Kinnevik invests in Pleo’s USD 200 million financing round to further build on its >10x return on investment to date
Kinnevik AB (publ) ("Kinnevik”) today announced that it has invested in Pleo’s USD 200m primary funding round. Kinnevik’s investment amounted to USD 25m in a blend of primary and secondary shares. The funds raised will be used to extend Pleo’s product offering beyond expense management towards a holistic suite of financial tools to clients. The funding round values Pleo at USD 4.5bn pre-money, around 180 percent higher than the valuation reflected in Kinnevik’s most recent Interim Report, and corresponds to a return on Kinnevik’s aggregate investment exceeding 10x over a three-year time span, before taking today’s announced investment into account.
For further information, visit www.kinnevik.com or contact:
Torun Litzén, Director Investor Relations Phone +46 (0)70 762 00 50 Email press@kinnevik.com
Email: press@kinnevik.com
Kinnevik’s ambition is to be Europe’s leading listed growth investor, and we back the best digital companies for a reimagined everyday and to deliver significant returns. We understand complex and fast-changing consumer behaviours, and have a strong and expanding portfolio in healthtech, consumer services, foodtech and fintech. As a long-term investor, we strongly believe that investing in sustainable business models and diverse teams will bring the greatest returns for shareholders. We back our companies at every stage of their journey and invest in Europe, with a focus on the Nordics, and in the US. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.