According to a breakdown by The Nordic Web, a total of 247 investments were made in 2016 compared to 90 investments during 2015.
Stockholm continues to strengthen its position as a major European Fintech hotspot with Fintech as the most popular vertical for funding. With a new Fintech hub launching early in the year this is a sector likely to increase even more during 2017.
Other interesting findings in the data gathered by The Nordic Web is that Health & Wellness and Gaming are still strong verticals, and that areas such as Internet of Things and especially Enterprise SaaS had a stong year entering into the top 10 areas for investments.
In relation to the other Nordic countries, Stockholm strengthens its position as the capital of Scandinavia, representing 54% of the total amount invested into the Nordics.
"Incredibly, Stockholm is still experiencing dramatic growth in investments, with their importance and position as the Nordic's dominant hub only increasing. In 2016, 1 in 3 investments that were made in the Nordics were made in Stockholm, up from the 1 in 4 in 2015. This is despite investment increasing across the Nordics, meaning Stockholm continues to outpace them all", says Neil Murray, CEO of The Nordic Web.
With prestigious international investors like Lakestar, Point Nine Capital, Balderton, Index and 500 Startups flocking to Stockholm, it’s easy to believe that venture capital is the only way to raise money as a startup, but not so. The IPO market in Stockholm is also on a steady rise. Stockholm’s stock exchanges added an impressive 99 new listings in 2016, including 74 IPOs (compared with 69 IPOs in London), making Stockholm one of the hottest IPO markets in Europe, and simply a great place for startups.