Yaytrade announced raising SEK 5 million from Stefan Alvarsson and Henrik Hobik

Yaytrade, a Stockholm, Sweden-based operator of a digital marketplace, announced issuing a new capital share totalling SEK 5M ($600k).

The money was raised from local angel investors from Sweden, namely Stefan Alvarsson (via Reach for the stars AB) who is CEO and owner of One Partner Group and partner in Qvana Invest AB and Henrik Hobik via the company Selected Brands Nordic AB, of which he is chairman and majority owner.

The new share issue entails a dilution of approximately 7 percent of the number of shares and votes in Yaytrade.

The proceeds from the issue are intended to be used for investments in Yaytrade's logistics solutions and platform.

Yaytrade, founded in 2015 by David Knape (CEO), Janni Delér, Jon Berglund and Jon Olsson, developed a marketplace for buying, selling, swapping, and renting products and services.

The company is operated by Ytrade Group AB, partially owned by the public company Odd Molly, which took over almost 40% of the shares in a $3M merger deal with Used By consumated in the summer of 2020. It previously raised $1.9 million in 2020.