Mercell Holding AS is pleased to announce a successful completion of private placement with a total transaction of approx. NOK 850 million. The private placement attracted very strong interest from Norwegian, Nordic and international quality institutional investors and was more than 10 times oversubscribed excluding shares pre-allocated to cornerstone investors. Mercell secured backing from four cornerstone investors, Luxor Capital Group, DNB Asset Management, Swedbank Robur Fonder and Tin Fonder.
Funds raised 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.
The first day of trading on Merkur Market is expected to be about 9 July 2020 as long as Mercell gets the necessary approvals from Oslo Stock Exchange.
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.