Voyado gains US majority shareholder: Focus on growth in Europe

Retail technology platform Voyado has a new majority shareholder. Funds managed by the global investment firm Viking Global Investors LP (Viking) are taking over, the company announced today in a press release. Existing shareholders – Novax, Verdane, eEquity and H&M Group – remain involved, as do Voyado’s founders. With the capital injection, the company aims to accelerate its product development and further expand its position in Europe. The transaction is subject to regulatory approval.

Voyado, with its Benelux headquarters in Amsterdam, helps brands turn customer interactions into sustainable loyalty with AI-driven tools for personalisation, marketing and loyalty programmes. The company aims to become Europe’s most popular retail partner. It claims to be the market leader in Scandinavia and is experiencing strong growth in the Benelux, Germany and the UK, among others. The platform is used by more than 400 retailers, including H&M, Dille & Kamille, Samsøe Samsøe, The Sting and Xenos.

Viking, headquartered in the US state of Connecticut, was founded in 1999 by Norwegian businessman Ole Andreas Halvorsen. The asset manager manages more than 50 billion dollars in capital and invests globally in both public and private companies.

Voyado sees strong growth and valuation

In the past three years, Voyado grew by an average of 32 percent per year. Thanks to this sustained revenue growth and international expansion, the company is now profitable and valued at approximately 3.5 billion Swedish krona.

"We don’t try to be everything to everyone; we build solutions for a sector we know inside and out," said Mathijs Ruigrok, sales director Benelux at Voyado. "That strict focus on retail is precisely what made Viking believe in us."

Market in transition

Viking’s investment comes at a time when the retail technology market is in transition. The press release underlines that traditional, outdated systems are giving way to modern, flexible solutions that help retailers operate in a data-driven and AI-ready manner. Voyado’s user-friendly and integrated platform responds to this need, resulting in a rapidly growing customer base.

"In challenging times, customer loyalty becomes even more important," said Erica Sandelin Ekelund, CEO of Voyado. "Our products help retailers grow cost-effectively and maximise the value of returning customers. In the Nordics, more than 70 percent of our clients’ revenue comes from loyal customers – a clear signal that loyalty makes all the difference."