Blinto Receives €10.6 Million Investment

Sweden-based Blinto announced that it has received €10.6 million in a new round of financing. The investment came from Verdane, a Norway-based growth equity investment firm. Verdane is a growth equity investment firm that seeks to create jobs by working as a partial and controlling shareholder in a single business or group of companies. The company creates projects within two main development themes focusing on digitalization and decarbonization. Since 2003, it has made more than 150 investments in fast-growing companies, totaling more than €4.5 billion in commitments.

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Blinto

Sweden-based Blinto is an online auction platform founded in 2018 and led by CEO Richard Nilsson. The company connects customers and sellers to trade used construction machinery, light commercial vehicles and tools. Blinto receives a commission on every transaction made on the website, which is an important source of revenue for the business.

It also provides buyers using the platform with technical specifications, detailed images and video recordings that accurately show the condition of the object. This helps them make safe choices. Verdane ensures that Blinto's next development step is to scale technology-enabled companies, consolidating market superiority. It will also benefit from its extensive experience in expanding its footprint in Europe.

The Norwegian investor wants Blinto to strengthen its offering, improve its product-data resources, increase its broker sales force and expand across Europe. For this, it is considering enlisting the help of Elevate, a specialist team of in-house organizational experts.