Hygglo acquired its Norwegian competitor Leieting

Hygglo, a Stockholm, Sweden-based company operating a marketplace for short rentals of gadgets, announced that it acquired Leieting, its smaller competitor based in Bergen, Norway.

Financial details of the transaction were not disclosed. The funding will be supported by Hygglo's existing investors, including Norwegian media company Schibsted, through a fresh financing round injected into the Swedish company.

Hygglo was founded in 2015 by Ola Degerfors, Axel Hellstrom and Henrik Fräsén, developed a platform that makes it easy to share gadgets. The company is funded by a range of Swedish investors, including including Norrsken Foundation and Schibsted Growth.

Leieting, founded in 2015 by Christer Hansen Eriksen, was used by 30,000 people from Norway and has raised $250,000 from 28 investors in 2016.