The change of listing to Spotlight Stock Market from First North lowers Tessin Nordic’s costs overall, but brings more benefits than that. That is stated by the company’s CEO, Anders Kumlin.- We also gain access to more services, become more visible, and reach more investors, says Anders Kumlin to Finwire.On Tuesday, the share started trading on Spotlight.He adds that the ambition is for the company to be listed there long term.Tessin arranges real estate loans between property developers and private individuals, professional and institutional investors. Since its start in 2014, the company has arranged over SEK 5.9 billion to around 600 real estate projects and today has approximately 65,000 active investors.The company primarily focuses on small and medium-sized property developers who have difficulty obtaining bank financing, as banks, due to capital adequacy requirements, prioritize larger and more established players. This gives Tessin the opportunity to be selective in its deals while offering attractive terms to investors.- Because it is difficult to obtain loans for many property developers, we can demand strong collateral and still offer interest rates of 13-14 percent. We are selective and only do business with the right counterparties, says Anders Kumlin.Kumlin took over as CEO this spring after previously having been CEO of Spotlight Stock Market. A large part of the year has been devoted to cost savings and a restructuring of the group.- We have already reduced our internal costs by around SEK 7 million on an annual basis. With the change of listing, costs will decrease further. Every krona we spend should create value for investors.In parallel, the company is developing new investment formats to broaden the offering.- Demand from property developers is strong, and forecasts indicate that it will increase even more as the construction market now gradually comes back to life again, he says.What types of real estate projects are financed via Tessin?- It varies. Lately, many loft and conversion projects have returned after a weak period. Previously, semi-detached housing projects with 10-24 units were common and remain popular. These can range from smaller amounts to larger financings.Tessin can either finance entire projects together with its investors, often up to around 80 percent, or complement bank financing with capital higher up in the structure.- We function as a Tinder for real estate loans, an intermediary between project owners and the capital market, where our solutions make it possible to raise capital when banks don’t suffice.What does demand from property developers look like in today’s interest rate environment?- There is a certain mismatch. Investors want the higher rates they have grown used to in recent years, while project owners want lower financing costs. The interest rate level has been around 13 percent for 3-4 years.How sustainable is that level over time?- Construction will increase, not only in major cities but also in growth locations with new workplaces. Financing is more difficult to assess. Previously there was a lot of capital and few projects; now it is the opposite, and capital is more selective.Are you seeing increased credit losses or delays?- Historically, credit losses have been very low, below 1 percent. This year we see some increase linked to older projects. Cost increases have caused some projects to stall or lead to bankruptcies, but this is from low levels and we always lend against first-lien collateral.What does the scalability of the platform look like?- It is significant. The platform could be used for more services, but our focus is on real estate and construction-related financing. We continuously bring in new investors while many have ongoing investments.Is there a need for new capital or share issues going forward?- Not at the moment, but that may change depending on how the strategic discussions develop.What should investors keep an eye on in 2026?- We have decided on a reverse split where two decimal places are removed from the share price. After that, we will communicate about future initiatives. Construction is increasing, and we want to give institutional investors better access to our services.How do you want Tessin to be perceived in three years?- As a professional company that makes quick but well-considered decisions.- With stricter capital adequacy requirements, banks are pulling out of certain segments, which creates opportunities for us to take a larger role where others say no, concludes Anders Kumlin.