Foxaway, a Solna (Stockholm), Sweden-based provider of circular IT services, raised a majority investment from Nordic Capital.
The amount of the deal was not disclosed. Completion of the transaction is expected in Q3 2023 and is subject to customary closing conditions, including relevant regulatory approvals.
The company intends to use the funds for continued growth, and international expansion.
Led by CEO Martin Backman, Foxway provides circular IT services that help customers increase efficiency, business success, and reduce their tech footprint by recovering and remarketing IT devices and providing the infrastructure necessary to ensure a sustainable life-cycle. The company sources, finances, and refurbishes >1.5 million devices annually in the circular flow, avoiding 120 948 tons CO2e in 2022.
Foxway also has offices in Europe, and presence in Asia, and the US.
FinSMEs
19/06/2023