Virkesbörsen raised SEK 4.5M for a regional marketplace for wood

Sweden Investments 01 June 2017
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Virkesbörsen, a Stockholm, Sweden-based startup providing a marketplace for selling and buying wood across Sweden, announced raising SEK 4.5M ($520k) in equity investment.

The backers include Almi Invest (SEK 2M), Olof Hallrup (another SEK 2M) and other local investors.

Virkesbörsen, founded in 2016 by CEO Adam Aljaraidah, has developed a platform that makes it easier for buyers and sellers of wood to find each other. Today in Sweden there is no structured way to trade the timber without the seller often turn to established contacts and competitive bidding is not always a good sales process among buyers. On Virkesborsen forest owners can compare quotes from various forestry companies to ensure the profitability of forestry.