Solteq Plc

Based in Finland, Solteq Plc specializes in providing digital business solutions and vertical software for various industries, enhancing operational efficiency through its innovative technology offerings. Founded in 1982 and headquartered in Vantaa, Finland, Solteq Plc operates as a Nordic IT service provider. The company has undergone strategic pivots to focus on digital solutions for industries such as automotive, utilities, and retail. It has raised EUR 22.

56 million in its most recent funding round, a Private Placement/Follow on, which represents the total amount raised to date. The company has executed 2 deals, with the latest deal occurring on May 12, 2021. Solteq is a Nordic IT service provider specializing in digital business solutions and vertical software markets. The company offers a comprehensive suite of products and services designed to address the needs of various industries, including automotive, utilities, and retail.

Key offerings include Smart Dealer, a Dealer Management System (DMS) for automotive sales and after-sales services, and Solteq Commerce Cloud, a multichannel digital commerce solution catering to retail and restaurant sectors. These solutions facilitate streamlined operations, enhance customer experiences, and provide integrations across various sales and service channels. Solteq’s services extend to customer information systems (CIS) for utilities, enabling effective data management and customer engagement. The company serves a diverse client base, including businesses in Finland, Denmark, Sweden, Poland, and the United Kingdom, focusing on creating value through tailored technological solutions that improve operational efficiency and customer satisfaction.

In 2022, Solteq reported a revenue of EUR 72. 11 mn with an EBITDA of EUR 1. 17 mn. Revenue is generated through a combination of subscription-based services, direct sales, and partnerships, including fees from licensing its software products, such as Smart Dealer DMS and Solteq Commerce Cloud, offered under annual subscription models.

Solteq Plc plans to utilize the EUR 22. 56 million raised in May 2021 to support the development of new products and expansion into new markets. The company is focusing on enhancing its current offerings and exploring opportunities in additional geographical regions to strengthen its presence. Specific release dates and new product details have not been disclosed, but the emphasis on expanding its customer base and service capabilities is clear.