12 November 2018
Sitoo Launches International Expansion
The cloud-based POS system provider Sitoo is expanding significantly. Swedish retail chains with stores around the world have been the focus so far, and customers such as Lagerhaus, Åhléns, Adlibris, Designtorget, Nudie Jeans, Björn Borg and J.Lindeberg have chosen the unique solution. Sitoo now receives SEK 70 million and launches an offensive international expansion.
Jens von Bahr, founder of Evolution Gaming and Peter Dahlberg, CEO of Animal Hospital Group AniCura, together with Jonas Engwall, invests SEK 70 million in Sitoo. Jonas Engwall is the president of Sitoo and now all three will be involved in the company's board.
Sitoo provides a point of sale system for retail chains that combine e-commerce with physical stores. The world-leading platform utilizes the power of digitalization and accommodates consumers' new ways of shopping with omnichannel, mobile point of sale and self-checkout..
- Retail is going through tremendous change, where many of the future winners will be the ones that best can match customer expectations of digital solutions with the physical experience in the store. Sitoo has a great position to contribute positively to this change and it’s going to be fun and exciting to take part in this journey, says Peter Dahlberg.
- Sitoo has an excellent strategic position in the market and rightly executed, Sitoo has every chance of becoming a global leader in its niche. This in combination with the founders' passion and focus made the choice to engage in Sitoo easy, says Jens von Bahr.
Over the past year there has been a growing interest from international retail chains and partners. Therefore, an international expansion is now being launched with the establishment of sales organizations in several European countries.
- There’s a revolution in which the physical and digital customer experience blends together. The Sitoo platform is scalable and easy to implement regardless of language or legal requirements and it gives us every chance to succeed globally. It's great that we now are on the offensive together with three documented talented investors with extensive experience building successful international companies, says Jens Levin, CEO and founder of Sitoo.