Bokio raises $8 million, merges operations with Red Flag

Bokio, a Gothenburg, Sweden-based company providing digital accounting services, secured a capital investment round totalling SEK 80M ($8M)

The money was raised for financing a merger operation with Stockholm-based Red Flag which provides a similar range of services. Contributors in the round are shareholders in both companies, including Creandum, Svea Ekonomi, Anders Ström or Staffan Persson.

Bokio, founded in 2014 by CEO Viktor Stensson, has developed a software tool that allows getting automated financial accounting done via a mobile app.

Prior to this round, the company raised $8 million, with the last round at the end of 2019.