Sitoo adds SEK 5.7M in capital investment

Sitoo, a Stockholm, Sweden-based SAAS provider of ecommerce solutions, secured SEK 5.7M ($700k) in capital investment.

The money comes from Swedish angel investor Jonas Engwall and will be used to further expand the company's products outside Sweden.

Sitoo, founded in 2015 by CEO Jens Levin (who had founded Emric and sold it to Tieto), developed a cloud-based cashier solution aimed to help physical stores interested to have an online point of sale. The company is profitable and had sales of SEK 22.4M ($2.6M) in 2017.