Uppsala-based ecommerce company Kitchen Time raises SEK 10M for growth by acquisitions, expects 200% yoy sales growth by end of 2016.

Kitchen Time, an Uppsala, Sweden-based ecommerce operation, announced that it received SEK 10M for growth by acquisitions.

The money was used to buy competitor Confident Living for an undisclosed amount in a cash and equity deal, part of the cash coming from a SEK 10M capital injection from shareholder Verdane Capital. Confident Living was expected to have a turnover of SEK 45M in 2016.

Kitchen Time was founded in 2010 in Uppsala under the name lykka.se, which it changed in 2014.

Kitchen Time is active in Sweden, Finland, Norway and Denmark and used acquisitions for accelerated growth in the past, as in January 2016 announced it had bought four more companies for expansion.