Estonian start-up Stebby has been sold, and a leader from Lithuania is among the new owners

The company said on Tuesday that investors had bought 100% of Stebby’s shares from the start-up founder Martin Soosar for an undisclosed amount.

According to Mackel, CEO of Stebby, the back of Livonia Parnters is expected to help the company achieve its goals faster.

“I have no doubt that together with Livonia Partners we will be able to continue investing in improving our products and expanding consistently locally and internationally. “This partnership will offer the best possible health system to an even larger number of people, and will help ensure that it works flawlessly,” Mackel said in a statement.

He said more than $ 10 million was spent on health services on the Stebby platform last year. Eur, they were used by over 150,000 Eur users. The majority of Stebby users are currently in Estonia.

Stebby – then called SportID – once had 0.5 million. Eur was involved in product development and team development on the Funderbeam platform. It distributed two issues of units to retail investors, selling 5.7% and 4.1% of the company, respectively.

Estonian business news portal aaripaev.ee estimates that this is an almost triple return for Stebby’s retail investors who have invested in the company through the Funderbeam platform during the distribution of units.

According to the price paid to Funderbeam’s investors by the new owners of Stebby, the start-up value is 9.3 million. Eur. Compared to the price of the first issue, the value of Stebby at the beginning of March, when trading in the start-up securities on the Funderbeam platform was suspended, was about 5 million. Eur.

In April, Stebby announced plans to sell the entire company. Last year, K. Mackelis alluded to VŽ that in 2022. the start-up will look for investment.

The Stebby platform gives employees the flexibility to choose from a variety of employer-reimbursed health activities. Read more about Stebby in this article.