Flowfactory raised SEK 11 million

Flowfactory, a Stockholm, Sweden-based SAAS developer of a low code platform, announced the completion of a SEK 11M ($1.3M) capital funding round.

The name of the investors was not disclosed.

Flowfactory was founded in 2016 by Frida Höök, CEO Fredrik Lindqvist and Stellan Andersson, developed a general-purpose low-code platform enabling other organisations to develop their own digital products. Clients include Siemens (which was an initial customer of the company) and local public institutions from Sweden such as Riksbyggen, the County Administrative Boards and the Stockholm Region.

In 2020, the company produced revenue of SEK 10M.