Lavendla adds Eequity and Bonnier Ventures as shareholders, for a SEK 23M investment contribution.

Lavendla, a Stockholm, Sweden-based company which sells funeral services, added Eequity and Bonnier Ventures as investors in the company.

The transaction was made for SEK 23M ($3M) for an estimated 20-30% equity share.

Lavendla, founded in 2014 and led by CEO Jakob Nordström, developed an online service selling funeral services. In 2016 the company was not profitable, at a yearly revenue of SEK 8.5M ($1M).

Prior to this deal, Lavendla raised SEK 2M from The Springfield Project in 2015.

It should be noted that, in 2017, Funera, Lavendla's competition, was sold by Verdane for scraps and is in reorganisation due to lack of profitability. Verdane owned 48% of the company. In 2016, Funera had around SEK 20M in sales.