Tjekvik is preparing for its next phase of growth after partnering with a private equity investor that has become its majority shareholder for an undisclosed sum.
Swedish-based tech investor Standout Capital will be working to help accelerate the development of new digital self-service and aftersales solutions and help fund global expansion.
Tjekvik has more than quadrupled its turnover since 2021 and now works with over 1,700 dealerships across 34 countries.
While Standout Capital’s investment is a significant milestone for Tjekvik, the company’s founder and management team will retain “a significant shareholding in the company and will remain instrumental in defining and implementing future strategy”.
Founded in 2015 by Christian Mark and Ole Møller Støvring and located in Copenhagen in Denmark, Tjekvik provides digital check-in and check-out solutions for car dealer aftersales departments.
Christian Mark, chief executive and co-founder at Tjekvik, said: “We see significant opportunities to continue scaling our operations to further strengthen our position.
“It is the right time to bring in an active growth partner.
“In Standout Capital we have found a team with complementary skills and vast experience in supporting B2B software companies expand internationally.”
Filip Lidman, investment professional at Standout Capital, added: “We are truly impressed by Tjekvik’s customer value proposition and are pleased to get a chance to partner with Christian and the rest of the highly talented team at Tjekvik.
“The demand for next-generation software solutions in the automotive aftermarket industry is clear, and with its purpose-built technology, we see substantial growth potential for Tjekvik.”
