With the plans to grow, in both customers and employees, and extend their services to over 16,000 stores globally, PinMeTo plans to raise 30M SEK (€ 3.2M) in an investment round towards the end of 2016.
“A big part (of the investment) will also go to marketing and product development to broaden our offer,” says Daniel Melkersson, CEO and co-founder of PinMeTo to 8till5.
PinMeTo is a tool that allows businesses, retailers and franchises to have up-to-date and consistent data across all social media platforms, such as Google and Facebook. In other words, it lets them be on the digital map for their customers. Since they released their service in late 2015, the Malmö-based company has continued to grow their customer base, which stands today at 32 companies and 4 500 stores all over the world.
“This year, the goal is to get over 100 customers and 16 000 stores” says Daniel Melkersson.
With the planned investment round, PinMeTo also aims increase their number of employees, which had already tripled in the last year, and grow globally. They established an office in Stockholm during the year and this investment round is intended to set up another office in London, according to Melkersson.
This investment would add up to the 8.5 million SEK (€ 0.9M) in external capital that they previously raised through entrepreneur Lars Wingefors and D-ax. In 2016, PinMeTo expects their sales to reach over € 0.8M.