers. They moved into Finland in 2019 and offer loans up to 2–3x per year as old loans repay. There is no evidence they exclude higher-risk commercial projects though.

• Monitoring & reporting: Once funded, Tessin claims to provide updates on project progress. Borrowers must report on construction. Investors get interest reports and final repayment statements. There is no easy secondary market, so reporting is the main communication channel. However, investors criticize that when projects falter, Tessin’s communication is poor. Defaults are reported in their “statistics” page, and major bankruptcies (e.g. an investor-update April 2024 noted another borrower’s bankruptcy) are announced in press. The platform publishes aggregate default and loss stats (as seen on their “Statistik” page).

Tessin Platform Functionality 🔧 

Tessin’s online platform offers these features (as of 2024):

• Investment dashboard: Registered users see available projects, their details and can place reservations. The interface shows fundraising progress (e.g. “74% funded”) and key loan terms (duration, return, etc.). After investing, users have a personal dashboard with loan portfolios and payment schedules.

• Auto-invest/diversification: There is no formal auto-invest tool or algorithmic feature. Investors must manually select deals; one can join multiple syndicates. Tessin promotes “portfolio” investing by encouraging splitting into several loans (no minimum split).

• Secondary market: Tessin does not have an official secondary marketplace, so early exits are not available. Investments stay locked until final payback or borrower’s early repayment, if any.

• Currency/Languages: The platform is primarily in Swedish (some English info). Funding is in SEK or EUR; Tessin projects are usually in SEK (plus some in Finland, likely EUR/SEK). No FX or multi-currency features.

• Support/analysis: The site publishes an FAQ and basic project summaries, but little independent analysis. Investors have no outside rating of projects beyond what Tessin provides. Some blog posts and a “premium” segment exist for select investors, but in general, individual due diligence is expected.

• Extra services: Tessin advertises (optional) premium membership with benefits, and it has a “Tessin Premium” for investors (details not fully public). They also offer bridge fund for institutional deals (Nordic Bridge Fund with lenders). Insurance or guarantees are not offered to retail investors (investment risk is all on lenders).

• Supported OS: Web platform only; no mobile app. Investors log in via browser (with BankID for sign-ups).

• Languages: The main platform has English translations for some pages, but most detailed content (FAQs, press) is Swedish.

Tessin Pricing and Fees 💸 

Tessin’s fee structure is skewed towards borrowers, not lenders:

• Investor fees: Tessin charges no fee to investors on its crowdfunding deals. It does not take interest or commission from lenders; all promised interest goes to them. There are no listing or success fees for investors.

• Borrower fees: Project sponsors do pay fees. Tessin collects arrangement fees and/or success commissions from developers, though exact rates are not public. (Typical P2P platforms might charge 1–3% listing fee, but Tessin does not disclose on site.) Likely, Tessin earns a margin on loans or fixed fees from developers.

• Transparency: Overall, Tessin markets itself as having no hidden fees for investors (no account/withdrawal fees). The platform is “free” for users, which is a key advantage. Fee details for borrowers are summarized in project docs but not easily accessible to investors.

• Performance fees: Tessin does not charge performance fees on investor returns. However, any currency exchange or external taxes would reduce net yield.

• Exit fees: No exit fee, but you can’t exit early via Tessin. If a borrower prepays, there are no penalties for investors aside from missing future interest.

Negative Publicity about Tessin 🚫 

Tessin’s public profile is mixed. Key issues include:

• Loan defaults and delays: Many investors have reported non‑payment and lengthy delays. Multiple Tessin loans (and projects) have gone into default/bankruptcy in 2024–2025 (for example, “Bostadsrättsföreningen Botmunds 1” went bankrupt Sept 2025). A swath of projects have stalled, leaving investors waiting years. On Trustpilot (user review site), dozens of one-star reviews describe substantial losses and unresponsive customer service. Common complaints: “All my loans have defaulted and I’m waiting years for repayment,” and “Tessin has burned bridges with small investors – many lost large sums”. This barrage of negative reviews (mostly from 2024–2025) is a strong red flag for retail clients.

