Urb-it raises SEK 110M prior to its announced public listing on the stock exchange.

Urb-it, a a Stockholm, Swedend-based provider of e-commerce delivery services, raised SEK 110M ($1.2M) in equity investment. The deal was structured as a SEK 37M debt conversion from an existing shareholder, Lage Jonason, and SEK 73M in new equity investment.

Urb-it was founded in 2014 by Mats Forsberg, and is now led by CEO Fredrik Warstedt. The company announced its IPO for the summer of 2017.