What is Divly? Nordic crypto tax tool review (2026)

What Divly is and why this tool matters in the Baltic and Nordic regions

Filing a crypto-tax return across the seven Norriwire target markets - Latvia, Lithuania, Estonia, Finland, Sweden, Norway and Denmark - has long been a painful process. Most international tools produce only a generic PDF of capital-gains figures, leaving you to transcribe the numbers into the official form yourself - LV D-21, LT GPM308, SE K4 or NO RF-1359. Divly is a Stockholm-based fintech that addresses this problem specifically for the Nordic and Baltic market. After Koinly, it is the second-largest international tool with deep regional support, and in certain jurisdictions - particularly Sweden - it openly outperforms competitors in the depth of its Skatteverket integration.

This deep dive examines, at a factual level, what sits behind Divly: the founding team, corporate structure, public funding history, product range, partnerships with Coinmotion and Safello, the 2026 pricing model, and the risks a Baltic/Nordic user should weigh before adopting the platform. This piece is sponsored content from a Norriwire affiliate partner - we disclose that openly, and every claim is checked against public sources.

In short - the key facts

Who founded Divly - two Stockholm graduates

To understand how Divly went from a student project to roughly 85% European market coverage within three years, it helps to know the founding team. Unlike many crypto tools, Divly has clear Scandinavian roots.

Carl Gärdsell (CEO and co-founder) - an MSc graduate of the Stockholm School of Economics who worked in consulting before founding Divly. The school's public alumni profile lists his motivation as direct experience with how complicated Swedish crypto-tax filing is - completing Skatteverket's K4 form for 500+ transactions is essentially impossible without automation. He leads strategy, partnerships (Coinmotion, Safello) and public communications.

Ruben Rehn (CTO and co-founder) - the technical co-founder responsible for platform engineering, integration builds and blockchain scanning infrastructure. Rehn's LinkedIn posts reveal that in early 2021 he and Gärdsell started with a simple prototype - a CSV-aggregation tool for the Swedish K4 form. From there it grew into today's platform with 130+ exchange auto-imports.

The team's Stockholm roots are critically important for product positioning - Divly does not try to be a global tool for everyone (the Koinly approach). It is built specifically for the Nordic and Baltic market, where it can compete on deeper local integration than a giant with 800+ exchange coverage but weaker Scandinavian support.

Corporate structure and legal base

Divly operates as a Swedish limited company (Aktiebolag, AB) headquartered in Stockholm. Unlike many fintech startups that opt for Malta, Estonia or the UK for tax or licensing reasons, Divly deliberately stayed in Sweden - which lets the company work in direct contact with Skatteverket, Finansinspektionen and the largest local exchanges Safello and BTCX.

According to public records, the corporate structure is simple:

• Divly AB - the single operating entity
• Registered with Bolagsverket (the Swedish Companies Registration Office)
• Based in central Stockholm
• Delivered as Software-as-a-Service via divly.com - no customer assets are entrusted to the platform, only transaction history and read-only API keys

This differs from, for instance, Neverless, where a single fintech team builds several legal entities across jurisdictions (SIA in Latvia, S.L. in Spain, Ltd in the UK). Divly's choice is technologically and financially simpler.

Funding - $400K seed and how it was used

Divly's public funding history is laconic but clear. On 6 March 2023 the company closed a $400,000 seed round with the following participants:

• DHS Venture Partners - a Stockholm-based early-stage fund focused on Nordic B2B SaaS startups
• Greens Ventures - a European technology fund
• YEoS Ventures - a Scandinavian early-stage fund

Unlike many competitors' trajectory (Koinly with 1M+ active users and a UK corporate structure, Blockpit with EU institutional funding, CoinTracking with 13 years of reinvested revenue), Divly has chosen a bootstrap-lite model - a relatively small seed round, a small team (around 9 people in mid-2024), but a solid revenue model from one-off payments. That is reflected in the product approach - there is no aggressive marketing budget, the focus is on organic growth, partnerships and SEO-driven content (Divly publishes an extensive guides library for every target market).

