In Conversation with Thor Kristian Seth, CEO of Aritma

As financial processes become increasingly digital, businesses are seeking ways to automate workflows between banks, ERP systems, and financial software. Norwegian fintech company Aritma is at the forefront of this shift, providing infrastructure that connects business systems directly to banks, enabling seamless payments, efficient reconciliation, and stronger financial control.

Simplifying financial workflows

Aritma’s mission is clear: to remove complexity from financial operations by connecting business software directly to banks.

The company operates in two complementary areas. First, it provides solutions that automate financial processes such as payments, reconciliation, and financial oversight. Second, it offers an API-based platform that enables ERP vendors, payroll systems, and fintech providers to integrate banking services directly into their own products.

“Our goal is to remove the fragmentation that still exists between financial systems,” Seth explains. “Financial processes are often spread across multiple platforms that do not communicate well. We want to enable more automated and integrated workflows.”

Through the Aritma Open Finance Platform, software providers can embed banking functionality, such as payment initiation, account information, and real-time balances, directly into their applications. For businesses, this means financial processes can take place within the systems they already use, significantly improving efficiency and control.

From family business to fintech platform

Aritma’s origins date back to 1990, when the company was founded by Seth’s father. Its transformation into a fintech platform, however, came much later.

“My background is technical. I worked as a software engineer before joining Aritma,” Seth says. “Growing up around the business, I knew the company well, but joining it wasn’t something I had originally planned.”

A turning point came in 2013, when Aritma, then a small company with just five employees, lost most of its revenue after a key commercial partnership with Visma ended.

“It forced us to completely rethink our strategy,” Seth recalls.

Shortly afterwards, he moved to Bergen to help rebuild the company. In the years that followed, Aritma evolved from a niche Norwegian software provider into a broader open finance platform serving ERP ecosystems across the Nordics.

Strong growth and international expansion

Aritma has seen strong momentum in recent years, with organic revenue growth approaching 60%. According to Seth, this is driven by a maturing go-to-market organization and strategic partnerships that expand the company’s reach.

With a leading position in the Nordics, Aritma is now preparing for broader European expansion. The shift towards cloud-based ERP systems across the region is accelerating demand for automated financial workflows; an area where Aritma is already well positioned. Automation has always been central to the platform, with a strong focus on eliminating manual work from everyday financial processes. Looking ahead, AI is set to enhance these capabilities even further.

“Our ambition is to combine strong financial infrastructure with intelligent automation,” Seth says. “This allows companies to operate more efficiently and with greater control.”

The partnership with Main Capital Partners

Aritma’s partnership with Main Capital Partners marks an important milestone in its development.

“The key reason for choosing Main was their strong track record in scaling B2B software companies,” Seth explains. “They bring not only capital, but also strategic insight, experience, and access to a broader European network of software businesses and management teams.”

Since the investment, Aritma has become more structured and data-driven, with a stronger focus on KPIs and execution. The partnership has also accelerated growth initiatives; most notably the completion of Aritma’s first acquisition just four months after the initial platform investment.

At the same time, Seth highlights the collaborative nature of the partnership.

“Main challenges us in the right ways while giving us the autonomy to run the business. That balance has been key.”

Looking ahead

Over the next decade, Aritma aims to become a leading financial infrastructure platform for businesses across Europe.

“In five to ten years, we want Aritma to be a natural part of how companies manage their financial operations,” Seth says. “If we can simplify financial processes and improve efficiency, then we’ve achieved what we set out to do.”