In March 2020, Silicon Canals revealed during an exclusive interview with Viktor Stensson, CEO & co-founder of Bokio, that the AI-based bookkeeping tool is looking to raise funding this year. Now the news is just in that the Swedish startup has announced a merger with its Stockholm-based competitor, Red Flag and has also got a capital injection of €7.4 million. The investment was led by existing investors including Creandum (early backers of Spotify) and European financial group, Svea Ekonomi.
Carl Manneh, co-founder of Mojang (creator of Minecraft), Red Flag’s existing investors – technology entrepreneur Anders Ström, angel investor Staffan Persson and asset management firm Öhman Group – and Red Flag co-founders Mattias Söderhielm and Mikael Pawlo also participated in the round.