Swedish investment firm Creades has invested SEK102m in FinTech firm Findity to become the company’s largest owner.
Creades invests in listed and private companies and other current holdings include Avanza, Instabox, Apotea and Mentimeter.
Findity claims that more than 30,000 customers use Findity’s products to manage expense claims, entertainment, mileage and per diem. The firm also offers its product as a white label, where partners such as American Express use its tech for their own expense management solutions.
Findity has grown by more than 40% annually in the last few years. With a strong position in the Swedish market, Findity is currently expanding to new markets. The product is available in Sweden, Norway, Finland, Denmark, the United Kingdom, Germany, Spain and USA.
Creades CEO John Hedberg said, “We have followed Findity’s development over some time and see great potential in the company. We are particularly impressed by their unique offering and go-to-market model, helping both organizations, finance departments and end customers. We’re excited to now be a part of their exciting growth journey and support the company in its quest for further international expansion.”
Findity CEO Patrick Olsson added, “We wish Creades a warm welcome to Findity. We are happy to have them onboard and looking forward to working with such a reputable company. Their extensive experience makes a great partner to continue to execute our international expansion and continued growth.”
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