Funds advised by IK Investment Partners (IK) are to invests in Mecenat Holding AB Mecenat. Financial terms of the transaction have not been disclosed.
Mecenat is a marketing technology company which promotes unique discounts to its community of students and young professionals. The Company is headquartered in Gothenburg and operates across Sweden with over 4,500 vendors offering discounts and deals to more than 1.2 million students and recent graduates.
The Company was founded in 1998 by its CEO Jonas Levin and has pioneered the Swedish student discount market. The platform provides special offers across a range of products and services, including electronics, clothing, books, entertainment, sport, food and health. Notable brands include Apple, Adobe, Adidas and ASOS, in addition to service and transport providers such as state-owned train operator SJ.
Since 2018, Mecenat has extended its membership to include university alumni, expanding the platform’s reach and growth potential even further. Funds advised by IK will be investing in the business alongside Jonas Levin, who will remain as CEO. With the support of IK, Mecenat plans to build on its success and further develop its technology platform in order to ensure a continued relevant and trusted offering towards students as well as young professionals.
Jonas Levin, Founder and CEO of Mecenat, says: “We are excited to be partnering with IK as we enter the next stage of our journey. Our success to date has been driven by remaining relevant for tomorrow’s trendsetters and students by developing our technology to connect them with the most appealing products and services from today’s leading brands. With IK’s support, we aim to further develop our business by expanding into complementary affinity groups and ensuring we remain the top-of-mind marketing channel for reaching students and young professionals.
Carl Jakobsson, Director at IK Investment Partners and Advisor to IK funds, says: “Mecenat is synonymous with trusted and unique student discounts in Sweden and has demonstrated an impressive ability to adapt to the changing dynamics of this demographic over the last two decades. We are highly excited about partnering with Jonas and his team on continuing the journey of building the Nordics’ leading marketing channel within and beyond the current affinity group focus.”
