U.S. FrontOffice invests $206 million in Swedish fintech firm Samtrygg

07/07/2018 7:46:00 AM (GMT)

U.S. software company FrontOffice has made an investment in rapid growing Swedish financial technology firm Samtrygg.

FrontOffice acquired the shares from existing shareholders to the share price of 2.80 Swedish krona, which corresponds to a total investment of 1.806 billion Swedish krona ($206 million). The acquisition is purchased by a direct issue of 516 000 B shares to the share price of 3.50 krona ($0.4).

FrontOffice Nordic intends to increase its investment further in Samtrygg with a target of approximately 10 percent of the company shares.

The revenue amount for Samtrygg was above 92 million krona ($10 million).

FrontOffice

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