Flexion Mobile raises $10M for its alternative Android game distribution platform, aims to IPO in 2018.

Flexion Mobile, the Swedish startup headquartered in London, UK and managing an Android app distribution platform, announced it had raised $10M.

Backers include Blasieholmen Investment Group, which funds growth companies that intend to go public within 2 years of the investment position.

According to the company, this round is a “pre-IPO funding”, and confirms the company plans to IPO on the Nasdaq First North exchange in Stockholm during 2018.

The money will be used to scale up its platform, which enables developers to publish in 10 Android stores including the Amazon Appstore and Samsung’s Galaxy Apps store.

Flexion Mobile, founded in 2009 by Jens Lauritzson and Per Lauritzson, developed an alternative app store model which has proved very popular in countries such as China where Google Play isn't the default distribution platform for Android apps. The company has a yearly turnover of around $3M.

Prior to this deal, Flexion raised about $5.5M in outside funding, from investors including Carl Palmstierna and AP6, the Swedish Sixth National Pension Fund.