PARIS — H&M Group has taken a minority stake in Swedish customer experience and loyalty platform Voyado.
Terms of the deal were not disclosed. Swedish media reported the investment at 6.5 million euros with a valuation of 258 million euros.
The strategic investment will position Voyado to expand into new markets including Germany and the U.K. It currently operates in its home country of Sweden as well as Belgium, Denmark, Finland, Luxembourg and Norway.
The Swedish fast-fashion conglomerate, parent company to its flagship brand H&M plus Arket, Cheap Monday, Cos, & Other Stories and Weekday, among other high street brands, is a longtime customer of Voyado’s.
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“We are really impressed by Voyado’s journey so far. After rolling out their solution globally, we’ve seen firsthand the difference it makes in creating value at scale. That’s why it makes perfect sense for the H&M Group to deepen our partnership through an investment, which will further support Voyado’s future growth and strengthen their offering for other enterprise customers,” said H&M Group Ventures head Erik Lagerblad. H&M Group Ventures is the investment arm of the H&M Group with particular interest in tech and sustainability sectors.
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Specializing in mid-market retail, Voyado uses customer data to deliver tailored messaging, marketing campaigns and personalized experiences across multiple channels, including email, text, e-commerce and mobile apps. Its technology allows companies to segment their audience based on customer behaviors, preferences and purchase history, and to offer a range of tools for marketing automation.
“Our ambition is to establish Voyado as Northern Europe’s most beloved retail tech companion while maintaining profitability and scalability. H&M Group’s investment will provide additional resources and expertise to help us further develop our platform and support an increasingly international customer base, benefiting existing and new customers,” said Voyado chief executive officer Erica Sandelin Ekelund.
Voyado will leverage H&M Group’s global reach to understand customer behavior and continue to refine its platform to adapt to various local markets.
“We continue to see enormous potential in our niche and strongly believe that our retail focus is what creates true value for our customers. By building smarter, industry-specific solutions that address real challenges, we’re ready to take the next step in our growth journey,” Ekelund added.
H&M Group joins current investors including Swedish private equity firms Novax, which invested as co-owner in 2018; eEquity, which invested in two rounds, and Verdane.
H&M Group will not join the board of directors, its representatives will actively contribute to the strategic discussion in other ways.