Experienced investors and a triple Vasaloppet champion invest in fast-growing startup — oversubscribed despite Corona
Race.se has in a short time become Sweden’s largest endurance race platform and in the last six months has expanded the business to 29 countries. Now Race 2 Race AB, the company behind Race.se, closes an oversubscribed investment round in the middle of the ongoing Corona pandemic. The company strengthens its balance sheet with over SEK 5mn and is preparing to continue the growth journey with the goal of becoming the choice for race participants in the world.
We are extremely proud of our growth journey so far and it feels incredible to be able to close an investment round in these times. It’s been a tough job, but we’ve had the support of our investors throughout the process. Now we can focus on developing our business and our international expansion, says Johan Jakobsson, CEO of Race 2 Race AB.
In addition to existing investors, the company also brings in several well-known investors and sports profiles including the triple Vasaloppet winner, Daniel Tynell, and the newly started co-investment risk company Cross Nordic Capital, which is a network of experienced angel investors from Keiretsu Forum Nordics. The co-investment risk company invests in early stages in startups with great potential where they can take an active role and utilize the network’s competence network.
Race.se is on an impressive journey with rapid development, growth, international expansion and, above all, a great potential in the business model. From the first meeting, the revenue model has been clear and the go-to-market strategy as well. In addition to investing in financial resources, we will also actively contribute expertise to help the company during the growth journey, says Anette Nordvall Managing Partner at Cross Nordic Capital.
Despite the pandemic leaving deep footprints in the endurance race industry, Race.se has been able to adapt to the situation by quickly opening up the platform for virtual races. Among other things, the platform can boast of being a partner to Sweden’s largest virtual race, Coronamilen, with almost 9500 participants.
Race.se is a digital platform for endurance races where the company has the ambition to build the world’s best community for race participants. The platform has in a short time expanded to all the world’s continents with global agreements with, among others, the triathlon series, the XTRI World tour, and the world series within Swimrun, ÖTILLÖ. The service is currently taking entries for over 700 races and will have over 100,000 registrations through the system by 2020.
Contact
Johan Jakobsson, CEO Race 2 Race AB
Email: johan.jakobsson@race.se
Tel: 46 (0) 708–88 52 62