Neo4j is one of the unicorns that have emerged from this region, being latest valued at over € 2.3 billion (in 2024), and according to Emil Eifrém it has seen its annual recurring revenue grow a lot since then. He says in the article that Neo4js growth in the second quarter of this year is as high as it was all of 2025.

The company sees this strong growth at it is perfectly positioned to capitalize on the AI revolution with its GraphRAG technology, which enhances AI reliability by 80 percent, according to a company-funded study.

Emil says in the interview Neo4j is cash flow positive in its core operations, and that they are investing € 100 million over three years to expand their AI capabilities. Despite pressure from investors, Emil remains cautious about an IPO. He noted that the current market volatility makes being a public company particularly challenging.

For now, he is focused on growing the business, with a recent acquisition aimed at competing with Palantir in the AI space, where he sees a lot of potential for a Europe-focused alternative to Peter Thiels Palantir.

The journey has however not been without challenges, which Emil tells in the interview. Especially when an early prominent VC pulled out of a funding round early in the company’s life. Read the interview at Breakit (in Swedish).

The post Neo4j Sees Massive Revenue Growth at the AI Frontline appeared first on Øresund Startup News.

The partnership aims to accelerate product innovation and expand Queue-it’s global reach.

Founded in Denmark in 2010, Queue-it helps businesses and public organizations manage peak online traffic, protect digital infrastructure, reduce bot activity, and ensure fair access to critical digital services. Its platform is used worldwide across industries such as ticketing, e-commerce, public sector, and financial services.

“We are excited to partner with THL as we enter a new chapter in Queue-it’s journey. THL brings deep experience scaling global software businesses and shares our conviction in the opportunity ahead. Together, we will continue investing in innovation, supporting customers around the world, and strengthening our platform as organizations increasingly look to manage complex digital traffic.”

said Jesper Essendrop, CEO of Queue-it.

THL’s investment in Queue-it aligns with its long-standing focus on software companies that help organizations drive, protect, and optimize increasingly complex digital infrastructure.

As internet traffic continues to grow and AI-driven activity transforms how organizations manage digital demand, THL believes Queue-it is well-positioned to help customers deliver robust and reliable online experiences.

“Queue-it has been an outstanding journey. From its Nordic roots, the company has grown into a true global category leader, with a remarkable track record of growth, improving profitability, and a team that has executed exceptionally at every stage. It has been a privilege to partner with the founders and with Jesper and his management team through this chapter, and we have no doubt that the best is yet to come.”

said Lars Dybkjær, Managing Partner at GRO

The post Queue-it Announces Majority Investment from THL Partners appeared first on Øresund Startup News.

The acquisition marks a historic moment for Danish tech, as GoMore, founded by Matias Møl Dalsgaard, becomes one of the few Nordic companies to consolidate a major European market, typically dominated by U.S. or international players.

“Normally, we see Danish companies being acquired by global giants. This time, a Danish company is leading the charge in a category as significant as car-sharing,”

Matias Møl Dalsgaard said

GoMore has been helping Danes get to and from places since 2005, and we previously reported the founders have been working full-time on the site since 2013. Since then the company has been on a growth journey, that still continues.

By the Numbers: Europe’s New Car-Sharing Powerhouse

The combined company boasts over 5 million users, 70,000 active shared cars, 18,000 vehicles with keyless technology and 1.5 million annual rentals. Gross revenue is reported as €240 million (DKK 1.8 billion) and €53 million (DKK 400 million) in net revenue. The company will have 300 employees.

Both GoMore and Getaround Europe are profitable, and the merger is expected to unlock significant synergies, accelerating growth across existing and new markets.

GoMore has a stronghold in the Nordics and Spain, while Getaround Europe dominates France and has a solid foothold in Western Europe. Together, they share a core mission: reducing urban congestion by promoting car-sharing over ownership.

“This fusion combines our technologies, platforms, and market positions, enabling us to scale car-sharing across Europe at an unprecedented pace,”

Matias Møl Dalsgaard said

The deal aligns with a growing demand for sustainable mobility, as cities grapple with traffic, pollution, and parking shortages.

Strong Investor Backing

The acquisition is financed through a mix of equity and debt, with existing investors, including Jesper Buch (Just Eat founder), Lennart Lajboschitz (Flying Tiger Copenhagen founder), Kaare Danielsen (Jobindex founder), Claus Moseholm, and Kasper Knokgaard, leading the equity portion. Danmarks Eksport- og Investeringsfond (EIFO) and Nordea provided debt financing.

“EIFO has supported GoMore since 2015, and its growth has been impressive. This acquisition highlights the potential for Danish companies to scale internationally while staying rooted in Denmark, exactly the kind of development we aim to support.”

said Signe Thustrup Kreiner, CCO of EIFO.

Additionally, Tim Albertsen, former CEO of Ayvens (the world’s largest leasing company), will join GoMore’s board and investor base, bringing deep automotive industry expertise to help strengthen the company’s private leasing ambitions.

With this deal, GoMore and Getaround Europe are joining forces to accelerate the shift toward sustainable, shared mobility.

“For years, both companies have worked toward the same vision. Now, we’re combining our strengths to take car-sharing to the next level across Europe.”

Matias Møl Dalsgaard said

The merged company expects to maintain annual growth rates of 20–30%, driven by expansion in existing markets and entry into new ones.

“Our strengths complement each other perfectly. Together, we’re better positioned to scale car-sharing and realize our shared vision for the future of mobility.”

said Marie Reboul, CEO of Getaround Europe.

The post GoMore Becomes Europe’s Largest Peer-to-Peer Car-Sharing Platform After Acquiring Getaround Europe appeared first on Øresund Startup News.

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.

The post HeapsGo Acquired by Everfield appeared first on Øresund Startup News.

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 Startup News.

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 Startup News.

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 Startup News.

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 Startup News.

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 Startup News.

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 Startup News.