May 22, 2020

Food delivery service, Wolt, raise EUR 100M to prepare for an ‘uncertain future’ (Bloomberg)

The Helsinki-based food delivery service’s latest funding round was raised from current investors like ICONIQ Capital, Highland Europe, 83North and EQT Ventures. The company also added new investor Goldman Sachs Growth Equity to their cap table.

Wolt aims to use the proceeds to boost growth, marketing and hiring amidst the coronavirus outbreak.

According to a report from last year (Mergermarket), the company also has plans to list and mentions two options for its future; Listing or sale. Miki Kuusi, co-founder, is cited saying that the company’s founders aim for it to list as Europe needs large tech companies like Wolt.

Founded in 2014, Wolt, with 1,000 employees, serves five million customers across 22 countries and 80 cities.


Danish Medtech company, Cathvision, receives an EUR 13.4M investment. Pre-money valuation of EUR 6.7M (Finans)

The round was led by the Belgian billionaire Marc Nolet de Brauwere – currently appointed to the Board of Directors at iStar Medical. Existing investors also participated in the round.

The funding will be used to apply for regulatory approval of heart equipment in the US and Europe. Cathvision’s technology amplifies the signals in the heart which makes it easier to treat atrial fibrillation (heart flicker). According to the newspaper, the company spends around 80% of their time developing their software.

Cathvision’s main competitors are currently the four US giants; Boston Scientific, GE Healthcare, Abbott, and Johnson & Johnson. The company describes their market size as potentially 20 million patients in the US and Europe alone. However, there are only around 500.000 procedures being completed each year, as the current methods is both expensive and complicated.


Templafy will use part of the proceeds from its Series C in April to acquire Danish B2B sales enablement platform, Napp (Prnewswire)

The Denmark-based enterprise document creation and automation platform will acquire the company to extend its offerings and allows it to accelerate product development.

The funding for the deal comes in part from Templafy’s EUR 23M Series C that was raised in late-April 2020. You can read more details about that round on our website:


Recently acquired Plint’s owner, Priveq, will consider add-on acquisitions (Mergermarket)

Louise Nilsson, CEO of Priveq, told Mergermarket they are looking to make add-on acquisitions to supplement the Swedish language services and media technology company’s organic growth.

The potential target should be ale to provide a faster growth route, a new geography or expansion of an existing one, Nilsson said. The UK could be an interesting area geographically, or expansion in the US, where Plint has an office, she added. The company is also keen to increase its share of recurring revenue of total sales as well as deepening current verticals and exploring new ones.

Priveq acquired a 55% stake in Plint for an undisclosed sum earlier this month. View more details about the deal on our website:


Norwegian health-tech company, Tellu IoT, to merge with telco Telenor’s e-health business (Mergermarket)

The deal values Tellu at EUR 17.7M. The article reported, citing Tellu’s Managing Director Ole Christian Olsson, that Tellu was originally looking to raise capital to help fund foreign expansion and product development but has instead ended in a merger.

Norwegian Telenor will hold 40% of the merged entity and 18 Telenor staff will move to the new company which will have 34 employees.

The combined company will have a turnover of around EUR 7.3m.