Dinero – Acquired by Visma

Tofte & Company – Dinero sold to Visma

We are proud and happy to announce that Dinero, the most intuitive accounting program in the World, has been acquired by Visma, which is recognized as the leading accounting software provider in the Nordics.

Dinero has from the offset been building their product for the customer, aiming at making life easier for the many entrepreneurs eager to spend time on developing their business rather than doing administrative tasks. The company was established in 2012 and has of today more than 110,000 registered users.

“It has been a big pleasure working with Tofte & Company. They have relentlessly been working on the process and delivered the deal we wanted. I am extremely impressed by their deal making skills,” says Martin Thorborg, CEO of Dinero.

“I am delighted to have had the opportunity to work with Dinero. They have build a world-class product and you immediately sense their uncompromising prioritization of the needs of their customers as they develop business and product. I am deeply impressed by the work of Martin and his team,” says Thomas Tofte, Managing Partner of Tofte & Company.

The acquisition is part of the strategy of Visma to deliver the best accounting and business solutions to all small and medium-sized businesses in Denmark. “Dinero has been through an impressive development and has made a fantastic accounting program that makes it extremely easy for smaller businesses to handle their bookkeeping,” says Mads Rebsdorf Director of Visma Software in Denmark.

About Dinero:

Dinero is an online accounting program enabling users without prior qualifications to do the bookkeeping themselves. Since formation in 2012 Dinero has been experiencing a very aggressive growth and high user satisfaction. The company was founded by serial entrepreneur Martin Thorborg and David Andersen.

AirHelp – Private Placement of 12 mUSD from Khosla Ventures and YC Continuation Fund

Tofte & Company – Airhelp closes 12 mUSD series A financing.

We are proud and happy to announce that Airhelp, the world-leading Air Passenger Rights company, has raised 12 MUSD in its series A funding from Khosla Ventures, YC Continuation Fund, Naval Ravikant, Evan Williams, Jimmy Maymann, U-Start and Vilhelm Hahn-Petersen.

The financing will help Airhelp accelerate its growth via investment in claims handling capabilities to harvest on the massive inbound claims intake the company is experiencing. The funding will also accelerate efforts in the various partner relations the company has entered into.

“The collaboration with Tofte & Company has been very satisfactory and a position is now reached where Airhelp can further accelerate its development,” says Henrik Zillmer, CEO of Airhelp. “With the series A investment we not only managed to secure funds for further growth but also important knowledge and network for our further expansion. It has been a pleasure working with Tofte & Co who have continuously impressed me with their ability to understand our business as well as their persistent support and impressive deal making skills to secure the funding.”

“I am very impressed by the traction and positioning Airhelp has obtained within their space. Henrik has persistently been pursuing his goal of creating the world´s leading Air Passenger Rights company and has in his journey shown remarkable execution skills,” says Thomas Tofte. “ I have never experienced a company with such an aggressive continuous growth – even after having reached scale and I can not wait to follow the journey as Airhelp continues to grow fueled by an amazing management team and a tier one investor group behind them”

 About Airhelp:
AirHelp is a Y-Combinator backed startup that helps travellers assert their legal rights and file for the flight disruption compensation they are rightfully entitled to under EU law.

Since its founding in 2013, Airhelp has helped over 900,000 passengers for a total of $85 million in flight disruption compensation for travelers worldwide. This makes AirHelp the world’s biggest company in its category.

AirHelp is live in 19 countries, offers support in 13 languages and employs 230 AirHelpers globally.

For more information visit www.airhelp.com

L.A. Media – Sell side

L.A. Media, the second to none premium luxury magazine publisher in Denmark, has been sold by Tofte & Company

“I have considered selling my business for a couple of years, but selling a small business is a complex venture that involves several considerations. Enlisting a broker, accountant and an attorney as you proceed with your daily operations can be quite a job. The business sale will also require much of your time and probably one of the main reasons why many founders never get to that point. Tofte & Company helped me build a solid plan and made the negotiations a success. I am very pleased with the journey and will continue to work with them, but now as an investor,” says Christian Friis Johansen, Founder at L. A. Media.

