August 1, 2014
Equity financing for Quinyx from Alfvén & Didrikson
When working part-time at McDonald’s…
Quinyx is a fast-growing supplier of cloud-based software for workforce management, offering comprehensive solutions for time and attendance, scheduling, absence management, employee communication, etc.
The company dates back to 2005, when Erik Fjellborg (now CEO of Quinyx) was still in high school and worked part-time at McDonald’s – he discovered that there was no system that could handle scheduling when staff quickly wanted to book or change shifts, and so he decided to create one himself with his then employer as the first customer.
Already a clear market leader in its home region of Scandinavia, Quinyx has secured contracts with industry leaders like McDonald’s, Burger King, Subway, Tele2 Arena, FedEx, Compass Group and GANT.
…leads to a USD 14m investment
In the summer of 2014, GCA Altium advised Quinyx on a USD 14 million Series B financing round from Swedish midcap private equity firm Alfvén & Didrikson.
The investment is a combined private placement and secondary share purchase and allows Erik Fjellborg, the CEO and founder of Quinyx, to remain the largest private shareholder in the Company after the transaction.
The capital from the raise will be used primarily to accelerate the Company’s international expansion (in particular in the UK, Germany, etc.) and turn Quinyx into an international market leader.
GCA Altium acted as sole advisor to Quinyx.