UpUp raises SEK 5 million for customer and employee microgifting solution

UpUp, a Stockholm-based mobile B2B customer and employee microgifting solution, has raised SEK 5 million (€430K, $470K) in a funding round from Almi Invest and Gorilla Capital.

The company was founded by Peter Axelsson and Fredrik Ahnmark back in 2010. But even though it's been around for a while, this appears to be the first "serious" funding.

For 2023, UpUp reported net revenue of SEK 3.5 million (up 21% YoY), and a break-even result.