Kindred eyes long-term gains with Spanish licence application

Kindred Group has applied for an operating licence in Spain and intends to be live in the market by the end of 2019, EGR Intel has learned.

The operator submitted all the relevant paperwork to Spanish regulators before Christmas despite putting Spain on the back-burner in Q2 of last year, when CEO Henrik Tjärnström told investors he was “mindful of trying to do too much at the same time”.

But speaking to EGR this week, Tjärnström highlighted the “long-term opportunities” offered in Spain as the key reason behind the firm’s latest licence application.

Kindred CEO Henrik Tjärnström

“The ambition is that we will be live some time later this year; towards the end of the year is how it looks right now,” Tjärnström said.

“Spain has a big population and long-term it looks like a good market where we believe we have the right ingredients to build over time.

“Both Spain and the US will be new markets for us, and any numbers we get from either territory will be addition to our growth.

“We want to grow as much as we can in the Nordics and Western Europe, but if we can complement that with growth from new markets, then all the better for us.

“The opportunity is a long-term one,” he added.

Kindred expanded its remote tech team into the Spanish capital of Madrid in August.

EGR’s full interview with Tjärnström will feature in the next edition of EGR Intel.