This strategic transformation has now culminated in its acquisition by European software group Everfield for a “high double-digit million” sum, as announced in a company press release.

Today HeapsGo offers a scalable, custom branded digital platform that helps restaurant chains manage ordering, customer engagement, and in-store operations. The company serves customers primarily in Denmark, with a growing presence in the DACH region, and supports restaurant brands including Jagger, Bone’s, Wedo, OAKBERRY and OLIOLI.

The HeapsGo founding team, led by Niels Hangaard (CEO), Jens Grud (CTO), and Frederik Bjerager Christiansen (CCO), will remain in place, continuing to support customers and further develop the platform as part of Everfield.

“We’re excited to continue working with our great customers and building the product that can help them win in the future. Now, we can speed up the process towards our long-term vision with access to new competencies, capital and a broad network across Europe.”

says Niels Hangaard

HeapsGo’s software suite delivers a fully branded webshop, native iOS and Android apps, self-service kiosks, in-store ordering tablets, and POS integrations. The solution also supports integrations with delivery partners such as Wolt and Foodora, alongside tools for dynamic menu management, marketing automation, kitchen display systems (KDS), and real-time analytics.

Supporting modules enable direct customer communication, delivery fleet integration, and advanced loyalty functionality, allowing restaurant operators to manage the full customer journey across digital and physical touchpoints within a single setup.

“With HeapsGo being our second acquisition in the Nordics, we continue to see strong long- term potential in the region. HeapsGo has built a robust, all-in-one digital platform that solves complex operational needs of restaurant chains. It fits naturally within our Hospitality & Leisure vertical and supports our strategy of investing in payment-enabled software platforms,”

says Lorenz Fuglsang, Investment Lead (Nordics) at Everfield.

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For coherence’s founder, Dino Patti, the acquisition is more than a financial transaction; it’s validation of a mission that began with a simple but ambitious goal: to revolutionize how developers build multiplayer games and interactive experiences.

“Family and friends often ask why I work so hard. Moments like this are why,”

the founder Dino Patti shared in a LinkedIn announcement.

The partnership with RIG ensures that coherence will not only continue its work but do so with even greater resources and support.

“Coherence was set up to serve developers, and our mantra—‘by developers, for developers’—has never been more relevant.”

Dino Patti wrote

The acquisition comes at a pivotal time for coherence, whose technology was born out of frustration with outdated, inflexible multiplayer solutions.

“…this is a huge milestone in our mission to make the world more connected through digital experiences. I’m extremely happy that we found a strong partner who understands the vision of coherence and the mission we are on,”

Dino Patti wrote

The post Coherence Acquired by Roundtable Interactive Group: A New Chapter for Developer-Focused Multiplayer Technology appeared first on Øresund Startups.

The deal, reported first by Rapidus, sees Accell-KKR take a majority stake in Eletive, which has grown to 100 million SEK in annual recurring revenue, a testament to its rapid expansion and profitability in the competitive HR-tech sector.

Founded by Marcus Wennmo and Nils Wilhelmsson, Eletive has been prioritizing organic growth and profitability over external funding.

“We’ve had the advantage of not being dependent on external capital. For a long time, we’ve been profitable and didn’t need money just to survive. When we did raise funds, it was to grow. and that allowed us to be selective in choosing the right investors,”

said Marcus Wennmo to Rapidus

While the acquisition price remains undisclosed, Rapidus reports that Eletive’s 2023 funding round valued the company at approximately € 41 million (458 million SEK) post-money, with Fårö Capital as the biggest external shareholder, with 14 procent of the shares.

“I’ve been chairman of Eletive for six years, and I’m deeply impressed by what Marcus, Nils, and the rest of the team have built. It’s been incredibly rewarding to contribute, and it’s great that all investors, even those who came in later, made a strong return,”

Linus Wiebe told Rapidus

The exit underscores the regions strength in building global competitive SaaS companies in the HR tech field, with others such as Planday, Peakon, Wellbefy, PayZlip and many more.

The post Private Equity Giant Accell-KKR Acquires Eletive appeared first on Øresund Startups.

By combining forces, the two startups will leverage StudyBee’s expertise in data-driven educational development and Google Classroom integration with Unikum’s extensive experience in the K-19 perspective and partnerships with over 100 municipalities.

StudyBee was founded by Ian Rattigan and has raised approximately SEK 25 million in equity funding, according to data registered with Bolagsverket. The largest outside investor is Djäkne Startup Studio. For 2023, StudyBee reported net revenue of SEK 2.4 million and a loss of SEK -2.1 million, as reported by Swedish Tech News.

Unikum, founded by Jonas Ryberg who remains the majority owner, has notable outside shareholders including JCE and Philian, Karl-Johan Perssons investment company. In 2023, Unikum reported net revenue of SEK 62.6 million and a break-even result.

Strengthening Educational Tools

The merger will see StudyBee continue to operate with full force, both as a tool and as a team, now bolstered by Unikum’s resources and customer support. This deal is set to provide Swedish schools with an unmatched combination of modern and easy-to-use tools for learning and data-driven development, particularly beneficial for those using Google Classroom or Teams.

