Stockholm’s omnichannel tool Sinch raises $1.1 billion in new share issue

Stockholm’s omnichannel tool Sinch raises $1.1 billion in new share issue

Stockholm-based communications platform Sinch has raised $1.1 billion in a new share issue. The firm directed a share issue of 7,232,077 shares at kr1,300, raising approximately kr9.4 billion. The issue was oversubscribed and saw a large number of Swedish and international institutional investors scrambling to get in on the action. Previous investors Temasek and SoftBank (via SB Northstar) re-upped on their commitment and subscribed to a large portion of the issue. Sinch is reporting that the new raise will strengthen its financial position and flexibility after the recent $1.1 billion purchase of Chicago-based voice-comms provider Inteliquent.

Founded in 2008 by Henrik Sandell, Johan Hedberg, Kjell Arvidsson, Kristian Männik, and Robert Gerstmann, Sinch is a CPaaS (Communications Platform as a Service) that goes head to head with competitors Amsterdam-based MessageBird (who just last month raised $1 billion of their own) and U.S.-based Twilio and offers brands a variety of ways to communicate with consumers.

In a market that Gartner predicts, “By 2023, 90% of global enterprises will leverage CPaaS offerings to enhance their digital competitiveness, up from 20% in 2020,” Sinch has been named the worldwide leader in the segment. 

Carnegie, Danske Bank, Handelsbanken Capital Markets, JP Morgan and SEB served as collective bookbuilders and determined the share subscription price.

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.