Hiveonline closes DKK 5.9M in seed investment from two Swedish angel investors.

Denmark Sweden Investments 13 November 2017
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Hiveonline, a Copenhagen, Denmark-based startup working on a SAAS platform for small businesses, announced closing a DKK 5.94M ($935k) investment round.

The deal, which values the company at DKK 29M ($4.6M), is supoorted by backers including local Swedish angel investors Torbjörn Nilsson and Håkan Birging. The money will be used to open an office in Stockholm, further develop the product and recruit more people to grow the business.

Hiveonline, founded in 2016 by CEO Sofie Blakstad, developed a service that helps small businesses manage transactions and agreements, by providing frictionless financial administration via an incorruptible trust network, which uses blockchain technology. The company has four employees and works with another ten people on a consultancy basis.