About the IPO
On 18 December 2020, Safello Group AB announced its intention to launch an initial public offering of its shares and to be listed on Nasdaq First North Growth Market.
Safello started its cryptocurrency brokerage business in 2013 and has since launched a brokerage platform that offers and enables customers to securely buy and sell leading cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) in Swedish kronor (SEK).
Safello is a Swedish public limited company incorporated in Sweden and operating under Swedish law. The company is registered as a financial institution with the Swedish Financial Supervisory Authority, Finansinspektionen.
As of March 31, 2021, Safello had over 191,000 customers and completed over 412,000 transactions, which corresponds to a total transaction volume of over SEK 1 billion since inception. The company has been profitable since mid-2019, but has chosen to reinvest surpluses in the business to promote growth. Between the financial years 2019 and 2020, net sales increased by approximately 52%.
The name Safello originates from the term ‘Safe Fellow’, as in the safe fellow into the cryptocurrency economy. The Company’s philosophy is to be a reliable guide to new users to make them feel safe when they enter the market, while preserving their financial freedom. To make this possible, Safello has since the start had a strong focus on regulatory compliance, which has resulted in a fully AMLD5 and GDPR compliant platform. Building trust takes time and requires a careful and prudent approach, which has been Safello’s focus during its seven years of operation.
Safello is backed by reputable investors, including Digital Currency Group (DCG), Northzone and White Star Capital.
To, among other things, ensure continued growth rate through product development, increased sales and geographical expansion, the company wants to conduct an IPO on the Nasdaq First North Growth Market. Safello also has a clear strategy to carry out complementary acquisitions to establish a stronger industry position, which will be facilitated by an IPO. Safello has previously completed several acquisitions, most recently with the purchase of the company behind bitcoin.se.
More information about Safello is available in the Prospectus or in the IPO Teaser.
The offer in summary
SEK 13.5 per share. The issuances conduct of 3,000,000 new common shares corresponding to SEK 40.5 million.
Approximately SEK 235.6 million pre-money.
The company has entered into subscription commitments with investors of approximately SEK 32.4 million, corresponding to 80% of the issue.
The existing shareholders White Star Capital, Digital Currency Group (DCG) and Northzone are anchor investors in the listing issue. The subscription commitment for the anchor investors together with Safello’s board and management corresponds to approximately SEK 16.2 million or 40% of the Offer.
April 19, 2021 through April 30, 2021
Notice of allotment
May 4. Settlement notes are scheduled to be sent out May 5.
Safello’s shares are scheduled to be traded on the Nasdaq First North Growth Market. The first day of trading is scheduled for May 12, 2021
Minimum subscription item
The minimum subscription item is 400 shares, which corresponds to SEK 5,400
Shortname / ticker: SFL