Mercell, a Viking Venture portfolio company, has announced its intention to apply for listing on the Merkur Market Stock Exchange. The first day of trading will be mid-July. The company intends to raise NOK 450 Milion in gross proceeds. At the same time certain existing shareholders will sell shares for approximately NOK 400 Million. The company has already secured NOK 500 Million from cornerstone investors Luxor Capital Group (US), DNB Asset Management (NOR), Robur (SWE) and TIN Fonder (SWE).
Funds raised from the IPO will be used to finance the company’s continued organic growth as well as further acquisitions in the European market. In addition, the company will look to strengthen sales and marketing as well as research and development. Viking Venture has been the lead investor in Mercell since 2018.
Mercell is the leading supplier of digital bidding and procurement tools in Northern Europe. Mercell’s platform supports and simplifies the public procurement process and improves the interaction between both purchasers and suppliers. Through its headquarters in Oslo, Norway Mercell has expanded into Europe and currently have 250 enthusiastic employees in 10 different countries. More than 40,000 purchasers and suppliers currently utilize the platform on a daily basis.
–We are very pleased to announce our intention to list on the Merkur Market Stock Exchange. This is a milestone which brings us one step closer to our vision of becoming the preferred supplier of digital bidding and purchasing tools across Europe. We are very excited for the future and look forward to the continued growth of Mercell, says Terje Wibe, CEO of Mercell (picture).
–We have had an exciting journey with Mercell ever since we joined the company as owners in 2018. The last few years we have had particular focus on strengthening the management, tech and sales and marketing teams as well as completing several acquisitions to really strengthen Mercell’s position in the Nordics. The company is well positioned for further growth and we believe an IPO on the Merkur Market Stock Exchange will enable the company to take further steps towards becoming the leading player in Europe, says Joar Welde, Partner at Viking Venture and Chairman of Mercell.