Wesports, the Malmö-based sports and outdoor retail group, is set to list on Nasdaq First North Premier before the end of the year, confirming months of speculation. The move comes as the company secures € 14 million (SEK 150 million) in new capital from DNB Asset Management, Handelsbanken Fonder, and Svea Bank, more than doubling its valuation to € 200 million (SEK 2.3 billion) in just six months, Rapidus reports.
Founded five years ago in Lund by Mikael Olander (formerly of BHG Group) and a team of experienced entrepreneurs, Wesports has rapidly expanded through acquisitions, including brands like Tretorn, Addnature, Cykelkraft, and most recently, Norwegian fitness chain Sportsmaster. The company reported € 250 million (SEK 2.8 billion) in revenue for the 12 months ending September 30, 2025, up from € 200 million the previous year.
Wesports aims to reach SEK 10 billion in revenue by 2031, driven by a mix of 10% annual organic growth and continued M&A. Rapidus reports that Mikael Olander, the company’s largest individual shareholder, will retain his stake, while some board members and executives may reduce theirs.
Wesports’ upcoming IPO highlights the regions strength in e-commerce and high-growth retail, with both success stories such as Boozt originating from here, as well as early pioneers such as Bygghemma and CDON (now part of Fyndiq) and many more. This region is also home to everything from giants such as IKEA, as well as lots of smaller e-commerce startups around E-commerce Park of Sweden.
