Standout Capital invests in Setly

Standout Capital has entered into a partnership with the owners of Setly, a technology oriented, fast growing provider of accounting and payroll services. Standout will become the new majority owner while the CEO and previous owners will remain as significant shareholders. This partnership will strengthen the company's prospects for continued growth in the Nordic region, both organically and through acquisitions.

Setly is a technology-oriented accounting and payroll services provider that, with its own custom-built technology layer on top of ERP systems like Fortnox, Netsuite, and other local systems, optimizes processes and workstreams for clients and accounting consultants. Setly has a clear vision of challenging conventional methods and offerings in the industry, and to build the next generation accounting and payroll services provider in the Nordics. Setly currently serves over 300 customers.

Henrik Åhlin, founder and CEO of Setly:

"It feels incredibly exciting to have the opportunity together with Standout to continue building and scaling the Nordic expansion of the accounting and payroll services provider of the future. Through this partnership, we further establish Setly as a true digital challenger to the incumbent Nordic providers. With our own technology, we have tremendous opportunities to continue building technical solutions that simplify and optimize for our customers. Moreover, supported by our technology and set-up, we can now also start the transformation of the traditional consultant role into one that is more focused on higher value-add services. This is a transformation that has long been talked about in the industry but not yet accomplished by any competitor. Finally, through the partnership with Standout, we also have fantastic opportunities to consolidate parts of the Nordic market through acquisitions."

Klas Hillström, co-founder of Standout Capital:

"Setly has impressed us with its ability to leverage new technology powerfully, while Henrik Åhlin has built an organization with a strong culture. The company has had significant growth, and we believe that Setly's offering will continue to appeal to the market, with room for interesting acquisitions. We look forward working together with Henrik and his team to build a major, technology driven player in the Nordic market."