Urb-It converts debt into a SEK 18M investment equity.

Urb-it, a Stockholm, Swedend-based company which offers an e-commerce delivery service, has added an additional SEK 18M ($2M) in equity investment. The deal involves converting a part of a SEK 46M loan provided by existing investor Lage Jonasson at the valuation date the loan was made at, which is lower than the present one.

Urb-it, founded in 2014 by CEO Mats Forsberg, provides an independent delivery service to retail organisations.

At the beginning of 2017 the company raised SEK 30M in a convertible bond and announced that intends to list on the Swedish Stock Exchange by the beginning of the summer. Urb-it has raised about $16M from outside investors.