News July 12, 2022: Spotify, TicTac, Xenergic, Hedvig and more

Here is today's curation of news from Sweden's startup and tech sector.

This post has been unlocked and made available for free a month after publication.

Subscribe to Swedish Tech News to get access to a daily newsletter that brings you a brief overview of news from the Swedish startup & tech sector, curated by Martin Weigert.

Or, if you prefer a free weekly newsletter, subscribe to Swedish Tech Weekly!

Mergers & acquisitions

  • Spotify (Stockholm, audio streaming service) acquired Wordle-inspired music trivia game Heardle. The acquisition price was not disclosed. The game, which has "millions of current players", remains a standalone website for now (English).
  • TicTac (Malmö, provider of corporate e-learning solutions) acquires German provider of digital learning solutions Interlake. Financials were not disclosed (English, Swedish).

Funding news

News from Swedish startups, the tech sector and VCs

  • Breakit published a list of all the major Klarna investors and how much the value of their shares has decreased between 2021 and 2022 (Swedish, machine translation).

Swedish tech earnings reports

  • Hedvig (Stockholm, digital insurance provider) accumulated a loss of SEK181M (€17M, $17M) during 2021, mostly due to costs for marketing and investments in the technical platform. The company says the result is totally in line with the plan (Swedish / Breakit paywall).

Other interesting things from the startup/VC world

  • German insurtech startup Wefox has raised a $400M Series D, increasing its post-money valuation from $3B last year to $4.5B today (English).
  • Global VC fund Cathay Innovation has revealed its newest fund, totaling €1B, aimed at supporting startups from across the world working in enterprise software, AI, fintech, digital health, new mobility, retail, and energy sectors (English).
  • The founder as the shock absorber for the startup (English).


That's it for today.‌

Martin Weigert

Martin Weigert

Martin is the founder of Swedish Tech News. Every day he spends many hours gathering and curating the latest from Sweden's startup & tech sector. Contact: