Fidesmo adds $3M and a new local investor, Segulah, opens office in UK.
Fidesmo, a Stockholm, Sweden-based company providing payments and other contactless services, secured SEK 24M (3M) in a new investment funding round. The money comes from existing and new investors, including Segulah and 82an Invest. 82an Invest was also part of a SEK 10M round announced in the fall of 2017.
Fidesmo, founded in 2013 by Mattias Eld (CEO) and Miguel Cardo, develops digitzed services as it connects payment cards and other contactless services to smart wearables, as well as filling these wearables with new digital services. The company has offices in Stockholm, Madrid and Germany and recently appointed John P Campbell to spearhead its UK launch plans.
In 2016, the company was not profitable and accounted for SEK 4.5M ($560k) in revenues.
Prior to this deal, Fidesmo raised a little more than $2M from investors including Erik Hallberg, Jan Bosch, Niclas Lilja, Ola Lauritzson, Petter Lindström and Simon Josefsson.