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  5. TopCashback Acquires Refunder

M&A Deal Summary

TopCashback Acquires Refunder

On January 12, 2021, TopCashback acquired internet software and services company Refunder from eEquity

Acquisition Highlights
  • This is TopCashback’s 1st transaction in the Internet Software and Services sector.
  • This is TopCashback’s 1st transaction in Sweden.

M&A Deal Summary
Date 2021-01-12
Target Refunder
Sector Internet Software and Services
Buyer(s) TopCashback
Sellers(s) eEquity
Deal Type Add-on Acquisition

Target

Refunder

Stockholm, Sweden
Refunder is the major cashback site in the Nordics with over 600,000 members in Sweden and over 100,000 members in Poland. Refunder is channeling over SEK 1.4 billion YoY to its connected retailers and has become an important performance channel for more than 1,700 retailers in Sweden and Poland like H&M, Zalando, MediaMarkt, Hotels.com, Hemköp, Adlibris, CDON, Elon, NordicFeel, etc. Refunder was founded in 2013 and is based in Stockholm, Sweden.

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Buyer(S) 1

Buyer

TopCashback

Staffordshire, United Kingdom
Category Company
Founded 2005
Sector Internet Software and Services
DESCRIPTION

TopCashback is the most generous cashback shopping site. It helps its members save as much money as possible on their shopping by offering money back on everything they buy when clicking through the site thousands of brands available. TopCashback was founded in 2005 and is based in Staffordshire, United Kingdom.

DEAL STATS #
Overall 1 of 1
Sector: Internet Software and Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Sweden M&A 1 of 1
Year: 2021 M&A 1 of 1

Seller(S) 1

SELLER

eEquity

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2010
PE ASSETS 420M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

eEquity is a private equity firm focused on investing in Nordic internet and e-commerce companies. eEquity invests primarily in entrepreneur-led growth companies with potential to become market leaders. eEquity was formed in 2010 and is headquartered in Stockholm.

DEAL STATS #
Overall 8 of 9
Sector: Internet Software and Services M&A 1 of 2
Type: Add-on Acquisition M&A Deals 3 of 4
Country: Sweden M&A 5 of 6
Year: 2021 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-29 Royal Design

Stockholm, Sweden

Royal Design is the largest design and home furnishing online retailer in the Nordics and operates well-established online stores in key European countries. Royal Design was founded in 1999 and is based in Stockholm, Sweden.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-19 Sweef

Stockholm, Sweden

Sweef sells unique, affordable luxury furniture with high-quality materials and fabrics at a competitive price point under their own brand. Sweef was founded in 2011 and is based in Stockholm, Sweden.

Buy -
Mergr

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