The digital funeral agency Lavendla, founded by Jakob Nordström, has received new minority owners Bonnier Ventures and eEquity. The injection of capital will be used to expand operations in the Nordic region. Among other minority owners is The Springfield Project, which has financed the company from the start.
The company was founded in 2014 and today provides a broad range of services under the brands Lavendla and Wilja funeral agencies, which were launched in fall 2017. Today, the Swedish funeral agency industry is dominated by Fonus, with approximately one-third of the market in Sweden. Lavendla provides services at a price that is significantly lower while also earning the industry’s highest customer reviews.
“Lavendla has quickly become a leading digital funeral agency,” says Dajana Mirborn, Investment Director at Bonnier Ventures. “We are impressed with Jakob and his team, who have succeeded in a very short time to combine high growth while controlling costs with a responsible business that has gotten exceptionally strong reviews from customers. They create choice at a reasonable cost. We look forward to supporting them in their future efforts.”
Lavandla’s revenues for 2017 were around SEK 20 million, a sharp increase from SEK 7 million the previous year. The market share for digital-based funeral agency services has grown significantly in recent years, and demand is expected to increase further in upcoming years.
“It’s inspiring that Bonnier Ventures and eEquity believe in us,” says Jakob Nordström, CEO and Founder of Lavendla. “We have a strong team and have had a good year with many new customers who have chosen our combination of digital services and personal approach. Bonnier offers a broad media reach and knowledge, while eEquity provides important experience in e-commerce. Now we have a great opportunity to continue to earn our customers’ trust, and expand in Sweden as well as internationally.”