Universal Avenue announces 60m SEK funding and the launch of Smart Portal
Stockholm, Sweden, June 10, 2020 - Universal Avenue, the B2B commerce platform, is announcing a financing round of 60m SEK from Kaj Hed, through his investment company Moor Holding AB.
“Universal Avenue has the vision and the talent to build something truly unique. We look forward to working with the team on this over the coming years “, says Kaj Hed.
“We are excited to have the long term commitment of Kaj, and look forward to the next steps of our journey.”, says Universal Avenue’s Founder and CEO Johan Lilja.
Universal Avenue continues to build its platform to support the ecosystem of B2B commerce, relating to hardware, software and services. Sales are handled by connected distribution partners which has proven to be a more powerful avenue to scale the business than the previous network of freelancing Brand Ambassadors. Under this transformed model, Moor is the sole external investor in the company.
“Digitalisation and the subscription economy are the core pillars of our platform. We continue to build on our platform to support the ecosystem.”, Lilja states.
Smart Portal is a next generation asset management platform for both the SME and enterprise segment. It is the first tool that automates the purchasing, managing and support of businesses’ hardware and software, as a service.
“We are thrilled by the response Smart Portal is receiving from the market. Employees can now select exactly the devices they need, when they need it, while companies can optimise their costs and ensure a premium employee onboarding/offboarding experience. Everything is done in a circular way with minimum hardware waste.”, says Lilja.
Anders Skarin is recruited as the new chairman of the board. He has extensive experience from the IT industry, for many years Nordic CEO of Capgemini and after that chairman of the board in many small and mid-sized fast growing software companies.
About Universal Avenue
Universal Avenue is a B2B commerce platform that unites sellers, buyers, and sales partners in one ecosystem where they get access to:
Universal Avenue has helped more than 30,000 businesses digitalise. The company is headquartered in Stockholm, Sweden.
About MOOR Holding
MOOR Holding is a family office owned by Kaj Hed, serial entrepreneur and large stakeholder in Rovio Entertainment with Angry Birds as its most well-known brand. MOOR Holding is based in Stockholm, Sweden, with a portfolio that is divided between investments in public and private companies. MOOR Holding invests in digital innovation that enables transformation, aiming to build global impact from the strength in the Nordics. The private equity portfolio carries a long-term perspective, supporting the great teams they invest in, with no pre-defined exit horizon. MOOR Holding are active owners in the companies they invest in with a senior team that has proven experience and track record from entrepreneurial businesses and specialist functions in various industries.