Swedish Tech News reports that Malmö based startup Eletive has raised money during it’s last fiscal year. The funding, which has not been reported earlier, is € 2 Million (SEK 22 Million).

Eletive is a SaaS startup that offers an employee engagement platform. The new funding comes from both new and existing angel and private investors, and Swedish Tech News reports at a pre-money valuation of € 39 Million (SEK 436 million) – up 66% from two years ago, when the company last raised money. According to data registered with Bolagsverket, last available financial year (2022) Eletive reported net revenue of SEK33.3M (up almost 2x YoY), and a loss of -SEK6.3M.

Eletive was founded in 2014 by Marcus Wennmo, Nils Wilhelmsson, and Fredric Malmros.

Notably, despite being ten years old, the company has never been covered by Di Digital or Breakit.

Martin, Swedish Tech News