Jollyroom in a SEK 180M capital raise deal

Jollyroom, a Gothenburg, Sweden-based retailer for baby products, announce that it raised SEK 180 million ($18M) in capital.

The funding was provided by existing investor, Egmont Publishing, and was part of a larger agreement involving a secondary deal whereas Jollyroom founder and CEO Ole Sauar dilluted its equity holding. Post transaction, Ole Sauar will control 51% and Egmont will own 49%.

Jollyroom, founded in 2010, is one of the larger Nordic retailer of baby products. In 2019, the company had a turnover of SEK 1.4 billion ($160M).