Investments in Stockholm tech companies hit new record highs

Interest and investment in Stockholm continues to rise, with nearly three times as many investments in Stockholm tech companies in 2016 than the previous year. According to a breakdown by The Nordic Web, a total of 247 investments were made in 2016 compared to 90 investments during 2015.

In terms of money invested, Stockholm also keeps hitting new record highs with $1.4 billion invested in 2016 compared to the $892 million that was invested during 2015.

“2016 has been another amazing year for Stockholm’s startup scene. Investments have increased considerably since last year, and again we see Fintech as the most popular vertical for funding. During 2017 we are likely to see Fintech increase even more due to a new Fintech hub that is launching early in the year,” says Joseph Michael, Business Development Manager at Invest Stockholm.

Other interesting findings in the data gathered by The Nordic Web are that Health & Wellness and Gaming are still strong verticals, and that areas such as the Internet of Things and especially Enterprise SaaS had a strong year, reaching the top 10 areas for investments.

In relation to the other Nordic countries, Stockholm strengthens its position as the capital of Scandinavia, representing 54% of the total amount invested in the Nordics.

“Incredibly, Stockholm is still experiencing dramatic growth in investments, with its importance and position as the Nordic's dominant hub only increasing. In 2016, 1 in 3 investments that were made in the Nordics were made in Stockholm, up from the 1 in 4 in 2015. This is despite investment increasing across the Nordics, meaning that Stockholm continues to outpace them all,” says Neil Murray, CEO of The Nordic Web.

Stockholm continued to capture the interest of investors around the world, including prestigious International investors. Significant investments were made by Lakestar, Point Nine Capital, Blue Yard Capital, GP Bullhound, Draper Esprit, Balderton, Index, Salesforce Ventures and 500 Startups.