Outnorth gets SEK 26M in an investment round including Verdane Capital

Venture Capital Fund VII Verdane Capital K / S (Verdane VII) invests with other existing shareholders SEK 26 million ($3.3M) in Outnorth to finance further growth.

Outnorth is one of the leading players in the outdoor articles online and aims to become the largest, in terms of both sales and breadth of product range.

"With the new capital at checkout, we will be able to offer our customers an even broader produktubud and better service. It's brilliant for the coming winter season, "says Lars Nykvist, CEO of Outnorth. "We have recently begun to sell cross-country skis and we hope for a good winter, with many opportunities for the more than one million visitors every month we have to enjoy winter sports and outdoor activities."

To Outnorth has expanded the range of cross-country skiing is a great example of how the company wants to work with its suppliers, in order to present both the breadth and depth of range. Even today, the online store offers all major Nordic brands of quality products for outdoor activities such as Haglöfs, arctic fox, Didriksons and Helly Hansen.

Verdane VII Outnorth became a partner in 2010, and followed up with a SEK 24M investment in 2012.. Since then, the company has more than quintupled its sales and opened online stores for the other Nordic countries, as well as Germany and Japan. The Nordic expertise in frilutfsliv and the quality brands that sell Outnorth get good response internationally.

"Outnorth aims to become the Nordic leader in Outdoor online, both in terms of sales and product diversity. We want to build a strong brand and be top of mind for consumers, "says Staffan Mörndal, Partner at Verdane Capital Advisors. "We think long-term about Verdane VII's investment and expect continued strong growth in Outnorth."