Predict your next investment

BUSINESS PRODUCTS & SERVICES | Consulting & Outsourcing / Product Development & Design
varvet.com

See what CB Insights has to offer

Founded Year

2008

Stage

Acquired | Acquired

About Varvet

Varvet is a digital products agency that helps companies build apps and digital services.

Varvet Headquarter Location

Sankt Eriksgatan 63 B

Stockholm, 112 34,

Sweden

+46 31-309 60 00

Latest Varvet News

Swedish startup Universal Avenue, a digitisation platform for SMEs, scales up with the acquisition of Varvet

Nov 29, 2018

By Stockholm-based Universal Avenue , a business digitisation and customer acquisition platform, is scaling-up with the acquisition of the Swedish digital agency Varvet . The deal is a strategic move aimed at improving Universal Avenue’s technical platform. Universal Avenue has also secured €5.3 million in Series B funding through a convertible bond from MOOR Capital. We previously wrote about Universal Avenue, as one of the top Swedish startups to look out for it 2016 . Founded in 2014, Universal Avenue offers a range of solutions to help digitalise SMEs, including an app that lets startups hire brand ambassadors on-demand. Over 25,000 businesses have used the startup’s platform to date. Digital agency Varvet has offered its clients customised digital solutions, tools and apps since its founding in 2008 – working with companies ranging from startups to large, well-established corporations such as Electronic Arts and Hemnet. Johan Lilja, CEO and founder of Universal Avenue, said: “Digital development is the core of our business model. We’re delighted that Varvet and its team of amazing developers are joining the Universal Avenue family. The Varvet team will help us accelerate and strengthen our ability to meet increasing market demand for our platform.” Carl-Johan Kihlbom, a partner at Varvet, said: “We see huge potential in Universal Avenue’s business model and their digital platform. Varvet and Universal Avenue are a great fit thanks to our shared ambition of creating digital solutions that actually make a difference.”  Kaj Hed, from MOOR Capital, said: “Universal Avenue is an underestimated player in the market. Our increased engagement in the company demonstrates that we believe in the business and recognise its potential. The acquisition of Varvet can accelerate Universal Avenue’s deliverables and will strengthen the company´s potential in Sweden and globally.”  TAGS

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.