Gothenburg 2nd May, 2017: Pagero Group, a leader in cloud based technology for communication of business documents within the purchase-to-pay, order-to-cash and logistic-to-pay (TMS) processes, partners with Nordic private equity firm Summa Equity with 4,5 TMSEK in their first fund.
The investment results in a rights issue of 100 MSEK and Pagero Group will use the capital infusion to further finance the ongoing expansion in Europe and North America.
“The confidence that Summa Equity show in Pagero is a clear sign that our choice of strategy and business model is right. Thanks to Summa Equity’s funding and commitment to Pagero, we can continue with our growth strategy and bring our services to a market largely driven by legislation with high demands on compliance. Our goal is to be the top of mind player on the market, enabling companies all over the globe to streamline their business processes with accurate data and a 100% digital business document flow”, says Bengt Nilsson, CEO, Pagero Group.
“In our thorough search for the next global trend, we have met a lot of companies with interesting applications for business support within procurement and order-to-cash. However, most of them where either built on a closed network or traditional EDI connections. We believe in Pagero’s philosophy to offer an open platform, connecting businesses with all their customers and suppliers in an easy and cost-efficient way that allows correct and fast decision-making in a global and competitive world”, says Christian Melby, Partner, Summa Equity.
Bengt Nilsson, CEO, Pagero Group, comments on Summa Equity’s investment and Pagero’s further expansion plans.
For more information, please contact:
CEO, Pagero Group
+46-708 11 22 11
VP Marketing, Pagero Group
+46-704 82 32 47
Partner, Summa Equity
+47-958 13 277
About Pagero Group:
Pagero Group develops and markets Pagero Online, a cloud based network platform for communication of business documents within the purchase-to-pay, order-to-cash and logistic-to-pay (TMS) processes. Pagero Online is independent of ERP system and suits companies of all sizes and within all industries. Our value-added services enable our customers to achieve accurate data and obtain a 100% digital inbound and outbound business document flow, resulting in minimal error handling, compliance with local VAT regulation and control over company spend. Pagero Online is also interconnected with an extensive number of other networks for global reach. Pagero Group has over 190 employees with headquarter in Gothenburg, Sweden and offices in Stockholm, Oslo, Copenhagen, Helsinki, London, Dublin, Amsterdam, Rome, Madrid, Paris, Istanbul and Dubai. For more information, please visit www.pagero.com
About Summa Equity:
Summa Equity was founded in 2016 by an experienced group of people that have a long track record from investing in successful companies. Summa Equity’s main focus is investing in growing companies with significant business relations in the Nordic region to assist in accelerating growth through add-on acquisitions, internationalisation, technology development or organisational enhancements. The firm has offices in Stockholm and Oslo. For more information, please visit www.summaequity.com