C5 takes $24m minority stake in Omada

The investment is C5's third in Europe, and will provide the business with capital to support its expansion from continental Europe to the UK and US, as well as to fund marketing, and research and development efforts.

The GP said the size of the capital injection reflected its expectation that the IAG market, currently showing growth of around 10% per year, will continue to see robust growth in the coming years.

Company
Founded in 2000 by Morten Boel Sigurdsson, Omada provides identity and access management services.

The Copenhagen-headquartered company's customers include BMW, Bayer, Mærsk and HVB Unicredit. Omada posted post-tax profits of DKK 20m last year on the back of a 35% growth in revenue, and employs 120 people.

People
Nazo Moosa is the managing partner of C5 Capital. Morten Boel Sigurdsson is the founder and CEO of Omada.

Advisors
Equity – Plesner (Legal).
Company – Bird & Bird (Legal).

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• Topics
• Nordics
• Support services
• Expansion
• Denmark
• Bird & Bird