Better Collective CEO backs Nordic Compass plan for a unified Scandinavian stock exchange

Nordic Compass, a cross-industry alliance exploring a unified capital market for Sweden, Finland, Denmark and Norway, is drawing interest from listed gambling companies. Better Collective A/S Chief Executive Officer Jesper Søgaard told SBC News that the company is following developments closely and is broadly supportive of initiatives that strengthen the region's capital markets.

The alliance was established in spring 2026 and is chaired by former Finnish Prime Minister Jyrki Katainen. Its members include Wallenberg Investments, EQT, Nordea, SEB, Nasdaq Nordic and the Novo Nordisk Foundation. Its work covers capital markets, advanced technology, defence and energy. It will present its first initiatives at the Nordic Compass Summit in Gothenburg on 4-5 November, where business leaders will meet ministers and European representatives.

For capital markets, the aim is to lower national barriers that restrict investment flows and make it harder for Nordic businesses to raise funding as they grow. Options under consideration include a single stock exchange for the four countries, together with greater harmonisation of rules on exchanges, investment options and public offerings. Figures cited by Nordea Bank suggest the project could draw on a Scandinavian pension base of investors and sovereign wealth funds managing almost $4 trillion in assets.

The initiative comes amid concern in Europe about companies moving their listings to the United States. Over the past ten years, 130 European businesses have reportedly relocated there, and HSBC Global has put the associated migration of value out of Eurozone exchanges at $650bn. Gambling is part of that trend: Flutter Entertainment moved its primary listing from London to New York in 2024 and delisted from London entirely this year. Political concern also centres on why firms such as Klarna and Spotify chose US markets over home options.

Better Collective, founded in Copenhagen in 2004, is listed in both Copenhagen and Stockholm. Søgaard said the company already sees some of the benefits of operating across two Nordic exchanges, but that a single regional market would take that integration to the next level. He said a global business built on Nordic foundations sees interesting perspectives in merging into one market, and he pointed to international visibility and specialist analyst coverage as key advantages for iGaming-listed companies.