Participated · Equity · Sep 2019

Capcito provides an automated digital platform offering factoring, invoice discounting and business loans to SMEs. Its credit assessment is automated and calculates available credit instantly using real-time data from invoice or accounting software. The platform has connected about 6,000 businesses, giving them access to pre-approved credit facilities. Approximately €80m has been paid out to businesses through the automated financing platform. The company plans to use new funding to drive international expansion and further sharpen its digital product. Capcito was founded to streamline SME access to working capital through automation and integrations with accounting tools.

Participated · Equity · Aug 2018

Apica offers the Ascent platform, which provides active observability, automated root cause analysis, and advanced data management to help enterprises find and resolve complex digital performance issues. The platform delivers a unified view across the entire technology stack to reduce, prevent and resolve outages and lost revenue. Led by CEO Mathias Thomsen, Apica focuses on monitoring and analytics at scale and serves organizations handling large volumes of telemetry. The company recently acquired Circonus, a specialist in monitoring and analytics for high-telemetry environments. Apica plans to integrate Circonus’ IRONdb and Passport products into the Ascent platform to broaden its data and telemetry capabilities. Apica also completed a funding round (amount undisclosed) to support its growth. Apica is a 17-year-old Swedish company that helps organizations test applications using synthetic data across devices, APIs and backend protocols. Its core product uses synthetic datasets that mimic real-world use cases to generate user- and machine-level metadata for logs and other components. With the acquisition of Logiq.ai, Apica is expanding beyond pre-production testing into post-production observability by ingesting and enriching log, APM, network and other data sources. Logiq provides a data fabric and pipeline that automatically sorts and enriches disparate data, enabling visualization and feedback to improve synthetic datasets over time. The acquisition closed last week and added Logiq’s 20 employees to Apica’s 55, bringing headcount to 75; Apica plans to roll out Logiq functionality in Q3. Financially, the company reports $10 million ARR and about 100 customers, including Morgan Stanley, MetLife, Delta Dental, John Deere and ABB, and has raised approximately $46 million to date. Apica Systems is a Sweden-based provider of application performance monitoring and load-testing used by global brands. It offers a “single pane of glass” view into the health of diverse technology infrastructure, from mainframes and factory hardware to APIs, IoT devices, and web applications. The platform lets front-line technology staff configure monitoring for new endpoints without needing skilled engineers, broadening the scope of observable systems. Apica also operates a global network of monitoring nodes that it uses for load-testing. The company is positioned to benefit from ongoing enterprise digital-transformation initiatives. RAC plans to support Apica’s continued expansion across North America and Europe. Apica provides a performance monitoring platform for enterprise customers, available as SaaS, on‑premise and hybrid deployments. Its platform includes global synthetic monitoring, comprehensive scripting and load testing capabilities and integrates with vendors such as AppDynamics, New Relic/Dynatrace and ServiceNow. Apica serves 300+ global brands and lists customers including Scholastic, Klarna, Q2ebanking, Etihad and TV4. The company offers enterprise services such as 24/7 global help‑desk, technical account management, professional services and full‑service load testing. Apica has offices in Stockholm, New York, Los Angeles and London and focuses on ensuring application, API, IoT and mobile performance. The company plans to use new funding to grow product offerings, expand its talent base and increase global market share. Apica provides enterprises with a suite to test and monitor mission-critical business systems, APIs, web and mobile applications, delivering detailed real-time performance, uptime and capacity insights. Its solutions are available as SaaS, on-premise and hybrid deployments. The suite is used by 400+ brands globally, including Scholastic, Klarna, Q2ebanking, Etihad and Sweden’s TV4. Founded in 2005 and led by CEO Carmen Carey, Apica has offices in Stockholm, New York, London and Santa Monica. The company intends to use the new funding to expand its market presence in the U.S. and in European markets outside the Nordics. Apica raised USD $12m to support that expansion.

