Verdane partners with Sitoo, the leading Unified Commerce Platform vendor in Scandinavia to accelerate global expansion plan

Verdane, the European specialist growth investment firm, has made a significant minority investment in Sitoo, the leading Unified Commerce Platform (UCP) software vendor in Scandinavia. The partnership is aimed at accelerating Sitoo’s ambitious global expansion plans, while reinforcing its leadership position in the Nordics and UK.
Verdane partners with Sitoo, the leading Unified Commerce Platform vendor in Scandinavia to accelerate global expansion plan

Sitoo offers a digital operating platform for mid-market and enterprise retailers with a significant physical store footprint and complex operations across multiple channels and countries. Its flagship product operates as a system of records for its customers, taking over workflows traditionally fulfilled by Enterprise Resource Planning systems, as well as enabling new use-cases that improve the in-store experience. Sitoo has achieved a remarkable 100% growth in Annual Recurring Revenue (ARR) over the past two years to SEK 125 million SEK in 2024F.  With leading global brands like Levi’s, Skechers, Nudie Jeans, and RAINS, as well as global compliance capabilities in over 40 countries, Sitoo is well-positioned to expand its operations and be a trusted partner to retailers globally. 

“We have seen Sitoo deliver on its growth ambitions with best-in-class execution by Jens and the team since we first met in 2019. Back then they were a local Swedish player with big ambitions and has now become the clear market leader in the Nordics and we look forward to partnering with the team to help build the business into a global category leader,” said Pål Malmros, Partner at Verdane.   
 
“Partnering with Verdane marks a significant milestone in the Sitoo journey to becoming a global leader in retail technology, having established ourselves as a trusted partner to leading brands,” said Jens Levin, CEO & Co-founder at Sitoo. “Their deep expertise in scaling software businesses and their belief in our vision make them the perfect partner for our next growth phase. Together, we will accelerate our global expansion plans, empowering retailers worldwide to transform how they operate and serve their customers in an ever-evolving market.”  
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Verdane
Verdane
Stockholm, Sweden
Verdane is a specialist growth buyout investment firm that partners with tech-enabled and sustainable businesses that help to digitalise and decarbonise the European economy. Verdane funds have the most flexible mandates in the industry. The firm can invest as a minority or majority investor, replacement or growth capital, in single companies or in portfolios of companies. Verdane has over €8 billion in assets under management and its funds have made more than 200 investments in fast-growing businesses since 2003. Verdane’s team of over 150 investment professionals and operating experts is based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo and Stockholm, and combines deep sector expertise with deep local networks and presence in core European markets. Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy. Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
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