With over 100 municipalities and independent school chains already using Unikum and StudyBee, the merger represents a significant step forward in making advanced educational tools accessible to even more students and educators. The combined experience of over one million children and students’ learning journeys underscores the potential impact of this collaboration.

The post StudyBee Acquired by Unikum to Enhance Learning Tools for Swedish Schools appeared first on Øresund Startups.

Accessy’s Contribution and Future Prospects

Founded over five years ago by leading real estate companies, Accessy enables property owners to connect various access systems and manage permissions in real-time without investing in new hardware. This capability is expected to complement Hydda’s existing services and drive further innovation.

“We look forward to creating a clear and compelling offering together with Hydda’s portfolio companies. By providing digital permissions we have already identifying several strong common customer propositions,”

said Joakim Hellberg, CEO of Accessy to Fastighetsvärlden

Strategic Acquisition and Vision

With the addition of Accessy, Hydda now offers a comprehensive suite of services, including Envise, Spaceflow, Freesi, Estate Logs, Parkando, and Yieldly. Hydda has been actively expanding its portfolio through strategic acquisitions, often integrating acquired companies into its platform and welcoming sellers as new shareholders.

Shareholder Transitions

Some of Accessy’s shareholders will exit their ownership as part of the acquisition, while others will continue as shareholders under Hydda’s umbrella. This transition is expected to foster continued collaboration and growth within the Hydda ecosystem. Exact terms have not been disclosed, but Swedish Tech News recently reported about a new share issue at Accessy at a lower then previous valuation, which probably was part of the acquisition.

The post Digital Lock System Startup Accessy Acquired by Hydda appeared first on Øresund Startups.

Investor Support and Reflections on Penneo’s Journey

In a LinkedIn post following the announcement, Nicolaj Højer Nielsen shared his enthusiastic backing for Visma’s offer. Reflecting on Penneo’s journey from its early days in a basement to becoming a company with over DKK 100 million in annual recurring revenue (ARR), Nicolaj likened the entrepreneurial experience to extreme sports:

“It costs blood, sweat, and tears, with many ups and downs. But with perseverance and patience, you can go far!”

While he acknowledged his passive role as an investor in recent years, Nicolaj emphasized his pride in Penneo’s accomplishments and credited the employees for their hard work.

“All the credit goes to the incredible team who made Penneo what it is today.”

Strategic Alignment

Penneo, now listed on Nasdaq Copenhagen, has built a reputation for streamlining business processes for anti-money laundering-regulated B2B companies. The acquisition aligns with Visma’s strategy of expanding its mission-critical software portfolio through both organic growth and acquisitions.

“Penneo has impressed us with its strong capabilities within B2B SaaS products, which are highly complementary to Visma’s existing offerings in the European market. By joining Visma, Penneo would continue to operate as a distinct entity while benefiting from our capabilities, enabling faster and stronger growth.”

said Merete Hverven, CEO of Visma.

The Board of Directors of Penneo has unanimously indicated its intent to recommend that shareholders accept the offer, which is subject to approval by the Danish Financial Supervisory Authority. Jostein Vik, Chairman of the Board at Penneo, emphasized the advantages of the deal:

“Partnering with Visma will further strengthen Penneo’s position within digital signature and KYC. This offer is an appreciation of our employees and their accomplishments, and it reflects Visma’s confidence in our continued development.”

Jostein Vik said

The offer has already gained significant shareholder backing. Major stakeholders, including Danica Pension, BankInvest, and Viking Venture 29 AS, as well as Penneo’s founders and management team, have provided irrevocable undertakings representing 43% of voting rights. Additionally, ATP, holding 9.9% of voting rights, has expressed its intention to accept the offer.

This move marks another strategic expansion for Visma, which continues to focus on simplifying and automating complex processes for businesses across Europe and beyond.

The post Visma Launches Acquisition Offer for Penneo at a over 100% Premium appeared first on Øresund Startups.

A No-Code Start

Hugo and Jack began their entrepreneurial journey with limited resources and a shared passion for no-code technology. Jack started experimenting with tools like Bubble during high school, and Hugo soon joined him. Spotting an opportunity in AI, the duo built a platform enabling users to generate high-quality copy before the AI boom led by tools like ChatGPT.

“We didn’t have big budgets. No-code was our way in. We had to be scrappy and creative,”

Hugo shared, reflecting on their early days.

Scaling Challenges and Viral Growth

In early 2023, SinCode AI launched, gaining rapid traction through viral TikTok and YouTube videos. The platform reached 50,000 users in its first month, but growth brought its own set of challenges. The team faced system exploitation, fake accounts, and payment issues, which significantly increased their costs.

“It was a tough but eye-opening experience,”

Jack noted.

These challenges forced them to adapt quickly, enhancing security and reshaping their infrastructure to handle the demands of a growing user base.

Acquisition by HubSpot’s Dharmesh Shah

In 2023, SinCode AI caught the attention of Dharmesh Shah, co-founder of HubSpot. The hard work paid off when he was interested in acquiring the startup. The acquisition process was smooth, thanks to the founders’ decision to bootstrap the business, maintaining complete control.

