Howwe Technologies announces SEK 51 million equity raise to support sales growth and international expansion
Howwe Technologies, a SaaS company delivering a technology platform for accelerating strategic initiatives within large organizations, announced today that the company has completed an equity raise of SEK 51 million. Lead investors included Creades, Swedbank Robur and Consensus Småbolag.
The funds raised in this financing will enable Reforce to accelerate sales growth, expand its geographical reach and further develop ReExecute, its proprietary software.
– We are very pleased to welcome these recognized investors to be part of our exciting journey. With these funds secured, we can now focus on continued growth and developing our customer offering even more. Lately, large companies have realized the value of aligning the entire organization when measuring progress on proactive initiatives and our software can be vital in achieving this. We are now in a position where we can fully benefit from this increased awareness amongst our potential customers, says Per Forslund, President, Reforce.
– Speed and precision in strategy execution is a key distinguishing factor between good and great companies. Even more so in today’s rapidly changing competitive environment. We believe Reforce is well-positioned to become a global leader within its field’, says John Hedberg, CEO Creades.
– Tools that help accelerate and measure strategy execution are extremely important to business leaders that want to ensure a good ROI. We believe the tools from Reforce stand out in this area, and we are very excited to support the company and its entrepreneurs, says Henrik Carlman and Kristofer Barrett managers of the Fokus fund at Swedbank Robur.
The company is targeting an IPO during 2020.
Erik Penser Bank acted as financial advisor and sole book-runner in the transaction. Synch Law acted as a legal advisor.
About Howwe Technologies (previously Reforce International)
Howwe Technologies is a Stockholm-based international SaaS-company targeting large organizations. Its software, Howwe, is a proactive tool that helps large organizations to execute better and faster on their strategies by visualizing, steering and measuring the business and strategy acceleration in real-time and accurately throughout the entire organization. By providing the tools and ability to be business agile, Howwe helps its customers to increase revenues and profits.
About Creades
Creades is an investment company investing in businesses that have the potential for revaluation and value creation. Creades act as an engaged owner, mainly in smaller and mid-sized listed and unlisted companies in Sweden. Example of listed investments: Avanza, Lindab and Addnode. Example of unlisted investments: Apotea, Inet, Kaching, Röhnisch and Tink.
About Swedbank Robur
Swedbank Robur is of Scandinavia’s largest mutual fund managers with over SEK 1tn of assets under management (AUM) that serves approximately 3.1MM customers in Sweden and 1.1MM in the Baltic Region. Altogether there are approximately 80 investment funds under the Swedbank Robur brand covering all major regions, sectors and asset classes.
About Consensus Småbolag
Consensus Småbolag is an actively managed equity fund that invests in small and medium-sized companies in the Nordic countries. The fund has the ability to take large exposures in individual companies, but is otherwise diversified in its direction and is not concentrated to any specific industry. The fund has an investment horizon of 3-5 years and a concentrated portfolio of normally 15-20 companies, where the three largest companies can make up 50% of the total fund. The fund invests in smaller companies with a clear focus on growth with profitability. The initial investment in a company often happens at an early stage before the company is discovered by the market. In 2019, the fund’s value has risen by 34,9%.
Howwe Technologies AB (publ) is a Stockholm-based international SaaS company targeting larger organizations. Its SaaS application Howwe® is a proactive tool that helps them to execute their strategies better and faster by visualizing, steering, and measuring the business and strategy acceleration in real-time throughout the entire organization. Howwe helps its customers to create provable and measurable financial results.
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