Sitoo secure funding from private equity company Verdane to accelerate global expansion
Swedish SaaS company Sitoo, the leading provider of could-native POS and unified commerce platform solutions, today announces a €26 Million minority investment from Verdane, the European specialist growth investor.
This marks a significant milestone for the company, which has rapidly transformed from a Nordic underdog into a challenger on the global retail technology stage. Armed with Verdane’s support, Sitoo is set to take on some of the industry’s biggest players, capturing the massive opportunity in the U.S. and global markets while strengthening its foothold in the UK and European regions.
Sitoo has shown rapid growth in the past years, having increased its ARR by 100% in two years to €12 Million in 2024, as demand for its cutting-edge solutions continues to rise. The company’s relentless focus on continuous product development has been instrumental in driving this growth, enabling retailers to unify all sales channels in real time and provide seamless cross-channel shopping experiences. With Verdane’s backing, Sitoo will further accelerate its expansion plans and solidify its reputation as a global disruptor in retail technology.
“We have seen Sitoo deliver on its growth ambitions with best-in-class execution by Jens and the team since we first met in 2019. Back then they were a local Swedish player with big ambitions and has now become the clear market leader in the Nordics and we look forward to partner with the team to help build the business into a Global category leader” said Pål Malmros, Partner at Verdane.
“We are thrilled to partner with Verdane, whose extensive experience in scaling tech-enabled businesses aligns perfectly with our vision,” says Jens Levin, CEO and Co-founder at Sitoo. “Our ability to consistently deliver cutting-edge technology and exceed customer expectations has allowed us to establish ourselves as trusted partners to leading retailers like Mint Velvet, Nudie Jeans, TFG London, and Jigsaw. As a relatively small Nordic player, we’ve proven that it’s possible to take bold steps and challenge the giants in our industry.
This collaboration marks the beginning of an exciting new chapter as we accelerate our expansion into the U.S. and North America. With Verdane’s support, we will continue to redefine the retail landscape, empowering retailers with innovative solutions that meet the demands of modern commerce.” says Jens Levin.
About Sitoo:
Founded in Sweden, Sitoo is a Unified Commerce Platform anchored by Point of Sale, trusted by over 300 retailers with stores in Europe, Asia, Australia, and North America. Since launching its best-in-class SaaS platform in 2015, Sitoo has emerged as the market leader in the Nordics and is consistently expanding its global presence. Sitoo is a proud member of the MACH Alliance and provides best-of-breed solutions for many brands like Mint Velvet, Nudie Jeans, TFG London, and Jigsaw. For more information, visit www.sitoo.com
About Verdane:
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses to help them reach the next stage of international growth. With over €8 billion in assets under management and a team of over 150 investment professionals and operating experts across Europe, Verdane has made over 400 investments in fast-growing businesses since 2003. The firm is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe. For more information, visit www.verdane.com.
