Voyado’s new majority owner to fund UK growth

Voyado has a new owner with investment firm Viking Global Investors’ afflilates taking a majority stake in the Swedish retail technology platform for an unreleased sum.

Voyado said the investment “marks a significant milestone in [our] expansion drive, particularly in the UK market, [and]  “will strengthen [our] ability to scale product development with a continued focus on delivering measurable business value to the retail sector”. 

Completion of the transaction is subject to customary regulatory approvals.

Having established itself as a major retail technology provider in the Nordics, the company has recently expanded into the UK, Benelux, and Germany “helping retailers and brands turn customer and product data into loyalty, optimise e-commerce performance, and personalise the shopping experience across channels”.
 
Since 2022, Voyado said it has achieved an average annual growth rate of 32% and is now a profitable business. This strong trajectory, combined with continued international expansion and a rapidly growing customer base, has resulted in a company valuation of SEK 3.5 billion (£270 million).
 
“We’ve never tried to be everything to everyone – we build solutions for a sector we know inside out. That focus on retail is exactly what made Viking see the potential in us,” said Voyado co-founder Johan Bäckarlin. 
 
Over the past 18 months, Voyado said it has signed partnerships with several high-profile UK retailers across fashion and lifestyle, including Cutler and Gross, Pour Moi, Ellis Brigham, and Silver Cross. 

Bäckarlin added: “With a local team in place and growing commercial traction, the company aims to scale further in the UK by providing retailers with AI-driven solutions for loyalty, personalisation, and product discovery, all tailored specifically for the retail sector.”

Voyado CEO Erica Sandelin Ekelund added: “[Our] story in the UK is quickly gaining pace. We’re seeing strong demand among retailers for technology that delivers real results, from loyalty and personalisation to smarter product discovery. More businesses are recognising the real impact of loyalty. Our job now is to help even more retailers see the same results.”