“We were happy we didn’t take VC money early on. Being bootstrapped meant we could choose our own path,”

Jack reflected.

The Role of Minc

The Malmö-based incubator Minc was instrumental in SinCode AI’s success. Hugo and Jack joined Minc to gain mentorship and office space.

“Minc gave us the space to focus and the guidance to keep going,”

Jack shared.

Advisors like Jonas Jönsson played a critical role during tough moments, particularly when financial challenges arose.

“Having experienced voices to lean on made a big difference,”

Hugo added,

Advice for Aspiring Founders

Advice from the founders for new entrepreneurs are streight forward.

“Just do it. Don’t overthink it.”

is Jack’s advice

“Patience is key. It took months and countless conversations to finalize our sale.”

Hugo added

What’s Next for the Founders

Following the acquisition, Jack is pursuing his dream of becoming a commercial pilot, beginning his studies in January. Hugo, meanwhile, is exploring a new venture focused on enhancing productivity for iPhone users.

From its bootstrapped beginnings to a high-profile exit, it’s a journey that highlights the regions growing role as a hub for tech innovation.

The post No-Code Startup SinCode AI: From Bootstrapped Beginnings to Exit to HubSpot’s Dharmesh Shah appeared first on Øresund Startups.

“Joining Normative opens up exciting possibilities for our clients. Normative’s extensive experience serving hundreds of companies across the Nordics, EU, and UK, combined with their unique approach of pairing a robust carbon accounting platform with in-house climate experts, will provide our customers with unparalleled resources and expertise in carbon accounting and emissions reduction.”

said Thomas Zeihlund, CEO of Eivee

By integrating Eivee’s expertise and robust Danish client portfolio, Normative will expand its market presence and enhance its services to even more corporations throughout Europe. This acquisition promises to streamline carbon emission reporting and compliance processes, offering a comprehensive solution for businesses navigating the complexities of carbon accounting.

“This move not only solidifies our position in Denmark but also reinforces our commitment to delivering localized carbon accounting solutions tailored to the regulatory demands across Europe. Combining our strengths with Eivee’s expertise allows us to better support our clients in complying with legislation such as the Corporate Sustainability Reporting Directive and translating their reporting obligations into tangible emissions reductions.”

said Kasper Hulthin, investor in Normative and Danish seasoned entrepreneur

The acquisition is expected to:

• Expand Normative’s client base to include some of Denmark’s most influential companies
• Reinforce Normative’s leadership in providing comprehensive carbon accounting and reduction solutions in the Nordic market
• Demonstrate Normative’s capability to offer tailored, compliant, and audit-ready solutions supported by expert guidance, for major corporations across the EU and UK
• Further Normative’s mission to be the market leader in CSRD compliance

“We are thrilled to welcome Eivee’s clientele to our platform. The addition of some of Denmark’s largest companies to our already robust customer base across the Nordics, EU, and UK will accelerate our efforts to streamline carbon management processes. Our in-house Climate Strategy Advisors are poised to enhance how these companies collect, report, and act on their carbon emissions data.”

says Kristian Rönn, CEO and Co-founder of Normative

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The acquisition positions Muninn’s R&D labs to continue as part of Logpoint’s Labs, with plans for an exciting new research project on GenAI and cybersecurity, funded by NCC, to launch in the fall. Andreas emphasized that the acquisition will enhance Muninn’s ability to scale and continue developing its AI-driven cybersecurity solutions, delivering stronger defense capabilities to even more businesses.

“Consolidation in cybersecurity is trending, and I firmly believe it’s the best way forward. This M&A will enable us to develop faster on our product roadmap, augment cybersecurity for more businesses, and create synergies with Logpoint’s complementary technologies.”

Andreas said about the acquisition

As Muninn and Logpoint join forces, they aim to push the boundaries of AI-driven cybersecurity and strengthen protection against ever-evolving cyber threats. With this acquisition, Muninn’s innovations will accelerate, allowing the team to enhance cybersecurity solutions at a faster pace and on a broader scale.

The post Muninn Acquired by Logpoint to Strengthen AI-Driven Cybersecurity Solutions appeared first on Øresund Startups.

Founded in 2016 by Mikael Langseth Nilsson, November First provides an API-based solution to simplify financial transactions and reduce administrative burdens for SMEs.

“We can reach even more milestones together under the Visma umbrella with our API.”

says Mikael Langseth Nilsson about the acquisition

The company currently employs 20 people in Denmark and Portugal and will continue to operate independently, but from the same office as Visma in Carlsberg Byen. This acquisition marks Visma’s ongoing commitment to expanding its fintech offerings, following the company’s first Danish fintech acquisition in 2022 with Pensopay.

“It’s crucial that we stay at the forefront in creating smart financial solutions for our customers.”

says Karina Wellendorph, CEO of Visma e-conomic

The terms of the deal have not been disclosed. We have reported on November First before, when they where amongst the first to offer employees stock options in the company.

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