Tryggabud was acquired by Hemnet.

Sweden M&A 11 September 2019
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Tryggabud, a Stockholm, Sweden-based company providing a software solution for verified bidding during real estate auctions, announced that it was acquired by the Swedish real estate marketplace Hemnet.

The financial details of the deal were not disclosed. Tryggabud will gradually be integrated on Hemnet's platform.

Tryggabud, founded in 2015 and led by Magnus Ballchand, launched its service in spring 2017 for digital bidding for the Swedish housing market that enables legitimate bidding with mobile BankID.

Hemnet, led by CEO Cecilia Beck-Friis, operates a marketplace for real estate in Sweden, reaching approx. 3.5 million unique visitors/month. The company was sold by Schibsted in 2016 to General Atlantic and Sprints Capital.