A second public funding round has not been announced as of May 2026. That means the company either has reached cash-flow positive on its existing seed money or is preparing for a Series A later in the year.

Customer base and partnerships

Divly does not publicly disclose precise user numbers, but several public indicators paint a picture of its market position:

• Trustpilot: a 4.5 rating from 157 reviews (April 2026) - smaller volume than Koinly's 40,000+, but qualitatively high, with emphasis on personal customer support and Scandinavian-language proficiency.
• Safello partnership: since 2022 Divly has been Safello's (Sweden's largest crypto brokerage) official tax cooperation partner. Safello publicly markets approximately 300,000 users in Sweden, a significant share of whom are funnelled to Divly when preparing K4 forms.
• Coinmotion partnership: since March 2023 Divly has been the integrated tax partner of Coinmotion, Finland's largest Bitcoin and crypto service provider, with direct API integration.
• Market coverage: in Divly's published 2025 review, the platform reports reaching roughly 85% of the European market (defined as countries with full tax-report support).

A customer-base profile inferred from Trustpilot reviews and the public market materials:

1. Swedish retail traders - Divly's core segment. People with 50-2,000 transactions per year who want automated K4 form generation.
2. Norwegian and Finnish mid-volume crypto users - to whom localised RF-1359 or Lomake 9 support matters.
3. German and Dutch users - a newer segment, where Divly competes with Blockpit.
4. Professional accountants - Divly runs a dedicated "Tax Professionals" programme for Sweden and other markets, letting accounting firms prepare returns for multiple clients.

The Baltic (LV, LT, EE) customer base is currently smaller than the Scandinavian one - reflecting both market size and the absence of local-language UI (Divly's interface is not available in Latvian, Lithuanian or Estonian).

The product - how Divly differs from competitors

Divly's product is a typical SaaS crypto-tax platform, but with three specific traits that set it apart from global competitors.

1. Localised official forms across seven Norriwire countries

What makes Divly especially strong for a Baltic and Nordic user is automated generation of official tax forms for each jurisdiction:

Practical implication: if you have 800 transactions a year in Sweden, Divly generates exactly the Skatteverket K4 form you can upload to the declarations system with minimal manual edits. Competitors such as CoinTracker or ZenLedger would give you a generic PDF of capital gains that you'd have to retype into K4 yourself.

2. One-off payment with a transaction-based scale

Unlike Koinly's per-tax-year model with fixed tiers ($49 → $279) or Blockpit's annual subscription, Divly uses a single payment that scales with your transaction count for the specific tax year:

Important: the price is calculated on the specific tax-year transaction count, not your total imported history. If you have imported 1,000 transactions in total but only 150 belong to the 2026 tax year, you pay the 150-tx tier.

3. The manual Expert review option (Peace of Mind, Full Service)

This is unique Divly functionality in our region. Most competitors (Koinly, Blockpit, CoinTracking) offer only the automated SaaS product - you are responsible for transaction classification, fixing errors and filing the return. Divly adds two extra tiers:

• Peace of Mind (from €99): A certified Divly Expert manually reviews your transaction history, identifies issues and prepares a detailed report with fixes. You remain responsible for filing the return, but with higher accuracy.
• Full Service (from €499): A personal Divly Expert prepares your declaration, hosts 1-on-1 video sessions and helps guide the filing. It's the closest thing to a crypto-specialist tax consultant at this price point.

This add-on product line is a logical extension of Divly's business model - one-off pricing and deep Scandinavian integration, with real human consultation complementing the automation.

Integrations - what is actually supported

Divly's 130+ automatic exchange integrations and 200+ wallet and blockchain connections cover most practically used data sources:

Exchanges with direct API integration: Binance, Coinbase, Kraken, Bitstamp, Bitvavo, Bitpanda, Coinmotion, Safello, BTCX, Bybit, OKX, Crypto.com, KuCoin, Gate.io, Kraken EU, Coinbase EU, Coinbase Advanced, Robinhood Crypto, Lightyear, Firi, Trade Republic.

