Swedish Tech - Who Has Lost The Most?

This month Di Digital revealed that Spotify recorded losses of over €500m for the last financial year.

Tech losses are nothing new and some of the largest tech companies (Spotify and Truecaller) are still waiting for their first profit.

But which Swedish Tech companies have racked up the largest losses so far this year (at June 2017)?

Largest losses 2016

• MatHem - e-commerce €12.4m loss
• Clavister - security €6.8m loss
• Royaldesign.com - e-commerce €5.8m loss
• Flexenclosure - data centres €4.7m loss
• Coala Life - Medtech €4.5m loss

Top five cumulative losses 2015 & 2016

• MatHem - e-commerce €23m loss
• Flexenclosure - data centres €15.9m loss
• Clavister - security €11.8m loss
• BabyShop - e-commerce €6.1m loss
• Royaldesign.com - e-commerce €5.9m loss

The Spotify losses have not made the top five as the accounts are filed in Luxemburg and not Sweden.

Methodology

• The data can be viewed here.
• Statutory losses are used as they are accountable and automatically updated on nordictechlist.com.
• The data will be updated on a quarterly basis and will include new losses as and when they are filed. Both are automatically added based on the companies organisation number / org.nummer.

Any questions, please do email howard@nordictechlist.com.

Howard Riminton