L. A. Media is such an interesting and well managed company with a portfolio of profitable magazines. On top of the traditional magazine business L. A. Media has unlocked a considerable growth potential through launch of its digital strategy this year. We saw the strong potential in this combination and found the right buyer,” says Sasja Dalgaard, Partner at Tofte & Company.

CardLab – Series A Financing of 5.5 mEUR from Scentan Ventures

We are proud and happy to announce that CardLab, the world-leading supplier of technology for powered smart cards, has raised 5.5 mEUR in its series A funding from Singapore based Scentan Ventures – a team of internet entrepreneurs, digital and finance veterans.

The financing will help CardLab accelerate its growth via investment in production capabilities to harvest on the massive inbound opportunities the company has experienced. The funding will also accelerate efforts in Japan, where the new partnership with Scentan Ventures will bring local expertise and network to bring the products of CardLab to the market.

“The collaboration with Tofte & Company has been very satisfactory and a position is now reached where CardLab can sign binding delivery contracts with more customers for development projects and larger production orders,” says Frank Sandeløv, CEO of CardLab.

“With the investment from Scentan we not only managed to secure funds for further growth but also important knowledge and network for our Asian expansion. It has been a pleasure working with Tofte & Company who have continuously impressed me with their ability to understand our business as well as persistent support in our efforts and their impressive deal making skills to secure the funding.”

“I am very impressed by the traction and positioning CardLab has obtained with their unique technology for producing convenient and secure smart cards,” says Thomas Tofte. “I have never experienced a company with such a massive inbound interest before and can not wait to follow the journey as CardLab continues to harvest on this pipeline with the expanded opportunities following the funding”.

About CardLab:

CardLab is a Danish company specialized in making ultrathin electronics for powered smart cards and thereby develop highly advanced plastic cards containing a full computer in the card. CardLab has created particularly strong security features to plastic cards basically eliminating credit card fraud by use of its unique technology within biometric fingerprint scan, dynamic magnetic stripes, Snap Switch, Jammer Switch etc. CardLab is selling both complete solutions and OEM solutions adapted to the customers’ needs.

CardLab plans to hire further employees during 2016 to be able to cope with the rising demand on CardLab products. Please see more on www.cardlab.com.

Tradeshift – Secondary Placement of 5 mUSD

5 million USD is the amount Tofte & Company managed to raise in a secondary placement for TradeShift in February 2014.

We are proud to be part of this transaction, and we are proud to be the preferred transaction advisory to TradeShift.

ItemBase – Private Placement of 4 mUSD

ItemBase receives 4 million USD in private placement. 

Tofte & Company has managed to raise, and be involved in, the transaction of a private placement of 4 million USD for ItemBase in December 2014.

ItemBase is experiencing substantial growth and we are very excited to see where ItemBase will be just a few years from now! The scalability and value-adding nature of this enterprise looks very promising going forward. We are proud to be there during their entire journey.

Tradeshift – Private Placement of 75 mUSD led by Singapore’s Scentan Ventures

75 million USD is the amount Tofte & Company managed to raise in a private placement for TradeShift in February 2014.

We are proud to be part of this transaction, and we are proud to be the preferred transaction advisory to TradeShift.

BioPorto Diagnostics – Public Rights Issue of 12 mUSD

Public Rights Issue of 12 million USD to BioPorto Diagnostics.

Tofte & Company has been involved in this transaction from day one, and we are proud to say so!

BioPorto Diagnostics A/S is an in-vitro diagnostics company that provides healthcare professionals in clinical and research settings a range of diagnostic tests and antibodies. Their pioneering product portfolio includes assays for underserved disease states such as NGAL for acute kidney injury. They sell our products in more than 80 countries through diverse sales channels and partners. BioPorto has its headquarters in Copenhagen, Denmark and is listed on the NASDAQ OMX Copenhagen stock exchange.