DeFi protocols: Uniswap (v2, v3), SushiSwap, PancakeSwap, Curve Finance, Aave, Compound, MakerDAO, Lido (liquid staking), GMX.

Wallets and blockchain scans: Bitcoin (direct chain scan), Ethereum, Solana, Polygon, Avalanche, BNB Chain, Arbitrum, Optimism, Cardano, Polkadot, Cosmos. Hardware wallets: Ledger, Trezor (via public addresses).

Manual import: CSV files and manual entries where a specific exchange isn't directly integrated.

Compared with Koinly's 850+ integration catalogue, Divly's 130+ is smaller - but for most Baltic/Nordic users running 3-5 platforms (typically Bitvavo, Kraken, Coinbase, Coinmotion and one DeFi wallet), it covers everything needed.

Cost basis methods and country specifics

Divly supports the primary cost-basis methods for each jurisdiction:

• FIFO (First In, First Out) - default for Latvia, Lithuania, Estonia, Finland, Denmark
• AVCO (Average Cost Basis, Swedish: genomsnittsmetoden) - Skatteverket's default for the K4 form
• Specific identification - in limited cases

Latvian context: VID accepts FIFO as the default method. Since 1 January 2025 the capital-gains rate is 20% (down from 25.5%). Divly's D-21 form generation automatically applies that rate.

Lithuanian context: VMI GPM308 uses FIFO. Divly produces the correct capital-gains figures.

Estonian context: MTA Tulu deklaratsioon vorm A "Other income" section. Estonia has a specific rule: crypto-crypto transactions are not taxed unless converted to fiat. Divly recognises this and avoids misclassifying these.

DAC8 impact - why Divly matters more in 2026

From 1 January 2026 EU member states (including all seven Norriwire markets) bring DAC8 into effect - the Eighth Directive on Administrative Cooperation in tax matters. It requires every EU-based crypto exchange and every exchange serving EU clients to automatically report user transactions, balances and income to local tax authorities.

The first reporting deadline is 30 September 2027 - meaning VID, VMI, MTA, Verohallinto, Skatteverket, Skatteetaten and Skattestyrelsen will all receive a full crypto data stream covering tax year 2026. This dramatically narrows the option to "forget" to declare crypto trades - tax authorities will independently know what was traded.

Practical implications for the Baltic / Nordic user:

1. Filling out a return manually is risky - any discrepancy versus the DAC8 stream that VID/VMI/MTA receive can trigger an audit and penalty.
2. Divly-level tools become a practical requirement for active traders - to ensure your return matches what the tax authority will receive from exchanges via DAC8.
3. The manual Expert review option (Peace of Mind, Full Service) becomes especially valuable for large portfolios.

Divly publishes substantial DAC8 educational content in its guides library, and during 2026 the platform has extended automated comparison between imported transactions and the expected DAC8 dataset, so discrepancies can be flagged before the return is filed.

Security, GDPR and risks

Divly's security posture aligns with modern fintech standards:

• GDPR compliance - Swedish registered entity with EU data processing (AWS and Google Cloud EU regions)
• API READ-only access - Divly CANNOT execute trades on your behalf
• API key encryption - AES-256
• 2FA on the Divly account
• Data export and deletion on request (GDPR Article 17)
• One-off payment model - Divly never adds a recurring card charge

The main risks and limitations to be candid about:

1. Smaller integration catalogue than Koinly - 130+ automatic integrations versus Koinly's 850+. For most users with 3-5 platforms it's not a problem, but for DeFi power users with 20+ protocols Koinly may be better.
2. No futures support - perpetual and expiring futures trades are not fully supported.
3. No Latvian, Lithuanian or Estonian UI - the interface is in English, Swedish, Norwegian, Danish and Finnish.
4. Price scales steeply with transaction volume - up to €399 for 100,000 tx in Essential and up to €899 in Full Service. For high-volume traders this can reach a meaningful number.
5. Smaller headcount than Koinly or Blockpit - around 9 people allows fast iterative shipping, but means a smaller internal security and compliance footprint than the larger players.
6. A second funding round has not been announced - while this implies fiscal discipline, it also increases risk if a market shock seriously reduces revenue.

