Fortnox acquires Capcito Finance AB
Fortnox has entered into an agreement regarding the purchase of approximately 78 per cent of the shares in the fintech company Capcito, at a valuation of the entire company corresponding to MSEK 410 and with closing planned for 1 December 2021.
Fortnox is a cloud based platform for financial administration for small businesses, accounting firms, associations and schools. Approximately 400 000 businesses use Fortnox’s services for their administration. Through its subsidiaries Fortnox Finans and Fortnox Försäkringar, Fortnox also offers financing services and insurance services to its customers.
Capcito’s business consists of offering automated lending and invoice financing services to companies. Further, Capcito owns and operates the platform Monto, which is an innovative data-driven SaaS service that allows banks and other lenders to assess and monitor companies’ credit standing in real-time by using data from leading business platforms and banks. Today, Monto is an integrated solution for several leading companies and the platform will continue to be developed by using data and insights from Fortnox’s user base.
Fortnox was advised by Mannheimer Swartling in the transaction.
