SaaS Deal Briefing: Verdane Invests 300M SEK in Sitoo to Fuel International Expansion

As an entrepreneur and advisor with over 30 years of experience in corporate finance, private equity, and venture capital across London and the Nordics, I’m passionate about helping SaaS companies unlock their full potential. Through Scalex Growth Partners , we specialise in supporting SaaS, AI, and tech companies in scaling, securing investment, and maximising their valuation.

In this deal briefing, I’ll dive into the recent investment round for Sitoo —a great example of how strategic funding can propel a company to global success. This analysis combines insights into the transaction, Sitoo’s growth story, and the broader implications for SaaS founders and the investment landscape.

Overview

Sitoo, a Swedish SaaS company specialising in cloud-based point-of-sale (POS) systems for unified commerce, has raised 300M SEK in funding from the private equity firm Verdane. This investment marks a significant milestone in Sitoo's journey, propelling its expansion into the US, North America, UK, and Europe.

With a robust growth trajectory and Annual Recurring Revenue (ARR) reaching 125M SEK in 2024, Sitoo is firmly establishing itself as a leader in the Retail Tech SaaS space, delivering seamless integration across physical and digital sales channels for retailers.

Key Deal Details

• Funding Amount: 300M SEK
• Investor: Verdane, renowned for investments in high-growth SaaS and e-commerce companies.
• Sub-Sector: Retail Tech SaaS — Cloud-based POS systems that enable unified commerce.
• Pre-Money Valuation: ~814M SEK
• Post-Money Valuation: ~1,114M SEK
• Ownership Stake: Verdane is estimated to acquire ~27% ownership as part of this funding round.
• Company's ARR: 125M SEK (as of November 2024).
• Purpose of Funding:Expansion in the US and North America.Strengthening presence in the UK and Europe.
• Product Offering: Cloud-based POS system enabling real-time integration across physical and digital sales channels, creating seamless customer experiences.

Sitoo's Financial Snapshot

Here’s a summary of Sitoo's financial performance and key SaaS metrics:

The 2024 ARR of 125M SEK represents a 33% growth from the prior year, reflecting Sitoo’s continued scaling success.

Valuation Insights

Using a moderate-growth SaaS multiple derived from the 2023 funding round (6.45x–6.57x ARR), the 2024 deal aligns with industry benchmarks:

• Pre-Money ARR Multiple: ~6.5x
• Post-Money ARR Multiple: ~8.9x

These multiples reflect Sitoo’s strong position in the Retail Tech SaaS market, its rapid growth, and its improving profitability. We are estimating these.

Verdane's Perspective

According to P?l Malmros , Partner at Verdane, “We’ve seen Sitoo deliver on its growth ambitions with first-class execution since 2019. What started as a local player with big ambitions is now a Nordic market leader with the potential to become a global category leader.”

Sitoo’s Vision

“Our mission has always been to deliver technology that exceeds expectations, enabling retailers to unify their sales channels and create outstanding customer experiences. This partnership with Verdane marks the next chapter in our journey to challenge industry giants and lead the retail tech space globally,” said Jens Levin , CEO and co-founder of Sitoo.

Why This Deal Matters

1. Strong Growth Momentum: With 100% ARR growth over the past two years, Sitoo demonstrates exceptional scalability in a competitive market.
2. Product Leadership: Sitoo's cloud-based POS system integrates physical and digital sales channels in real-time, meeting the evolving needs of modern retailers.
3. Market Opportunity: Retailers worldwide are shifting to unified commerce platforms, and Sitoo is strategically positioned to capture this demand.
4. Global Ambitions: Verdane’s backing will enable Sitoo to expand its footprint in key international markets.

Conclusion

Sitoo’s journey highlights the importance of product innovation, strategic funding, and a bold approach to international expansion. This deal with Verdane signals confidence in Sitoo's ability to challenge industry giants and redefine retail technology globally.

As SaaS valuations and deal dynamics evolve, this transaction underscores key trends in the Nordic SaaS ecosystem. For CEOs and founders aiming to scale internationally, Sitoo offers a compelling case study on aligning growth with investor confidence.

Your Thoughts?

What do you think about Sitoo’s bold move and Verdane’s investment? Share your insights or questions in the comments—I’d love to hear your perspective!

Best

Ashley

At Scalex Growth Partners, we specialise in helping SaaS, AI, and tech companies scale effectively, secure investment, and maximise their valuation. Whether you’re preparing for your next funding round, optimising your growth strategy, or exploring ways to improve your Rule of 40 score, we provide proven methodologies and actionable insights to drive success.

With over 30 years of experience in corporate finance, private equity, and venture capital, I’m passionate about supporting founders in unlocking their company’s full potential.

Let’s talk about how we can support your journey. Reach out to explore how Scalex can help your business achieve its growth and valuation goals.