Zenvestment Holding Sells Stake in Upsales Technology
Zenvestment Holding AB has divested 1,770,493 shares in Stockholm-based software firm Upsales Technology, reducing its stake in the company.
Zenvestment Holding AB, a vehicle indirectly controlled by Daniel Wikberg, has completed the sale of 1,770,493 shares in Upsales Technology AB (publ). The transaction marks a change in the ownership structure for the Swedish software developer.
The divestment follows a period of growth for Upsales, which provides a cloud-based CRM and marketing automation platform for mid-sized companies. While Zenvestment remains a significant entity in the firm's history, this sale represents a recalibration of its investment portfolio.
Upsales Technology, which is listed on the Nasdaq First North Growth Market, continues its operations under the direction of its existing management team. The company focuses on expanding its presence in the Nordic SaaS market, competing with international CRM providers through its integrated sales and marketing tools.