Press release -
Round2 Capital Partners first investment in Sweden - Shortcut Labs, the creators of Flic smart buttons
Vienna 10 July, 2018
Round2 Capital Partners (EuVECA) GmbH & Co KG announces the signing of an investment agreement with Shortcut Labs AB, Stockholm Sweden. Round2 Capital Partners will provide financing to Shortcut Labs AB in the form of an EUR 600,000 revenue-based loan, an attractive investment alternative that avoids dilution of existing shareholders. This is the fund’s first investment in the Swedish market and the company will use funds to accelerate sales growth.
“With the launch of the Flic Hub, as a complement to the eco-system around the flic smart button, Shortcut Labs is providing even more value in their rapidly growing B2B segment, providing service providers in different industry verticals the simplicity and multifunctionality of smart buttons that ultimately save costs & increase revenue. We are very proud to become associated with the Shortcut Lab success story.” Says Christian Czernich, Managing Partner at Round 2 Capital Partners.
Round2 Capital Partners, a European Venture Capital fund (EuVECA) and a registered Alternative Investment Fund based in Austria, was established in 2017 and is the first regulated fund of private and institutional investors offering revenue based loans in its target markets Germany, Sweden, and Austria.
“Round2 has introduced a model that we believe will provide great value to Swedish companies in the scale-up phase by adding an alternative to traditional fundraising that has been lacking before, we look forward to working with them. Revenue-based loans are particularly well suited to finance fast growing technology-based companies built on digital business models in a scaleup phase like we are. This offers us entrepreneurs the possibility to raise risk capital without diluting our ownership control and at conditions that are more favorable than alternative methods of financing. The repayment of a revenue-based loan fluctuates with sales and is not dependent on an exit.” Says Elin Härén CEO at Shortcut Labs AB.
Shortcut Labs exists so that people can do things with a simple push of a button. By releasing their first product “Flic” in 2014, the company established the smart button market and is pioneering and leading it since. Recently Shortcut Labs launched the Flic Hub, a solution that allows hundreds of individually configured wireless buttons to function in a space at a fraction of the cost of existing solutions. The company sells its products directly to consumers via
www.flic.io and in retail stores around the world. Its business offer (flic.io/business) let service providers create buttons to any application and has been the main source of the company’s rapid growth.
Flic is a Swedish tech company with expert competence in wireless communication and commercialization of innovations. It is the company behind the smart button and products including Flic, Powered by Flic and Flic Hub.