Press release -
Software investor Monterro increases focus on Norwegian companies. Opens office in Oslo.
Leading Nordic B2B software growth investor, Monterro, opens office in Oslo. Since it was founded in 2012, Monterro has invested in the fast-growing software industry in Sweden. Now it’s putting increased focus on Norwegian software companies, to help them accelerate growth and international expansion.
There’s an enormous potential for Norwegian software companies to accelerate their growth. Between 2018 and 2019, companies running an international business grew by 40% – while those that stayed in Norway only grew by 20%. Considering that only one-third of Norwegian software companies run an international business, there’s a huge opportunity for ambitious, forward-thinking organisations to expand and grow.
For eight years, Monterro has helped Swedish software businesses grow internationally, and now it plans to do the same in Norway. Monterro manages 4.3 billion SEK, and an extensive part of the latest round of funding of 2.5 billion SEK is earmarked for investment in Norwegian software companies.
“Norwegian software companies have huge potential and the desire to compete with global players, and our mission is to help them succeed. We’re looking forward to entering the Norwegian software market, and we’re confident our business model and expertise will be a great fit. We’re in a unique position as we’re not a traditional investment firm. At Monterro, we’ve all built successful software brands, so we can offer our portfolio companies a true partnership and give them the hands-on support they need to tackle the inevitable challenges that arise during the growth journey. Plus, unlike other firms that only invest other people’s money, the Monterro partners have a personal stake in each and every investment. 30% of the capital we invest comes from our own pockets,” says Monterro CEO, Gustav Lagercrantz.
Since 2012, Monterro has helped many Swedish software businesses grow, such as Lime, Itello and Palette. And with extensive experience from expanding businesses into other markets, like Episerver and Protect Data, Monterro is best placed to give Norwegian companies the capital and strategic support they need grow.
“Compared to most firms that only invest capital, we offer something different. The companies we partner with want the strategic and operational experience to help them grow, as well as the capital. With our internal expertise and experience, we can offer this – going beyond what traditional investment companies offer. We know there are many Norwegian software businesses that want to start their expansion journey – and we’re ready to help them,” says Lagercrantz.
“Like all Nordic businesses, Norwegian software companies have a small home market – which is why it’s critical to consider market entry from the start. Whether it’s expanding into Sweden, the UK, Germany, or the U.S., we have the expertise to help companies on their journey to global growth,” says Roald Hunvik, partner and manager for Monterro Norway.
Monterro is the leading B2B software investor in the Nordics, with a mission to turn Nordic software companies into market leaders and global players within their niches. Our team has successfully developed and led companies such as Pointsec, Episerver and Orc Software – and we bring this operational experience to the Monterro portfolio, supporting the companies in all aspects of growth. We also bring significant financial commitment to our partnerships, with 30% of capital coming from our partners and employees.