Swedish SaaS company Sitoo, today announces a €26 million minority investment from Verdane. This milestone comes as Sitoo continues to ride strong momentum in the retail technology market, driven by its rapid growth in northern Europe and ambitious global expansion plans.
Sitoo has shown rapid growth in the past years, having increased its ARR by 100% in two years to SEK 125 million in 2024, reflecting an increased demand for innovative solutions that empower retailers to unify all sales channels in real time. The company’s success in key markets such as Scandinavia and the UK has paved the way for its global expansion as retail digital transformation is accelerating at an unprecedented pace.
“We have seen Sitoo deliver on its growth ambitions with best-in-class execution by Jens and the team since we first met in 2019. Back then they were a local Swedish player with big ambitions and has now become the clear market leader in the Nordics and we look forward to partner with the team to help build the business into a Global category leader” said Pål Malmros, Partner at Verdane.
“The success of Sitoo is a testament to the rising demand for agile and scalable retail solutions in an era of rapid digital transformation,” says Jens Levin, CEO & Co-founder at Sitoo. “Our ability to consistently deliver cutting-edge technology and exceed customer expectations has allowed us to establish ourselves as a trusted partner to some of the world’s leading retailers like Levi’s, Rally House, Nudie Jeans and Varner. With Verdane’s investment, we are poised to amplify our growth and cement our position as a trailblazer in the industry.”
The retail sector is undergoing seismic changes as consumers increasingly seek seamless and unified shopping experiences across channels. The Sitoo cloud-native solutions are uniquely positioned to address these needs, enabling retailers to operate with agility, reduce complexity, and enhance customer satisfaction. With the support from Verdane, Sitoo is ready to capitalize on these market trends and continue its journey as a leader in retail technology innovation.
Press contacts
Sitoo Press & Media
+ 46 70 946 61 00
press@sitoo.com
About Sitoo
Founded in Sweden, Sitoo is a Unified Commerce Platform anchored by Point of Sale, trusted by over 300 retailers with stores in Europe, Asia, Australia, and North America. Since launching the best-in-class SaaS platform in 2015, Sitoo has emerged as the market leader in the Nordics and is consistently expanding its global presence. For more information, visit www.sitoo.com
About Verdane
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses to help them reach the next stage of international growth. With over €8 billion in assets under management and a team of over 150 investment professionals and operating experts across Europe, Verdane has made over 400 investments in fast-growing businesses since 2003. The firm is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe. For more information, visit www.verdane.com.
