Yabie, a Swedish fintech company, announced on Wednesday that it has secured €15M at a valuation of €91M in an oversubscribed funding round.
The round was led by a new investment fund, Absolute Unlisted, with €5.7M. Swedbank, NFT Ventures, Brightly Ventures, and Ilija Batljan also participated in the round. To date, Yabie has secured €50M in funding.
The announcement comes one year after securing SEK200M in May, 2021, from Creades, Brightly Ventures, Swedbank, and NFT Ventures.
Yabie says the latest funds will enable it to accelerate the development of its platform and expand to new markets.
Mathias Plank, founder and CEO of Yabie, says, “We are very happy and grateful for the huge interest in Yabie. The sentiment on the market has changed dramatically over the last couple of months where growth and expansion, regardless of cost, are no longer being rewarded. Now, it is all about building a long-term business with a positive cash flow. We see enormous potential going forward, and if we play our cards right, we will come out of this climate even stronger.”
Yabie: What you need to know
Founded in 2017 by Mathias Plank, the Stockholm-based startup offers cloud-based checkout and payment solutions for SMEs in the Swedish market. The platform helps SMEs spend less time on administration and reporting and more time on doing what matters.
The company’s all-in-one solution includes the software, the hardware, the checkout system, and payment options, all of which can be easily customised to fit with accounting.
Currently, Yabie has more than 4000 enterprise customers in Sweden and is handling over 100M transactions annually with a transaction volume exceeding €380M. Yabie says it has a run rate of €+11.4M with a strong growth curve.
Investor
Founded by Mikael Petersson in collaboration with Swedish asset manager Coeli, Absolute Unlisted AB will invest in unlisted companies in the pre-IPO phase with a planned listing on the stock exchange within approximately 24 months.
“Absolute Unlisted is very pleased with becoming a new investor in Yabie. We are really impressed by how Mathias and the team are driving growth in a thoughtful way both organically and by acquisitions. The market for checkout systems and payments in Europe is fragmented where Yabie can take on a leading role by consolidation and organic growth”, says Mikael Petersson.
