Yaytrade announced securing funding of SEK 16 million.

Yaytrade, a Stockholm, Sweden-based operator of a digital marketplace, announced the completion of a SEK 16 million ($1.9M) capital investment round.

The announcement was made in conjunction with the company's intentions of listing its shares on a public market in 2021. At the same time, the company announced adding Magnus Agervald as chairman of the board and Flora Berglund as a board member.

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 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.