The book ecommerce platform industry in the Nordics focuses on digital distribution of books, audiobooks, and ebooks. Here, companies range from subscription services providing vast libraries for customers to niche platforms specializing in educational content. As consumer preferences shift towards convenient digital solutions, this sector is poised for growth. The rise of mobile reading and audio-driven content indicates a promising increase in user engagement. Innovative startups and established entities alike are vying for market share, adapting their offerings to meet the evolving needs of readers in a tech-savvy Nordic region.


The investors featured in this list include a mix of corporate and private equity firms, primarily located in Stockholm and Oslo. With founding dates ranging from 1839 to 2020, their sizes vary from small teams to large enterprises. Collectively, they made an impressive total of 49 investments in the book ecommerce platform sector in 2024. Noteworthy names include Storytel, a corporate investor in audiobooks, and EQT Group, a robust player in private equity, representing varied interests within the industry's growth trajectory.


Top 15 Book Ecommerce Platform Investors in the Nordics


1. Verdane

  • Website: verdane.com
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1985
  • Headcount: 51-200
  • Number of deals in 2024: 7
  • LinkedIn: verdane-capital

Verdane is a private equity investment firm based in Oslo, Norway, founded in 1985. The firm specializes in growth equity investments in technology-enabled companies, providing capital and hands-on support to help businesses scale. Verdane focuses on digitalization and decarbonization trends, primarily targeting technology companies looking to enhance their market position and operational efficiency. Notably, Verdane has invested in Momox, Europe's largest re-commerce company for used goods, which includes books among its offerings. This acquisition highlights Verdane's engagement in the book ecommerce sector. Additionally, they have participated in various funding rounds for other companies, showcasing their active role in supporting growth across different industries.


2. Kinnevik

  • Website: kinnevik.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1936
  • Headcount: 11-50
  • Number of deals in 2024: 10
  • LinkedIn: investment-ab-kinnevik

Kinnevik is a Stockholm-based investment company founded in 1936, focusing on partnering with innovative entrepreneurs across various sectors, including healthcare, software, marketplaces, and climate tech. They provide both capital and operational support to help companies scale and create long-term value. Kinnevik has been involved in several notable transactions in the ecommerce space, such as their participation in funding rounds for Konga Online Shopping, a Nigerian ecommerce platform, where they contributed to multiple funding rounds from seed to Series C, indicating a strong commitment to the growth of ecommerce in emerging markets. Additionally, Kinnevik participated in funding for Linio, a Latin American ecommerce platform, which further showcases their engagement in the ecommerce sector. Although these platforms are not specifically focused on books, their involvement in the ecommerce marketplace suggests a potential interest in book ecommerce platforms as well.


3. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in various investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the book ecommerce platform context, particularly through their involvement with Storytel, where they acquired a substantial stake and participated in a directed share issue to raise funds for the company. This positions EQT as a key player in the digital book market, reflecting their commitment to investing in innovative platforms within the industry.


4. Storytel

  • Website: storytel.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2005
  • Headcount: 501-1000
  • LinkedIn: storytel

Storytel AB is a corporate investor based in Stockholm, Sweden, founded in 2005. It operates as a subscription service offering a wide range of audiobooks, e-books, and podcasts, catering to consumers seeking convenient access to digital reading and listening materials. Storytel has made significant investments in the publishing sector, acquiring a 70% majority interest in Forlagid, Iceland's leading publishing house, to enhance accessibility to Icelandic literature. Additionally, it acquired Audiobooks in November 2021, Mofibo in May 2016, and Gummerus Kustannus Oy, Finland's third-largest book publishing house, in September 2019. Notably, Storytel also acquired Norstedts Förlagsgrupp for £12.5 million in June 2016, further solidifying its position in the Swedish book market. These transactions reflect Storytel's strategy to strengthen its publishing operations and expand its digital literature offerings across various markets.


5. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises. Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Among its notable transactions, Almi invested in Once Upon Publishing, which raised $560,000 in a seed round in April 2018, indicating a direct interest in the book publishing sector. Additionally, Almi has made investments in other companies like Paperton, which, while not explicitly a book ecommerce platform, operates in the digital publishing space. This diverse portfolio showcases Almi's commitment to supporting innovative businesses, including those in the book industry.


