20NINE closes financing round and expands the board

20NINE, the SaaS platform for running, digitising and growing small businesses, closes a new funding round and complements the board with additional competencies for increased growth and expansion.

During the past two years, 20NINE has worked intensively on creating the right conditions for international growth. The growth plan is based on a channel strategy where primarily companies within Telecom and Bank, who have large amounts of small businesses as existing customers, become partners with 20NINE.

During 2022 20NINE has taken important steps for international growth and is now in an expansive phase that requires a larger organisation to be able to utilise the unique "First mover advantage" that exists for the company in several markets internationally.

To support the expansion and growth, 20NINE has therefore taken in 11 million SEK in external funding, with the majority coming from new investors.

In connection with the rights issue, Claes Wiberg (experienced entrepreneur and founder of B3 Consulting) and Jonas Rydin (experienced entrepreneur within Saas) also take a seat on the board. The new board members also join as shareholders and, together with Jonas Rydin, the Jensen family (ELFA's founder) also invests in 20NINE.

"We are proud to have gained the trust of our new investors, especially in these times, and that they also take an active role in the board's work. We look forward to being able to strengthen the board with additional relevant skills and networks, which will be of great benefit to 20NINE during the next phase," says Andreas Lalangas, CEO and founder of 20NINE

By becoming a sales and distribution partner to 20NINE, Telecom Operators and Banks can offer their small business customers a modular Saas platform to digitise corporate customers' sales, prospecting, marketing, document/contract management, e-signing, recruitment, CV/consultant management and in the near future also support/customer service and an external My Pages portal. With 20NINE, a small company can quickly and easily get started with the digitalisation of its operations and collect all relevant information in one place. All without having access to an IT departement or an extensive budget.

The new capital will make it possible for 20NINE to focus on growth in several markets internationally and it also creates conditions for 20NINE to grow the organisation with the right competences. The plan is to recruit up to 50 people within the next few years, mainly in sales, technology and SaaS marketing.