Participated · Series B · Dec 2024

Mynt is a Stockholm-founded (2018) SaaS fintech that issues corporate cards and integrates with ERP and accounting systems to automate reconciliation and reduce finance admin time. The platform offers auto-reconciliation and spending insights to help businesses streamline bookkeeping. Mynt currently serves over 16,000 business customers and says its expansion plan will cover all Nordic markets in 2025, targeting more than 12,000 SMEs. The company emphasizes simplifying client onboarding and accelerating go-to-market timelines through tighter integrations with partners. Mynt has deepened a commercial relationship with Visa that will broaden its reach across Europe by making Mynt a Visa reseller partner. The partnership is positioned to help Visa resell Mynt’s SaaS directly to issuers and better address the underserved SMB market. Quotations from Visa and Mynt leadership highlight the investment as a vote of confidence in Mynt’s technology and growth potential. Mynt provides corporate credit cards and spend-management software, offering issuing capabilities and integrations with accounting systems. Its Mynt Platform is a spend management-as-a-service product designed for banks, ERPs, and fleet and mobility companies to enable proactive spend management and corporate card issuing. The company’s customer base is largely Nordic SMEs, and partners such as Fortnox and Accountor are rolling out card solutions to customers. Mynt expanded its customer base from 3,000 to 12,000 SMEs over the past year and reached month-over-month profitability in September. With the new capital, Mynt plans to expand into the UK and Central Europe, broaden its product offering, and scale its embedded finance and platform capabilities.

Participated · Equity · Aug 2022

Billogram offers a SaaS platform for invoice distribution, payments, and reconciliation aimed at improving end-customer experiences. Led by CEO Jonas Suijkerbuijk, the platform serves enterprise clients across telecom, energy, parking, finance and security industries. Over the past two years the company has experienced record growth in the Swedish market and expanded into several European markets. Billogram intends to use new funding to further boost its growth initiatives in Europe, with a specific focus on the DACH region. The company will work in close partnership with Swisscom Ventures to accelerate further growth. It recently raised €15m to support these expansion efforts. Billogram provides a platform for third parties to build and handle complex recurring payments and invoicing workflows, including variable fees and multi-service billing. The company began working with SMBs in 2011 and later pivoted to serve larger enterprises, which today comprise the majority of its business. Billogram reports strong commercial traction: signed deals rose 300% in 2020, and the first half of 2021 grew a further 50% on top of that. Its customers include utilities and broadband firms such as Skanska Energi, Ownit, and healthcare company Kry, with additional clients under NDA. Billogram has partnered with Stripe (which is not an investor) and faces competition from specialized billing providers and incumbents in invoicing and collections. Future plans center on European expansion and building more tools to improve invoicing, payments, and customer-service experiences rather than moving into debt collection.

Participated · Equity · May 2022

Budbee is a Stockholm-based logtech startup founded in 2016 that focuses on sustainable, customer-centric last-mile delivery. Its core product is a delivery platform and app that lets customers schedule deliveries and tailor driver arrival alerts. The company serves over 35 million people across Sweden, the Netherlands, Belgium, Denmark and Finland, with more than 10 million unique consumers and thousands of e-commerce customers including ASOS, Zalando, Inditex and H&M. Budbee reports nearly 5,000 signed parcel locker locations and says it has become one of Europe’s largest box networks. The business raised SEK 400M (approximately €38.15M) in its latest financing at a valuation above SEK 7.3B (approximately €696.33M) and plans to use funds to accelerate growth. It has also launched an employee investment programme to broaden ownership and is securing increased bank credit to finance parcel locker investments. Budbee is a Stockholm, Sweden-based logtech startup that offers an app-driven last-mile delivery service allowing customers to control delivery timing and driver alerts. Via its app, customers can specify when they want parcels delivered and how drivers should notify them upon arrival. The company serves more than 25 million people across Sweden, the Netherlands, Denmark, and Finland and has over 200 employees. Its services are used by hundreds of large retailers including ASOS, Zalando and H&M. Budbee plans to use the new funding for international expansion and to invest in technology and processes to further enhance sustainability and customer experience. To date the company has raised €92M in total funding, including the recent €52M round. Budbee is a Stockholm-based technology company that operates a modern last-mile logistics service for e-commerce, which it calls Logtech. Led by CEO Fredrik Hamilton, the company launched in 2016 by introducing home deliveries. Today it offers services to more than 6.5 million people in Stockholm, Gothenburg, Malmö, Helsinki, and Copenhagen. Budbee raised €4.8M in funding in a round that valued it at almost €100M, with backers including the H&M Group and Kinnevik. The company intends to use the funds to expand into the Netherlands and to continue expanding its business reach in Europe. Budbee operates an online marketplace that connects distribution companies and companies that need to deliver items to consumers without relying on a proprietary fleet or drivers. Led by CEO Fredrik Hamilton, the company is based in Stockholm, Sweden. The startup will use the newly raised funds to hire new people, improve its technology and expand operations. The financing indicates a focus on scaling operational capacity and product development. No operating metrics or revenue figures were disclosed in the article.

