Swedish on-demand sale service Universal Avenue has raised $10 million A round from Eight Roads, the proprietary investment arm of Fidelity International Limited.
“This series A round of funding will allow us to grow further and faster and enable Universal Avenue to become a truly global on-demand sales service. We are packaging a service that fits companies with ambitious sales and expansion targets, along with the need to manage overhead costs and keep risk at bay,” Johan Lilja, Universal Avenue’s Co-Founder and CEO, said in a statement.
The company has so far raised $17m funding in total, including $2 million seed from Kaj Hed’s MOOR Capital received last year.
Already active in Scandinavia region, UK and other European countries, Universal Avenue connects SMEs with freelance salesforce, allowing growing businesses to expand and scale in new market without deploying an internal sale team. The Swedish startup, who has been helping brands such as Spotify Business, Shopify and DripApp, plans to use the funding for its European growth and expand its footstep to US market. “This series A round of funding will allow us to grow further and faster and enable Universal Avenue to become a truly global on-demand sales service,”, adds Lilja.