# PEI Development

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pei-development

- Industry: Financial Services
- Headquarters: Stockholm, Sweden
- Website: www.getsteven.com
- Total disclosed funding: $1.1M
- Latest round: Seed (Nov 29, 2017)
- Investors on record: 1

## About

PEI Development AB is a technology firm specializing in financial management solutions, primarily through its application designed for seamless expense tracking and settlement among friends and groups.Founded in 2016, PEI Development AB operates from its headquarters in Stockholm, Sweden. The company focuses on providing a financial management application aimed at simplifying expense tracking and shared financial interactions. Co-founded by Fredrik Olofsson and Jens Saltin, the firm has completed a total of 3 deals, with its most recent funding round occurring on May 10, 2019. The company raised SEK 12 million in venture funding during this round, which represents the total amount raised.Steven AB offers a financial management application that enables users to track expenses and settle payments among groups effortlessly. Users can create groups for activities such as travel or household expenses, and the application supports payment integration with methods like Apple Pay and Steven Mastercard. The primary customer base includes individuals and groups in Europe and North America, focusing on those engaged in shared financial activities.In 2023, PEI Development AB reported a revenue of SEK 38,734.70 mn. The company also recorded an EBITDA of SEK -1,277,653.90 in the same year, indicating operational challenges amid its revenue generation efforts.PEI Development AB plans to expand its product offerings by designing new features aimed at enhancing user experience and functionality within the Steven application. The company is also targeting expansion into additional markets in Europe and North America by the end of 2024. The SEK 12 million raised in May 2019 will be utilized to support these initiatives, focusing on product development and market entry strategies.

## Funding rounds

- Seed, Nov 29, 2017, $1.1M — Wellstreet

## Investors

- Wellstreet (https://capitalatlas.ai/funds/wellstreet) — Seed