LeaseCloud secured SEK 3M in a capital investment round.

LeaseCloud AB, a Stockholm, Sweden-based company providing a software as a service solution for leasing management, announced that it raised SEK 3 million ($340k) from its existing investors.

The subscription price per new share in the rights issue amounts to SEK 1.55, which corresponds to a valuation of the company at SEK 65 million.

The new issue secures the company's financing for the coming year including expansion to three new countries in 2018. LeaseCloud AB forms subsidiaries in Denmark, Norway and Finland in order to be able to make leasing transactions in all Nordic countries.

LeaseCloud, founded in 2016 and led by CEO Martin Björnström, developed a cloud based platform for digitalising leasing agreements. The company reported that it had sales of SEK 6.3 million for the period January - June 2018.