• Regulatory warnings: No official warnings from Swedish regulators were found. Tessin is legally registered and not flagged by Finansinspektionen. However, some analysts (on forums) argue that the high default ratio in their own stats page raises concerns.

• Media criticism: Financial media coverage has been factual, not editorial; example: Börsvärlden in Nov 2023 noted Tessin had brokered >5.5 B SEK to 500 projects with “low credit losses”, implying a positive spin. But articles also reveal that observation status was placed on Tessin’s Nasdaq listing in late 2023 (due to financial uncertainty), only removed in April 2024 after a funding round. That suggests concern from the stock exchange about Tessin’s finances.

• Controversies: Aside from defaults, there are no known fraud scandals or legal cases. No indication of Ponzi‑style activity or misuse of funds. But community sentiment is very negative: Investors feel Tessin’s risk was understated. For example, a review (June 2025) said “Tessin lies in their prospectuses... risks are far higher than presented”. Another called it a “bluff platform” offering sky-high risk.

Overall, ⚠️ major red flags are visible: persistent investor complaints and a spike in project failures, despite official statements of low loss rates. Retail investors should interpret these warnings seriously.

Tessin Success Stories & Milestones 🚀 

• Institutional funding deal (2022): Tessin’s biggest success was securing €100 million from LCM Partners (London) in May 2022. This deal validated the model, broadened capital sources, and was touted as a “game changer” enabling growth. It showed international investor confidence.

• Platform growth: Key milestones include passing SEK 1 B in funded volume (2019), SEK 3 B (early 2021), SEK 4 B (2022) and as of 2024 exceeding SEK 6 B. Similarly, reaching hundreds of projects and thousands of home units were highlighted successes.

• Geographic expansion: Tessin entered Finland in 2019 (first project launched). It aims to become a Nordic leader; by 2024 its loans in Finland totaled into hundreds of millions SEK. There are indications they have considered further expansion in Nordics, though no public launches beyond Finland.

• Awards/recognition: Tessin has won few formal awards but has been recognized by peers and media as a pioneer in Scandinavian proptech lending. Industry reports often list Tessin among top Swedish crowdfunding platforms (e.g. Finmodelslab’s “Top 10 Crowdfunding in Sweden [2025]”).

• Investor returns: Tessin’s marketing cites many “exits” of loans with full repayment. For example, by late 2023 Tessin announced roughly 3.8 B SEK returned and average 9–11% returns delivered. Specific project “success stories” (completed loans) are sometimes highlighted on their site, but these are routine executions rather than extraordinary events.

• Strategic partnerships: Tessin’s partnerships (beyond LCM) include working with consulting firms, local banks (for bigger syndication) and listing on Nasdaq. Its listing on First North in 2020 was a milestone, raising equity capital from many retail investors.

These positives—rapid growth, institutional backing and scale—offer some counterweight to the risks. They demonstrate Tessin’s ability to scale and attract funding. But they should be weighed against recent setbacks (noted above).

Is Tessin safe and regulated?

Tessin is legally registered in Sweden as a financial institute and must follow crowdfunding regulations. However, it is not a bank and does not insure investments. Investor funds are not protected (no deposit insurance). Recent history shows many loans have defaulted or been delayed, so safety is limited. Due diligence by investors is crucial.

What returns can I expect?

Tessin markets returns of 8–12% per annum. Historically, average yields have been about 9–10%. But realize these are gross returns from borrowers. Actual realized returns could be lower if projects default or are restructured. Some projects have paid well above average, but others paid nothing at maturity. Past performance is no guarantee of future results.

What are the main risks?

Risks include loan default and loss of principal, since borrowers may go bankrupt and collateral might not cover debts (reviewers warn “no security is truly covering the loan”). Credit risk is high: many borrowers fail to repay on time. Other risks: illiquidity (cannot easily exit); platform risk (if Tessin itself fails or mismanages loans); and market risk (property values can fall). Regulatory and fraud risk is low (no evidence of scam), but operational transparency is not strong. Overall, Tessin investments are high-risk and should represent only a small part of a diversified portfolio.