Cutters secured $1.2M in fresh capital from Robert Iversen and Øivind Tidemandsen

Cutters, an Oslo, Norway-based chain of haircuiing salons, announced that it entered into an investment agreement.

The deal was made with local Nowregian angel investors including Øivind Tidemandsen and Robert Iversen, for a total of NOK 30M - a secondary equity sale of 20M and a capital infusion of NOK 10M ($1.2M).

Cutters, founded in 2015 by Kristian Solheim and Andreas Kamøy, built a chain of 44 salons in Norway and Denmark. In 2017 the company was profitable at a yearly turnover of ablmost NOK 70M ($8.5M).

Prior to this deal Cutters raised money from Askeladden, Bauer Group and Momentum Partners.