Swedish fintech company Dicopay has raised SEK42m ($4.5m) for its invoicing and payment app for entrepreneurs.
The company, which was founded in 2017, intends to use the money to expand its offering.
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The funding round was led by Schibsted. It was also joined by Resurs Bank and Moore Strategic Ventures.
Schibsted Growth investment manager Dan Ouchterlony was quoted by eu-startups.com as saying: “We really like the way Dicopay helps small business owners. With their solution, companies can focus on doing a good job instead of administration. Entrepreneurs who help entrepreneurs with fintech is something we want to invest in.”
Dicopay CEO Marie Lundberg said: “We are very pleased to welcome new investors and partners to Dicopay. Schibsted, with its strong position in the media and digital services, will be a valuable expansion partner for us when we broaden our marketing and sales channels.
“The choice of Resurs Bank as a partner for our checkout solution gives us the opportunity to further expand our offering and offer a completely unique smart solution for SMEs.
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By GlobalData“We are also looking forward to working with Moore Strategic Ventures and taking advantage of their valuable financial expertise and insights.”
Resurs Bank CCO Anna Nauclèr said: “For us, the partnership with Dicopay makes it possible to step into the small business segment, a target group that we have not previously targeted our payment solutions but where we see that Resurs Checkout and Dicopay together can create a strong customer offering.”
Law firm Baker McKenzie acted as legal advisor in the transaction. Its team comprised Carl Svernlöv, Ian Gulam and Carl Isaksson.
