News October 25, 2024: Wint, Soundtrack, RENASENS, Sib Solutions, SALUTO, Enrouteq, PryvX, GOALS, 19 new Swedish tech startups, and more

Here are today's news from Sweden's startup and tech sector, exclusively for you as subscriber of Swedish Tech News PRO.

Mergers & acquisitions

• Norvestor, Norway-headquartered PE firm, is acquiring a majority of Wint, Gothenburg-based SaaS accounting platform for micro and small businesses. The price was not disclosed, though reportedly, Wint is being valued much higher in this transaction, than back in 2021, when the company raised its most recent funding at a post-money valuation of SEK184M. Wint was founded in 2011 by Björn Elfgren, and has raised around SEK115M in total funding from investors such as Neudi & Co, Per Josefsson, Alexander Hars, Lena Apler, and Bengt Nilsson. All outside shareholders are exiting in this deal. Wint currently has an ARR of SEK140M, and reached positive cash EBITDA earlier in the year. Following the transaction, Wint's current CEO and leadership group will retain a minority stake in the company (English, Swedish / Di Digital paywall).
• The investment company MUSIC and a number of "prominent international music industry investors" bought existing shares in Stockholm-based Soundtrack (formerly Soundtrack Your Brand) for around $50M. The deal also includes a capital injection of $10M, and conversion of convertible notes to equity worth an additional $10M. In the transaction, the Swedish music licensing service for businesses was reportedly valued at close to $200M. Soundtrack, founded in 2013 by Ola Sars, Joel Brosjö, Andreas Liffgarden, and Spotify, aims for an ARR of close to SEK400M (€35M, $38M) by the end of the year (Swedish / Breakit paywall).

Funding news