Solitwork receives million-dollar investment from HEARTLAND A/S

Solitwork receives million-dollar investment for international growth HEARTLAND, through its investment company BRIGHTFOLK, has invested in the Danish SaaS company, Solitwork, with a view to accelerate the international expansion of the company's platform for Digital Finance.

Solitwork has specialized in offering software solutions that digitize the financial function of companies. Solitwork has enjoyed great success and has ambitions for international expansion as part of a clear strategy to multiply the top line towards 2025. With the investment, this strategy can
be accelerated, which also involves hiring a number of new employees, in particular Business Analysts and Data Scientists.

Esben Duedahl, CEO and Founder of Solitwork, says: "It is obvious that when one of Denmark's largest and most successful companies knocks on the door and wants to spend time and energy helping Solitwork, I become happy and proud. We can learn, be inspired and motivated by the people
of HEARTLAND and by the many companies that HEARTLAND has in its portfolio. This is an important day for the employees of Solitwork and a great recognition. With the investment, we expect to grow the company several times in a few years and realize our very high ambitions"

Solitwork has for several years worked closely with HEARTLAND on the Group's Digital Finance, consolidation of the Group's financial statements and support of performance measurement. A collaboration with which both parties have been very satisfied.

Lise Kaae, CEO of HEARTLAND, says: "We have worked closely with Solitwork for many years and have been impressed by their platform and the team that manage the business. We have a desire to invest long-term in the right people, and therefore our in-depth knowledge of Solitwork has been essential for the investment. We look forward to joining a journey of growth and internationalization"

Esben Duedahl
CEO
+45 21444721
edu@solitwork.com

About HEARTLAND
HEARTLAND owns, among other companies, Bestseller A/S. The majority shareholder is Anders Holch Povlsen. HEARTLAND strives to make a positive impact on the world we live in. The HEARTLAND team honors its entrepreneurial origins and invests in areas such as fashion, tech,
sustainability, renewables, nature conservation and real estate.

About Solitwork
Solitwork was founded in 2002. In 2020, the company had a turnover of almost DKK 36 million. The company provides a Software-as-a-Service platform for Digital Finance that includes AFC Consolidation, AFC Finance, AFC Data &Analytics, AFC Planning and AFC Advanced Analytics. The company is headquartered in Aarhus, also having offices in Vejle, Copenhagen and Hamburg. The company has approx. 50 employees.

For more information: solitwork.com