Scandinavian Man completes a $430k investment round from Wellstreet
Scandinavian Man, a Stockholm, Sweden-based company operating a media fashion platform, announced that it secured SEK 4M ($430k) in capital investment.
The money was provided by Swedish early stage investor Wellstreet, and will be used to further develop an ecommerce solution on top of company's media offering. The company will work with a local software integrator, Tieto, which will develop the e-commerce and marketplace platform.
Scandinavian Man, founded in 2016 by Konrad Olsson and CEO Jonas Bergström, started from a fashion magazine and built an ecosystem including a website, pop-up stores, and events at fashion weeks around the world. The company makes money from advertising, working with customers including Filippa K, Tiger of Sweden, Haglöfs and Volvo.
Scandinavian Man has 8 employees and is a profitable business, expecting about SEK 16M ($1.7M) for 2019.