Strong investor backs Splitgrid as they look to take in Million dollar sums

FinTech company Splitgrid takes in new capital. The goal is to take in $500K – $1,100K that the company may grow and scale the product internationally, with Scandinavian countries as the first step down the road.

“The purpose for this investment is to accelerate the development of our company. The power from it will be put towards sales and marketing, though our product will obviously be developing alongside such. Our initial purpose is to spread within Scandinavia, but we plan to go even further internationally within three years,” says Göran Eriksson, CEO for Splitgrid.

The partner in the capital round is the venture company Innovestor, which will also be the anchoring financier in this process.

“It is exciting to find a company that has identified a problem that is not only here in the Nordics, but also global. Splitgrid has created an innovative solution that enables both suppliers and retailers to make a safer and more profitable businesses. We see that there is a large potential for the service to enter the global market for many industries, and the market being even greater outside the Nordics,” says Stefan Sonnerstedt, investor and company creator for Innovestor.

“We have today around 100 suppliers that we serve in our system, all of which we have retained since they began. We see that there is a significant interest in Splitgrid and with the capital in the bag comes our chance to grow rapidly,” says Göran Eriksson.

Splitgrid is a data software that is integrated in cash registers which ensures that money is being sent continuously to suppliers. The company was founded in 2016 and has its headquarters in Örebro, Sweden. The founders are Göran Eriksson and Jonas Forsman. There are approximately 30 shops and webshops and 80 suppliers that use Splitgrid on a regular basis.