Yabie in a SEK 220 million preIPO capital raise backed by Swedbank, Brightly Ventures and NFT Ventures.

Yabie, a Stockholm, Sweden-based company provider of a mobile software solutions for the retail industry, announced the completion of a SEK 200M ($26.2M) capital funding round.

The money was raised from existing investors in the company, including Swedbank, Brightly Ventures and NFT Ventures.

Yabie calls this a pre-IPO financing round, as the company is now preparing for an Initial Public Offering and international expansion as its next steps.

Yabie, formerly known as Kaching, is a spinoff from the Swedish software company Dynamo, and was founded in 2016 by the same CEO Mathias Plank and Richard Båge. The company has developed Kaching Retail, a mobile cash solution for enterprise retailers which enables store associates to better engage customers anywhere on the store floor. The solution is in use by IKEA and by a range of Apple Premium Resellers.

Yabie previously raised $5M from Swedbank in 2019 out of a total of more than 13.