Participated · Equity · Jan 2018

Coinify provides a virtual currency platform that enables trading and payments for consumers, businesses and institutions. The company was founded in 2014 by CEO Mark Højgaard and is based in Copenhagen, Denmark. Coinify has about 30 employees and has previously raised a $4M Series A. It recently secured an additional $4.8M bridge round to support growth. The company intends to use the capital to expand operations in 2018 and to scale the business in specific regions. A B-round was planned for the beginning of 2018. Coinify develops blockchain currency payment processing and trading services for merchants and consumers, serving global payment service providers, online businesses, physical shops and individuals. The company supports 15 blockchain currencies, including bitcoin, ether and ripple. Led by co-founder and CEO Mark Højgaard, Coinify focuses on extending its payments and trade products. Coinify raised funding to sustain and strengthen its position in Europe. The company plans to use the proceeds to expand its blockchain payment and trade products into Asia. The article does not disclose revenue or other financial metrics beyond the fundraising. Coinify provides consumer buy/sell services and merchant payment processing, offering next-day settlement in euros, dollars and kroner and plugins for BigCommerce, Magento, Shopify and WooCommerce. Consumers enroll with an email address and can buy bitcoin via bank deposits or prepaid methods such as CASHU; merchants can log in via Facebook. The company formed following strategic acquisitions of Bitcoin Nordic's broker business and the merchant services formerly offered by BIPS; Coinify will close the Bitcoin Nordic site while BIPS continues as a separate bitcoin-technology development entity. Coinify announced a "multimillion-dollar" venture investment from Denmark-based SEED Capital (SEED said the amount was "several million DKK"); SEED is supported by the Danish Growth Fund. CEO Hans Henrik Heming, an established entrepreneur and bitcoin advocate, framed the new company and said Coinify plans to launch two additional services in the coming months. The company is focused on growing in Denmark, Norway, Sweden and the UK and aims to expand more broadly across Europe, citing the UK and Germany as significant markets; it faces competition from brokerages such as Safello and Coinbase.

Led · Series A · Jan 2018

Cardlay is a Danish white-label fintech founded in 2016 that delivers white-label card management, expense handling, integrated virtual card, and VAT reclaim services to banks, card issuers and processors. The company positions itself as a strategic partner to banks, card issuers and processors with a comprehensive platform and standard suite of services for commercial payment solutions. Cardlay says the new funding will fuel its next phase of expansion and deepen cooperation with major processing platforms, notably FIS. As part of the financing, Global PayTech Ventures founder and former Mastercard Europe president Javier Perez will join Cardlay's board as vice-chairman to support partnerships and execution. Cardlay secured €8 million in financing from Global PayTech Ventures. No operational metrics (revenue or user figures) were disclosed in the article. Cardlay develops a white-label solution for automated expense management and VAT reclaim services, including receipt and travel-expense integration and an AI robot for automatic VAT reclaim developed by PwC. After three years of heavy investment in its platform, the company has partnered with Eurocard/SEB Kort to integrate its services as a built-in offering to roughly 1 million corporate cards in the Nordic region. The partnership enables Eurocard to offer automated receipt and expense management to corporate customers, addressing manual processes used by more than half of SMEs. Cardlay raised €9 million in new funding from SEB Bank and Seed Capital to accelerate international expansion. Founded in 2016 and based in Copenhagen, Cardlay currently employs 50 people and expects to triple its headcount as it pursues global expansion and additional major agreements. The company positions its technology as a digital layer over banking and credit card systems, allowing issuers to offer new services directly on existing card platforms. Cardlay has developed a management platform for payment cards and expenses targeted at commercial banks. The company positions its platform as a frontend for commercial transactions and integrates with banks to accelerate digitalisation. The Series A will be used to internationalise by broadening partnerships with banks in Europe and North America. Cardlay also plans to further develop features in machine learning and automation. The funding round announced is 30 million DKK (about €4 million) from SEED Capital and SEB Venture Capital alongside other investors. SEED Capital first backed the company in 2016, indicating continued investor support. Cardlay provides a white-label front-end Card Management Platform and Cardholder application for banks to automate corporate account and card management. The platform enables banks to issue, load, and manage payment cards in real time while placing automatic limits and specifying merchant-level spend rules. Built-in services include expense management, VAT retrieval, travel management, financial forecasting, process automation, multi-currency card issuance, and seamless ERP integrations. Cardlay says its software can automate an average of 50% of banks' handling resources, boosting profitability and enabling new digital revenue streams. The company is forming partnerships with top-tier banks to serve as their front-end platform and to capitalize on existing corporate client portfolios. Headquartered in Copenhagen, Denmark, Cardlay employs senior specialists across software engineering, computer science, financial services, and executive management. The company announced a $4 million funding round from private investors alongside the release of its white-label solution.

Led · Equity · Dec 2016

Leasify operates a digital platform for small- and medium-sized companies to analyze, manage and procure leasing agreements. The platform notifies connected businesses when contracts expire to facilitate procurement of new leasing and financing services. It compares products and services from 40 suppliers, banks and financing companies currently connected to the platform. Businesses use the service for free; Leasify receives a commission from suppliers when a contract is signed. Launched in late 2015, the company today serves approximately 1,000 businesses. The company intends to use the new funding to continue digitizing processes, systems and customer acquisition in the Swedish market.