Industrifonden and Kreos lead €15.8m round for Widespace

Industrifonden contributed €5m to the round, which saw the majority of the new capital raised through a share issue to Widespace's existing shareholders.

The investment is the largest chunk of funding raised by Widespace since it first received institutional backing in 2012.

Kreos provided growth debt funding in the round through its latest fund, Kreos Capital V, which closed on its €400m hard-cap in early January.

Widespace will use the capital injection to consolidate its position in the European market and expand its presence into other geographies.

Previous funding
In June 2012, Industrifonden and Northzone Ventures committed €3m of early-stage funding to Widespace.

Company
Stockholm-headquartered Widespace is a mobile advertising service that uses predictive technology to provide targeted ads to consumers on the web and mobile devices.

The company employs a staff of 230 across offices in 10 countries.

People
Industrifonden – Johan Englund (investment manager).
Kreos – Mårten Våding (general partner).
Widespace – Patrik Fagerlund (CEO, co-founder).

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• Topics
• Expansion
• Nordics
• Consumer
• Venture
• Sweden
• Northzone
• Industrifonden
• Kreos Capital