Kaching raises $5M in strategic investment led by Swedbank.
Kaching, a Stockholm, Sweden-based company provider of a mobile software solutions for the retail industry, announced raising a SEK 48.5M ($5M) capital investment round.
The money was provided by a range of Swedish investors led by Swedbank and including Brightly Ventures, angel investor Erik Stannow and existing investor Collector Ventures, which increases their holding in this round.
Erik Stannow, who worked at Apple in the Nordic countries, also joins as executive chairman of the board.
Kaching is a spinoff from the Swedish software company Dynamo, and was founded in 2016 by the same CEO Mathias Plank and Richard Båge. The company has developed Kaching Retail, a mobile cash solution for enterprise retailers which enables store associates to better engage customers anywhere on the store floor. The solution is in use by IKEA and by a range of Apple Premium Resellers.
Prior to this round, Kaching raised more than $8M from outside investors.