Fortnox acquires Capcito - valued at almost half a billion SEK
The accounting platform Fortnox has acquired 78 percent of the shares in the fintech start-up Capcito.
In conjunction with the transaction, Capcito was valued at 410 million SEK.
"The acquisition is part of my long-term vision to help entrepreneurs with more stable cash flows. When we connect our customer base to the Monto platform, we will have the opportunity to give small and medium-sized companies the same opportunities that only larger companies have access to today ", says Olof Hallrup, Chairman of the Board of Fortnox.
Capcito is a challenger in digital loans for small and medium-sized companies.
The acquisition also includes Capcito's spin-off subsidiary Monto, a SaaS solution for automated lending that is, as an example, licensed to major banks.
Capcito's CEO Michael Hansen and Chief Technology Officer Henrik Dyberg will remain partners in the company and will continue to work after the deal.
Read more here (Swedish)