Dec 17, 2015
Egreement raises 5 million through rights issue
Egreement, Sweden's leading company in the digitalisation of contract processes, is now making a new issue to finance an increased investment in Sweden and the Nordic region. Gullspång Invest and Gavia Holding are investing a total of SEK 5 million, convinced that we are only at the beginning of a wave of digitisation of contracts for both large and small companies.
The digital maturity of the population is increasing and more and more companies see the opportunity to streamline their contracting processes through digital technology. According to the IIS report Swedes and the Internet 2015, 91% of the population uses the internet and a full 65% of the population feels part of the information society. The same report notes that 54% of Swedes use BankID and 49% use Mobile BankID.
"Egreement was the first and is the largest in the market. They have built a complete solution with e-signing, electronic identification and digital contracting solutions and above all have a lot of experience and expertise in the field. Therefore, we see that they have the opportunity to develop strongly in the coming years with the help of our expansion capital now that demand is starting to take off in earnest. More and more people are realising the enormous benefits of digital contract processes compared to paper-based ones." Erik Brandberg, Gullspång Invest
By introducing a fully electronic contract process, from identification of the parties, through e-signing, to storage of the contracts, Egreement has helped to reduce its clients' costs by up to 80% per contract. Electronic signing also gives the company better control than handling paper contracts and significantly reduces the time to signed contract, which in many cases drives increased revenue.
Egreement has been in business for nine years and has previously marketed its offer under the name E-contract. Customers include the telecoms, finance, real estate, e-commerce and energy sectors. The CEO is Patrick Wilkinson. In connection with the new issue, Erik Brandberg and Gustaf Brandberg from Gullspång Invest will join Egreement's board of directors.