The demand for pay transparency and pay equity solutions is increasing in the EU. Now, the Swedish pay equity platform Pihr expands internationally with software growth investor Monterro.

Monterro, the Nordic region's leading B2B software growth investor, has acquired a majority stake in the Swedish SaaS company Pihr, which offers a platform that identifies, and resolves pay gaps to ensure fair compensation in workplaces. The partnership allows Pihr to accelerate its growth journey in Europe, a market with high growth potential as the implementation of the EU's new pay transparency directive imposes increased requirements on companies to ensure full pay transparency and pay equity.

"We believe that Pihr has enormous potential to continue expanding in an internationally growing pay equity market. Their software creates significant customer value as it solves the complex manual handling of identifying and ensuring fair compensation, and they already have a steady growth with very satisfied customers. We also see opportunities to broaden the platform with additional features in the pay equity area," says Erik Syrén, Managing Director of Monterro and future Chairman of the Board of Pihr.

Pihr easily identifies and resolves pay inequities to ensure organizations comply with the new EU pay transparency directive.

Swedish Pihr was founded in 2012 and offers powerful, easy-to-use software that automates the analysis of salaries, making the process simple, efficient, and value-creating. The solution is already used by more than 500 customers in Europe, including Electrolux, Strawberry, Atlas Copco, and Sandvik, and demand is quickly growing. With the new pay transparency directive signed into law in 2023, companies operating within the EU will need to meet new requirements, such as measuring, correcting, and reporting gender pay gaps.

"Monterro is exactly the partner we have been looking for. Their expertise and experience in expanding software companies internationally are unique. We are really looking forward to making this journey together with Monterro," says Magnus Drogell, founder and CEO of Pihr.

Monterro adds experience and knowledge

Monterro will not be a passive owner. The company is an active investor that supports both strategically and operationally in the software companies they invest in. Since its inception in 2012, they have supported several companies to expand and grow internationally, such as Lime, Matilda FoodTech, Outpost24, Hypergene, Next, and Lumera.

"We always have close collaboration with the management and owners of the companies we invest in. It is a partnership. We are very much looking forward to working together with Pihr," says Erik Syrén at Monterro.

With the acquisition, Monterro becomes the majority owner. The majority of former shareholders and management remain as minority owners.

For more information, please contact:
Erik Syrén, Managing Director at Monterro and Chairman of the Board of Pihr,
Tel: +46 (0)70 738 50 72

Magnus Drogell, founder and CEO of Pihr, tel +46 (0)76 163 01 65

About Pihr
Pihr is a Swedish impact SaaS company whose purpose is to help close the global gender pay gap. Pihr helps over 500 companies in the Nordic region and internationally to meet legal requirements within pay equity and pay transparency while ensuring that they offer fair and equitable pay. Pihr offers the market's most efficient pay equity solution and is a domain leader in its niche in the Nordic region and has in recent years successfully established itself in several markets across Europe. https://pihr.com