Hästnet secured SEK 135M from new and existing investors.

Hästnet, a Stockholm, Sweden-based operator of an online marketplace for trading horses and related equipment and accessories, announced that it completed a capital investment round totalling SEK 135M ($13.9M).

The funding was provided by a range of new and existing Swedish investors, including Verdane Capital, Otiva and Back in Black Capital. The funding will be used to grow the operations, including the acquisition of new business.

Hästnet, was founded in 2003 and since then it became one of the largest online platform horse related, operating 90% of the horse transactions from Sweden. The company was bought by group of investors from Sweden, including Vostok New Ventures, Ashley Heppenstall and CEO Axel Lagercrantz, which pumped money and put the operation on a growing trajectory.