Marlin backs cloud-based accounting software Medius

The financial details of the transaction were not disclosed. Prior to the deal, Novax held a 39.5% stake in Medius, according to publicly available documents.

Medius was acquired by Novax in 2011 from InnovationsKapital Management, a Swedish venture capital firm that injected SEK 25m into the business through an equity issuance.

Under Novax, Medius expanded from a traditional Swedish software company to a global cloud company. It developed software that changed its business model, allowing it to grow internationally.

Novax is part of the family-owned Axel Johnson group based in Stockholm.

Company
Founded in 2001, Medius is headquartered in Sweden. The company provides cloud-based software that allows organisations to automate their invoice management process. The firm has offices in the US, Norway, Denmark, Poland, the Netherlands, Malaysia and Australia. Medius generated revenues of SEK 235m in 2016. It employs 208 staff.

People
Marlin Equity Partners – Jan-Olivier Fillols (principal).
Medius – Per Akerberg (CEO).

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