Fashion giant H&M Group acquires minority ownership stake in Swedish retail technology platform Voyado.
Omnichannel customer engagement specialist Voyado reports that H&M Group has acquired a minority ownership stake in the company.
Financial terms of the deal were not disclosed.
Erik Lagerblad, Head of H&M Group Ventures, said, “We are really impressed by Voyado’s journey so far. After rolling out their solution globally, we’ve seen firsthand the difference it makes in creating value at scale.”
“That’s why it makes perfect sense for the H&M Group to deepen our partnership through an investment, which will further support Voyado’s future growth and strengthen their offering for other enterprise customers.”
The company lays claims to significant market share across the Nordics and Benelux, and it is now focused on expanding into key markets such as the UK, and Germany.
Erica Sandelin Ekelund, CEO at Voyado, pictured below, said, “Our ambition is to establish Voyado as Northern Europe’s most beloved retail tech companion while maintaining profitability and scalability. H&M Group’s investment brings valuable insights and resources that align with our efforts to scale faster and expand into new segments, creating value for our existing and future customers.”
Voyado’s existing investor base includes Novax, Verdane, and eEquity. While H&M Group will not join the board of directors, its representatives will contribute to strategic discussion in other forums.
“We aim to challenge the global giants in our field and are well-positioned to grow our market share further across Europe. Retail isn’t just what we do; it’s our entire focus. This dedication allows us to build smarter, more effective products that address the challenges retailers face today,” Ekelund concluded.
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