Convendum adds strategic investment from Wallenstam

Sweden Investments 10 October 2018
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Convendum, a Stockholm, Sweden-based company managing coworking centers in Stockholm and Gothenburg, announced in a press release that it signed an investment agreement totalling SEK 55M ($6.2M) led by property company Wallenstam.

Wallenstam provided a total capital of SEK 45M for 11.16% in the company, and was joined by Knutsson Holding, which contributed with SEK 10M.

Following the acquisition of shares, Wallenstam becomes the third largest owner in the company

Convendum was founded in 2015 by Håkan Jeppsson and manages nine office spaces in Stockholm and one in Gothenburg. The company is not profitable and recorded SEK 52.7M ($5.8M) in sales for the last fiscal year.

In 2016, Convendum raised SEK 10M from five Swedish angel investors - Ash Pournouri, Per Sundin, Staffan Holm, Kerim Kaskal, and Olle Rex.