Stockholm-based Auctionet raises SEK 50 million for its marketplace for valued objects

This news was covered on August 21, 2024 in the daily PRO newsletter.

Auctionet, a Stockholm-based marketplace for valued objects, has raised SEK 50 million (€4.4 million/$4.9 million) in equity funding from Swedish investment firm Alfvén & Didrikson, for the expansion in the UK.

In addition, Alfvén & Didrikson also acquires existing shares for SEK25 million, thereby becoming the largest shareholder. Auctionet was valued at SEK 452 million in the transaction, excluding the new funding.

Auctionet was founded in 2011 by Niklas Söderholm and Tom Österman, and has previously raised close to SEK 90 million in equity funding, according to data registered with Bolagsverket and sourced via Eivora.

For 2023, Auctionet reported net revenue of SEK 430 million (up 12.3% YoY), and a loss of SEK 9.8 million.