Voyado adds capital funding from Verdane.

Voyado, a Stockholm, Sweden-based software developer of marketing and sales solutions, announced getting into an investment agreement for selling a minority equity stake in the company.

The deal, which, has financial details undisclosed, was made with the Norwegian private equity house Verdane Capital. Proceeds will be used as the company eyes expansion in western and northern Europe. The investment was made via Verdane Edda II, a €540 million fund closed in January 2021.

Voyado, founded as Revide in 2005, and led by CEO Johan Bäckarlin, is a cloud-based data-driven market platform with 360 ° customer database, marketing automation, loyalty and bonus logic, campaign and mail engine, reporting tools. Customers include XXL, Rusta, Apoteket, Kjell & Company, NetOnNet, Mio, Polarn O. Pyret and MQ, which produced revenue of roughly €16 million ($19.2M) in 2020.

Voyado previously raised money from Novax, a Swedish investment company, wholly owned subsidiary to the family holding Axel Johnson AB.