6. Schibsted

  • Website: schibsted.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1839
  • Headcount: 5001-10000
  • Number of deals in 2024: 3
  • LinkedIn: schibsted-asa

Schibsted Media Group is a prominent media company based in Oslo, Norway, with a history dating back to 1839. Initially focused on publishing, Schibsted has transitioned into the digital marketplace sector, offering online platforms for classified ads and second-hand goods. Notably, Schibsted has made strategic investments in companies related to the book ecommerce platform industry, including a 10% stake in Riidr, a Copenhagen-based provider of a publishing platform for ebook readers, which they invested in during a Series A round in 2012. Additionally, they have invested in Poio, a company that raised funds for educational purposes, which may also intersect with the book industry. These transactions highlight Schibsted's commitment to empowering users through digital services, including those in the publishing and ebook sectors.


7. Seed Capital Denmark

  • Website: seedcapital.dk
  • Type: Venture Capital
  • Headquarters: Frederiksberg, Frederiksberg, Denmark
  • Founded year: 2004
  • Headcount: 1-10
  • Number of deals in 2024: 5
  • LinkedIn: seed-capital-denmark

Seed Capital Denmark is a venture capital firm based in Frederiksberg, Denmark, founded in 2004. The firm specializes in providing seed funding and advisory services to technology startups, particularly in sectors such as SaaS and Fintech. With a strong track record of successful investments, Seed Capital supports its portfolio companies from seed stage to exit. Notably, they have invested in Mofibo, a digital platform that raised funds in both seed and venture rounds, focusing on providing access to ebooks and audiobooks. This investment highlights their engagement in the book ecommerce sector, showcasing their capability to support companies that bridge technology and literature.


8. Visma

  • Website: visma.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1996
  • Headcount: 10001+
  • Number of deals in 2024: 16
  • LinkedIn: visma

Visma is a corporate investor based in Oslo, Norway, specializing in cloud-based software solutions for accounting, payroll, invoicing, and HR. Founded in 1996, Visma has a strong presence in Europe and Latin America, serving small and medium businesses as well as public sector organizations. In recent years, Visma has made significant acquisitions to bolster its e-commerce capabilities, including the acquisition of Myonlinestore, a company that assists businesses in setting up online stores, and Online Store, both in November 2021. These transactions highlight Visma's commitment to expanding its footprint in the e-commerce sector, which is relevant to the book ecommerce platform industry. Additionally, their acquisition of Brincr, which focuses on online wholesale software, further demonstrates their interest in enhancing digital commerce solutions.


9. Heartcore Capital

  • Website: heartcore.com
  • Type: Venture Capital
  • Headquarters: Copenhagen, Denmark
  • Founded year: 2007
  • Headcount: 11-50
  • Number of deals in 2024: 17
  • LinkedIn: heartcorecapital

Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies and focuses on building long-term relationships with entrepreneurs to support their growth. Heartcore has been involved in various transactions, including a notable investment in Mofibo, a digital reading platform that raised funds in a seed round in 2013. This investment highlights Heartcore's interest in the book ecommerce sector. Additionally, they have invested in Podimo, a platform for podcasts and audiobooks, which further demonstrates their engagement in the digital content space. Overall, Heartcore Capital is committed to providing capital and guidance to innovative companies, including those in the book ecommerce industry.


10. Bonnier Ventures

  • Website: bonnierventures.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2013
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: bonnier-ventures

Bonnier Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2013. As the investment division of the Bonnier Group, they focus on providing capital and management support to promising companies in structurally growing industries, including healthcare, media, sustainability, fintech, and SaaS. Notably, Bonnier Ventures has invested in Kitab Sawti, an Arabic audiobook platform, which raised $6 million in Series A funding in 2019. This investment highlights their engagement in the book and audio content market. Additionally, they have participated in various funding rounds for companies like Pamono, a design marketplace, and MatHem, a Swedish online grocer, showcasing their diverse investment portfolio. Their strategic approach leverages an extensive network and expertise to foster long-term growth for their portfolio companies.


