Cool Company purchased competitor Firmify.

Sweden 29 October 2018

Cool Company, a Stockholm, Sweden-based company providing a digital platform aimed to help freelancers, acquired Firmify, a smaller competitor from Stockholm.

Financial details of the deal remain undisclosed.

Firmify, led by CEO Peter Roosling and founded in 2012 by Fredrik Bergström and David Sundin, formerly associated with the digital advertising agency Great Works, developed a digital platform to can be used to send invoices and then get the money paid as salary. In 2017 the company recored revenues of about SEK 91M ($10M), with a profit of SEK 1.2M.

Cool Company, founded in 2009 and led by CEO Andreas Kullberg, is a professional umbrella company that simplifies the administration for freelancers and independent contractors and make it possible to invoice without having a company. In 2017, the company lost money at a turnover of SEK 406M ($45M).

Cool Company is owned by Verdane Capital, which controls about 70% of its shares, and by founder Jan Bergstrand. Early in 2018, Cool Company acquired the Swedish operations from Ukko.

Total investments received (USD): 10.78M