# Saltside Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/saltside-technologies

- Industry: Software
- Headquarters: Gothenburg, Sweden
- Website: www.saltside.se
- Total disclosed funding: $40M
- Latest round: Series B (Jan 23, 2015)
- Investors on record: 3

## About

Saltside Technologies operates online marketplaces in Sri Lanka and Bangladesh, facilitating classified ads for vehicles, properties, and general goods, connecting buyers and sellers in emerging economies.Founded in 2011 in Gothenburg, Sweden, Saltside Technologies focuses on operating online marketplaces. The company raised USD 40.00 mn in Series B funding on January 23, 2015, led by Hillhouse Capital Group, with participation from Brummer & Partners Asia and Kinnevik. The founder, Nils Hammar, has a background in launching tech-driven solutions and has been instrumental in the company’s strategic direction.Saltside Technologies specializes in running leading online marketplaces that focus on classified advertisements primarily in Sri Lanka and Bangladesh. Their platforms cater to a diverse clientele, facilitating the buying and selling of cars, bikes, and properties. With over 575,000 active classified ads and more than 35,500 daily users, Saltside provides buyer guides to enhance user experience and assist consumers in making informed purchasing decisions.In the most recent fiscal year of 2022, Saltside Technologies reported a revenue of USD 5.84 mn, with an EBITDA of USD 802,000. The company generates revenue through its online marketplaces by earning a commission on successful sales and potential subscription fees from enhanced services or listings, supporting a robust business model centered on facilitating transactions between buyers and sellers.Saltside Technologies aims to utilize the recent Series B funding of USD 40.00 mn, raised in January 2015, to enhance its platform capabilities and expand into new markets. Future plans include the introduction of new services tailored for the evolving needs of users in existing markets, with a focus on enhancing user experience and expanding operations throughout Sri Lanka and Bangladesh.

## Funding rounds

- Series B, Jan 23, 2015, $40M — Brummer & Partners Asia, Kinnevik, Hillhouse Investment

## Investors

- Brummer & Partners Asia (https://capitalatlas.ai/funds/brummer-partners-asia) — Series B
- Kinnevik (https://capitalatlas.ai/funds/kinnevik) — Series B
- Hillhouse Investment (https://capitalatlas.ai/funds/hillhouse-investment) — Series B