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Swedish online ecommerce developer Tictail seals seed capital from Balderton, Klaus Hommels

22 Oct 2012

Swedish online ecommerce developer Tictail has raised €1.2m in seed capital led by venture capital firm Balderton Capital and Swiss early stage investor and internet entrepreneur Klaus Hommels.

Hommels said, “Tictail is for me a true democratisation of ecommerce. It’s a friendly, simple platform that provides every individual with powerful tools, ultimately providing a positive feeling of building a business. Led by a stellar, passionate management team, it was a very quick decision to invest.”

Board members including Spotify chief performance officer Gustav Söderström and Tumblr COO Fredrik Nylander, have also invested as part of the round.

Tictail was launched in May and allows users to set up an online store.

Carl Waldekranz, CEO of Tictail, said, “We’re delighted to have the endorsement and financial backing of great names such as Balderton and Klaus Hommels to take us into our next phase of development. We are growing at an incredible rate and with our new ‘to-do feed’, which is the first of its kind, we’re looking forward to helping more people with great products get online and grow their businesses.”

Roberto Bonanzinga, partner at Balderton Capital, added, “The Balderton team loves to work with entrepreneurs when they’re beginning to turn high-potential ideas into reality. Tictail’s ambitions have been global from the outset and their technology is truly disruptive. What really stood out for us though is the fit between the potential of the opportunity and the DNA of the team, and we are excited about the role Tictail will play in shaping future ecommerce technologies.”

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