Led · Equity · Dec 2021

Volumental offers a fully integrated suite of 3D scanning and data tools that optimize fit by combining retail scanning, mobile scanning, personalized recommendations, and digital marketing tools. Its solutions are leveraged by nearly 100 leading brands and retailers and deployed across mobile devices and in more than 3,000 retail stores globally. Customers include Bauer, Hoka, Canada Goose, Red Wing, The Athlete’s Foot, Fleet Feet, and New Balance. The company is led by a team of PhD-level engineers, data scientists, UX researchers, and retail experts focused on delivering accurate fitting recommendations using 3D scanning and AI. Volumental reports that customers see increased foot traffic, better sales conversions, larger basket sizes, and decreased returns. Following its recent $13 million minority equity raise, the company plans to expand global sales, marketing, and product development, scale onboarding, and hire sales, marketing, computer vision, and AI talent. Volumental provides cloud-based software that uses 3D depth cameras to produce accurate scans of the human body, enabling creation of products customized to individual bodies. Proofs of concept are underway in orthotics and e-commerce, and the company has a project with Intel using 3D depth-sensing laptops to fit shoes (demoed at the Intel Developer Forum on September 10). The company plans to use the newly raised funds to grow the team and launch its first products and to expand into more industries and geographies. It has a team of 16 people, including four PhD-level computer vision researchers and staff with research experience at NASA, Google, Cambridge, Oxford and Stanford. Early customers include companies in Europe and Silicon Valley; Volumental intends to continue working with them to further develop the technology. The company is led by CEO Caroline Walerud and raised $3M in funding.

Participated · Equity · Feb 2019

Dirac develops patented digital audio optimization technology used across mobile, gaming, VR/AR, headphones, streaming, automotive, and residential and commercial AV. Led by CEO Peter Friedrichsen, the company licenses its sound-solution technology to OEMs and brands including Rolls-Royce, Volvo, Polestar, BMW, BYD, Harman, Datasat, NAD, ASUS and OPPO. Over the past 12 months Dirac experienced marked success across home audio, pro audio, automotive, headphone, mobile and streaming channels, signing OEM deals with Onkyo, Pioneer, Philips, Hyundai, Volvo, Polestar, BYD, Klipsch and ASUS. It has also developed new sales channels by working directly with semiconductor and middleware companies such as NXP, Analog Devices (ADI), and CRI Middleware to integrate audio into chipsets and platforms. The company has offices in Shenzhen, Beijing and Shanghai, an R&D facility in Copenhagen, and representation in Germany, Japan, Korea, Taiwan and the USA. Dirac raised 150 MSEK (USD 17.73M) to accelerate global growth and was valued at just under 1,200 MSEK (approximately USD 142.2M). Dirac develops patented digital audio signal processing solutions and a suite of products to optimize sound across devices and environments. The company recently launched a headphone technology and mobile app that automatically enhances the performance of connected headphones. Its technology is applied across mobile, gaming, VR/AR, headphones, automotive, residential and commercial AV. Dirac’s sound solutions are used by brands including BMW, Datasat, Harman, NAD, OnePlus, OPPO, Rolls Royce, Volvo and Xiaomi, and by music professionals and producers. The company intends to use the new funding to further evolve the capabilities of its headphone technology and app and to expand its ability to create intelligent audio solutions across devices and content. Dirac is led by CEO Mathias Johansson and maintains headquarters in Uppsala, Sweden, with offices in Shenzhen, Beijing and Shanghai and an R&D facility in Copenhagen. Dirac builds sophisticated digital signal processing and audio software used for capture through playback across a range of device sizes and form factors. Its platform is licensed by manufacturers such as BMW, OnePlus, Rolls-Royce, Volvo and Xiaomi. CEO Mathias Johansson says the company focuses on digitizing sound systems to create more intelligent and adaptive audio processing solutions. Dirac plans to advance those capabilities to establish new standards in audio playback and capture across applications. The company recently appointed former Harman International executive Armin Prommersberger as CTO and opened a Copenhagen Research Development Center. Management also highlighted that emerging 5G networks are expected to enable new use cases for audio technologies.