Swedish ecommerce Outnet and Get Out merge and found Outnorth, raising SEK 24M in a new financing round led by Verdane Capital.

In early May 2012, the two e-commerce sites Outnet and Get Out, both focusing on outdoor activities, merged to form the joint company Outnorth.

In connection with the merger, Outnorth receives investment from Verdane Capital VII, previously a major shareholder, a further SEK 24 million ($3.7M) for developing the Scandinavian outdoor industry.

- We invest in Outnorth's strategy to provide Europe's best e-commerce in terms of customer service, delivery times and range of outdoor products. This investment means that the company now can the next gear and continue to accelerate, says Staffan Mörndal Verdane Capital Advisors.

In connection with the rights issue will subscribe also three board members, including the adventurer Ola SKINNARMO, for shares in the company.

This year will Outnorth is expecting to record sales of SEK 100 million. ($15M)