Viking Venture takes minority stake in Mercell

The VC investor acquired around 30% of Mercell, Viking partner Eivind Bergsmyr told Unquote.

With the new capital, Mercell intends to develop growth plans for expansion in Europe.

According to Norwegian daily Finansavisen, Viking invested around NOK 50-100m for its stake in Mercell, which reported a 2017 turnover of NOK 43m.

Company
Founded in 1999 and headquartered in Oslo, Mercell is a provider of procurement technology that offers an e-tender system for public buyers in the Nordic and Baltic countries. According to the company, it simplifies the public procurement process and make it more accessible for buyers and suppliers to interact efficiently and securely. Mercell has around 150 employees in seven offices in the Nordic and Baltic regions.

People
Viking Venture – Eivind Bergsmyr (partner).

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