Summa Equity invests SEK 100m in Pagero

Summa will become the largest shareholder via a rights issue and acquisition of shares from existing stakeholders. The management team will remain invested alongside the GP.

The fresh capital will be used for R&D, expansion into new markets and expanding the workforce. The company hopes to benefit from global digitalisation and automation trends along with more stringent regulatory compliance demands.

Summa, a Nordic buyout firm founded by Altor and Nordic Capital veterans, closed its debut fund on its SEK 4.5bn hard-cap in early 2017, a year after the firm was founded.

The Nordic lower-mid-market GP said in a statement Summa Equity Fund I had surpassed its initial SEK 3.3bn target and seen demand exceeding the SEK 4.5bn hard-cap.

Company
Founded in 2000 and headquartered in Gothernburg, Pagero has offices in 12 countries and employs more than 190 people. Its cloud-based network provides enterprise planning and e-invoicing services. The company reported revenues of SEK 168m in 2016.

People
Summa Equity – Christian Melby (partner).
Pagero – Bengt Nilsson (CEO).

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