Swedish Startup Space

Sunday in #swedentech: Spotify hits 10m subscribers, Safello launches doc recognition and Nordic VC funding hits historic high

Written by on May 25

Each Sunday, we bring you Swedish technology companies who’ve been written about, or mentioned by larger international press. This week,  Spotify hits 10m subscribers, Safello launches doc recognition and Nordic VC funding hits historic high. 

Spotify hits 10 million subscribers

The Internet streaming music service Spotify has announced that it has reached 10 million premium subscribers. The service also has also has 40 million monthly active users in 56 countries.

Swedish bitcoin startup Safello implements document recognition tech

Those who live in Sweden use Mobile Bank ID to book doctors’ appointments, make bank transfers – and buy Bitcoins. Having adopted Mobile Bank ID to streamline identifying its Swedish customers earlier this year, Swedish bitcoin reseller Safello since integrated an identity document verification service to speed up the purchase of Bitcoins through their site. 

VC funding for Nordic tech startups hits ‘historic high’

2013 was a bumper year for Nordic startups, with a record 179 investments made in startups from the region, totalling just over €500m. Thanks in part to Spotify’s $250m (€183m) round led by Silicon Valley’s TCV late last year, Swedish startups soaked up about 67 percent of funding in the Nordics in 2013 totalling €335 million — more than the entire region attracted in 2012, according to numbers compiled by Swedish VC firm Creandum.

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