Who Divly fits

An active Swedish or Norwegian trader - Divly is the best choice if deep local integration with Skatteverket or Skatteetaten matters to you. K4 and RF-1359 generation are competitively the strongest in Europe.

A Finnish or Danish user - good local-support option with Lomake 9 and Årsopgørelse generation.

A Baltic (LV, LT, EE) user with specific needs - Divly is a good secondary choice if you like the Scandinavian design approach and the one-off payment model. The main hurdle - no local-language UI.

A user who wants the manual Expert review - Peace of Mind and Full Service are unique at this market segment. If you have a large portfolio or a complex transaction history, manual Expert verification is a valuable safety net.

A beginner with <100 transactions per year - start with Divly's Free tier for portfolio tracking, pay €39 Essential only when you're ready to file.

A professional accountant - the Divly Tax Professionals programme lets you prepare returns for multiple clients in a unified workflow.

Not a fit for:

• Users who want LV/LT/EE UI localisation (Koinly doesn't offer it either, but its integration catalogue is larger)
• DeFi-only users with very complex protocol stacks (Crypto Tax Calculator or CoinTracking may be better)
• Futures and margin traders (Divly Essential doesn't capture futures fully)
• Corporate clients at institutional scale (Divly's focus is retail and small business)

Alternatives for the Baltic and Nordic user

Verdict

Divly is not a scam - it is a five-year-old (since January 2021) Stockholm-registered fintech with Carl Gärdsell and Ruben Rehn as founders, $400K of seed funding from serious Scandinavian funds, partnerships with Coinmotion and Safello, and a 4.5 Trustpilot rating. It's not the global crypto-tax leader (that remains Koinly), but in the Norriwire region it is a strong specialist.

In the Norriwire context, Divly is particularly strong for Scandinavian users - Sweden's K4 with the AVCO method, Norway's RF-1359, Finland's Lomake 9 and Denmark's Årsopgørelse generation are competitively the strongest options. For Baltic users (LV, LT, EE) Divly is a good secondary choice, although Koinly's integration catalogue remains larger.

On price - the one-off payment model (Essential from €39, Peace of Mind from €99, Full Service from €499) is radically different from subscription competitors. Over longer periods (3+ years with steady transaction volume) Divly can be cheaper than competitors. The manual Expert option is unique at this price point.

Realistic pick for a Baltic/Nordic user:

Remember: Divly will never request your card details by phone or email. All payment flows go through the secure Divly portal (divly.com). If someone writes from «Divly» asking for urgent payment or your API keys - it's a scam. Block and report.

Related: full Divly profile in the Norriwire catalogue · Koinly deep dive · How to declare crypto in Latvia 2026 · Coinmotion review

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Review prepared 27 May 2026. Divly has been a Norriwire affiliate partner since 3 May 2026 - this is openly disclosed, and every claim in this article is verified against public sources (Tracxn, Crunchbase, Pitchbook, Divly's official site, public Trustpilot reviews). Norriwire receives a commission on users who sign up via the affiliate link, but that does not affect the review's independence - we write honestly about both strengths and weaknesses. Pricing and features may change - check current terms at divly.com/en/pricing before paying. This is not tax advice - in complex cases consult a certified tax advisor or accountant in your jurisdiction.

Sources

• Divly official website
• Divly pricing
• Divly - Tracxn company profile
• Divly - Crunchbase profile
• Divly 2025 Company Profile - PitchBook
• Carl Gärdsell - Stockholm School of Economics graduate profile
• Ruben Rehn - IQ.wiki
• Swedish fintech Divly raises $400K pre-seed - ArcticStartup