Pej to raise SEK 65 million in a round led by Schibsted.

Pej, a Malmö, Sweden-based company developing a mobile-based payment solution, announced completing a SEK 65 million ($7M) capital funding round.

The money was raised existing shareholders Schibsted, which post deal will become largest external owner.

Pej, founded in 2016 and led by Victor Sandberg, developed a mobile application that can be used as a payment tool directly connected to a service provider such as a shop or a restaurant. The company works with restaurants, arenas and hotels, and customers include Gröna Lund, Sibylla, Hard Rock Café and the British hotel and restaurant giant Whitbread.

Prior to this round, Pej raised $2.7M in an investment round led by Schibsted and secured angel investment from local Investors including Joachim Samuelsson, Paul Cronholm and Anders Blomqvist.