11. Cni


CNI Advisory AB is a venture capital firm based in Stockholm, Sweden, founded in 2012. The firm specializes in funding and supporting entrepreneurial businesses across various sectors, including technology, finance, and e-commerce. Cni focuses on creating sustainable shareholder value by providing capital and strategic guidance to its portfolio companies. Notably, Cni has invested in Nextory, which raised approximately $19.2 million in a venture round in November 2020. Nextory is a digital reading subscription service that allows users to access a wide range of books, making it a significant player in the book ecommerce platform industry. Other investments by Cni include Babyland Online Nordic, Barnebys, MatHem, and Budbee, which, while not directly related to books, showcase the firm's diverse investment strategy.


12. Aggregate Media

  • Website: aggregatemedia.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2002
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: aggregate-media

Aggregate Media is a venture capital firm based in Stockholm, Sweden, founded in 2002. The firm specializes in media for equity investments, providing media space as growth capital to small and medium-sized businesses in Sweden, Norway, and Finland. Aggregate Media enhances its clients' marketing capabilities through tailored media consulting and campaign analysis, helping them to increase their market value and expand their operations. Notably, Aggregate Media has invested in Nextory, which raised approximately $2.26 million in a venture round in 2016, and Readly, which raised over $14.5 million in a Series B round in 2017, as well as $2.35 million in a seed round in 2016. These investments highlight Aggregate Media's involvement in the book ecommerce platform sector, particularly in digital reading services.


13. Nordic Capital

  • Website: nordiccapital.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 10
  • LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, including healthcare and technology, and has a strong focus on creating long-term value and sustainability in its investments. Notably, Nordic Capital has been involved in significant transactions within the e-commerce space, such as the reacquisition of Ellos Group AB, a leading Nordic e-commerce group, which they previously owned until 2019. This transaction highlights their interest in the e-commerce sector, which could include book sales. Additionally, their investment in Jotex, a key player in the Scandinavian home textile and decoration market, further demonstrates their capability to manage diverse e-commerce platforms. Their strategy of partnering with management teams to drive growth and operational improvements positions them as a potential investor in the book ecommerce platform industry.


14. Accent Equity


Accent Equity is a private equity firm based in Stockholm, Sweden, founded in 1994. The firm specializes in investments in private Nordic companies, focusing on enhancing the value of its portfolio through strategic management and investment to create sustainable growth and superior returns. Notably, Accent Equity has made significant investments in the book retail sector, including the acquisition of a 65% stake in Akademibokhandeln, Sweden's leading bookstore chain, which had combined sales of SEK 1.7 billion in 2014. This acquisition reflects their commitment to the book industry. Additionally, they acquired ScandBook Holding in 2006, further solidifying their presence in the book market. While they have diversified investments across various sectors, their specific focus on book-related companies makes them a relevant player in the book ecommerce platform space.


15. Industrifonden

  • Website: industrifonden.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1979
  • Headcount: 11-50
  • Number of deals in 2024: 9
  • LinkedIn: industrifonden

Industrifonden is a venture capital fund based in Stockholm, Sweden, founded in 1979. The fund specializes in investing in early-stage companies, particularly in the fields of Deep Tech, Life Science, and Transformative Tech. Industrifonden aims to create long-term value through partnerships with passionate founders, providing both financial support and strategic guidance. Notably, Industrifonden has been involved in several funding rounds for Nextory, a Swedish e-book and audiobook subscription service. They participated in funding rounds in 2016, 2017, 2020, and 2022, contributing to Nextory's growth and expansion in the publishing industry. This consistent investment in a key player in the book ecommerce platform space highlights Industrifonden's relevance to this sector.



Book Ecommerce Platform Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
VerdaneOslo, Oslo, Norway51-20019857
KinnevikStockholm, Stockholm, Sweden11-50193610
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
StorytelStockholm, Stockholm, Sweden501-100020050
AlmiStockholm, Stockholm, Sweden201-50019947
SchibstedOslo, Oslo, Norway5001-1000018393
Seed Capital DenmarkFrederiksberg, Frederiksberg, Denmark1-1020045
VismaOslo, Oslo, Norway10001+199616
Heartcore CapitalCopenhagen, Denmark11-50200717
Bonnier VenturesStockholm, Stockholm, Sweden1-1020131
CniStockholm, Stockholm, Sweden1-1020121
Aggregate MediaStockholm, Stockholm, Sweden1-1020021
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
Accent EquityStockholm, Stockholm, Sweden11-5019944
IndustrifondenStockholm, Stockholm, Sweden11-5019799


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