June 19, 2020

Edtech Unicorn, Kahoot!, has closed a private placement of EUR 25M in new equity (Tech.eu)

The funding also included existing shares, with the total round amounting to EUR 80.3M. The company’s latest investment round is currently valued at roughly EUR 1.3b and has raised over EUR 98M to date.

Participating in the round were both CEO Eilert Hanoa and Northzone Ventures – one of its largest investors.

The new capital will be used to expand its online game-based platform, targeting three distinct customer segments: Global organizations, educational institutions, and families. The latter representing a significant percentage of Kahoot!’s customer growth during Covid-19. Also, in the plans according to Tech.eu, are future M&A transactions in the areas of business, education and at home learning.


Stillfront, a Swedish gaming studio, raise EUR 114M via directed share issue (Cision)

The proceeds will be used to further financial strength and add flexibility to the company to be able to act swiftly on potential future acquisitions and growth opportunities.

According to the press release, “the subscription price corresponds to a discount of 1.4% to the closing price of SEK 781 (EUR 74.2m) on 16 June 2020 and a premium of 7.8% versus the volume weighted average price the latest 10 trading days”.

Stillfront is a global gaming studio, aiming to be the market leader in free-to-play games.


4-year-old Finnish Swappie raise EUR 35.8M Series B (Mergermarket)

The Finnish online marketplace for buying and selling refurbished smartphones, closed the round with TESI, alongside previous investors Lifeline Ventures, Reaktor Ventures, and Inventure participating.

The funding will be used to accelerate international expansion and continue its growth trajectory.

According to Tony Nysten, Investment Manager at TESI, “The smartphone market in Europe is worth over €100 billion, but used or refurbished phones currently make up just over 10% of that and only one in four pre-owned phones are currently re-sold”.

To date, Swappie has raised EUR 48M.


Descartes Systems Group acquires Danish shipping software company, Kontainers. Total consideration of EUR 10.7M (ITwatch)

The deal includes an upfront transaction of EUR 5.4M and a two-year earn-out period.

Co-founder and Kontainers CEO Graham Parker will join Descartes as Vice President of sales and digital freight solutions.

The company’s e-commerce platform is aimed at large shipping companies and forwarding agents. Kontainers has previously proclaimed relations with Maersk and logistics companies Toll and Ceva.


Denmark-based Likvido raise EUR 2.5M in Seed Funding from Blackfin Tech and others (Finsmes)

The round was led by BlackFin Tech and joined by several existing investors.

According to the source, the funding will be used to optimize its existing process automation solution and add a prediction engine that utilizes all transaction data to create a transaction-level credit rating.

The company plans to raise a Series A round in about 12 months.


Joliv acquired by Main Capital Partners-backed Alfa (Joliv)

According to Mergermarket, Main Capital paid EUR 6-7M for the company. The source cites Charly Zwemstra, managing partner at the PE company, for the information.

The PE-firm will roll-up Joliv to its existing portfolio company Alfa, a Swedish software company that was acquired in April 2020 for EUR 15-20M, to create a leading e-health player in the Nordic care market. The firm’s combined revenues will be EUR 10M, with a goal to fivefold that figure in four years’ time, partly by making more acquisitions according to the source.