Mercell uplisted to the Oslo Stock Exchange

Picture from left: Erik Hagen, Managing Partner Viking Venture, Terje Wibe, CEO Mercell, Joar Welde, Magnus Willumsen, respectively Partner and Investment Manager Viking Venture and Fredrik Eeg, CFO Mercell

• Mercell – the Nordic market leader in digital public tendering – is today uplisted from the Euronext Growth trading platform to the main list on the Oslo Stock Exchange (OSE)
• Mercell’s uplisting is expected to increase visibility in the marketplace, improve liquidity and broaden the shareholder base and ultimately enhance value for all stakeholders
• Mercell is well positioned to fulfil its strategic growth ambitions which is to more than double its annual recurring revenues in existing markets over the next five years
• Mercell’s vision is to become the preferred e-tendering and procurement platform in Europe

OSLO, 9 July 2021: Mercell Holding AS [MRCEL] today announces that that it will become a publicly listed company on the main list of the Oslo Stock Exchange (OSE). Mercell was admitted to the Euronext Growth trading platform in Oslo on exactly the same date in 2020 and is now successfully uplisted.

Tremendous growth journey for Mercell

– Uplisting the Mercell share to the main list on the Oslo Stock Exchange is an important milestone that builds on the positive momentum generated by the tremendous growth journey over the last couple of years: We have established a unique market position. We have become one of the largest B2B SaaS companies in the Nordic region, and we have established a solid foothold in Continental Europe, comments Terje Wibe, CEO of Mercell

– Today Mercell services approximately 30,000 customers. We believe there is high value yet to be captured in our existing markets and we see the potential to more than double ARR in these markets over the next five years, Terje Wibe adds

Seven-fold increase in revenues

During the last couple of years, Mercell has conducted 12 acquisitions and has a total annual recurring revenue (ARR) of approximately NOK 750 million, corresponding to a seven-fold increase in revenues in the same period. Today they are the market leader on the digital arena for public tendering in the Nordics.

At the core of Mercell’s business lies a highly scalable SaaS business model and digitalization of the procurement processes. The company kickstarted its European growth journey with the acquisition of Negometrix in the Netherlands in February, and has also gained a foothold in the US.

– This is a proud moment for the Board as a collegium. It is also a proud moment for Viking Venture in particular as we have been a lead investor in Mercell since 2018. In addition to increasing visibility in the marketplace, the Board anticipates this uplisting to improve the liquidity of the Mercell stock, broaden the institutional shareholder base and ultimately enhance long-term value for multiple stakeholders, says Joar Welde, Chairman of the board at Mercell

About Mercell Holding:

Mercell is a leading platform for public e-tendering, recently entering the procurement market. They service approximately 30.000 customers across 13 European markets and in the US.

The company’s unique marketplace simplifies the tender and procurement process and makes it safe and easy for buyers to find relevant suppliers for their tenders and daily purchasing needs. They also ensure suppliers find relevant business opportunities as well as tools for the suppliers to digitally receive and handle purchases from public and private buyers.

Mercell delivers services to public and private buyers and our goal is to become the leading software-as-a-service (SaaS)-platform for e-tendering and procurement in Europe.