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2022-02-17
Mecenat expands its platform into Finland through the acquisition of Frank
With more than 2 million students, alumni and seniors as its members, Mecenat AB (“the Company”) prides itself as a leading marketing technology platform and channel for vendors looking to reach specific affinity groups in Sweden. This is achieved through the provision of unique and relevant discounts.
Through the acquisition of Frank Students, known in Finland for its leading student identification and discount app Frank, Mecenat broadens its offering, taking the first step to become a truly international platform. The acquisition adds 160,000 students to the Company’s existing member base, further solidifying its position as a leading marketing technology platform.
Expanding into Finland, through the acquisition of Frank, is a natural next step for Mecenat as it looks to position itself for continued growth using its well-known brand and high user satisfaction as a firm foundation. Frank is a household name in the student community and complementary to Mecenat’s offering, which will help in the realisation of the Company’s ambitions and wider business objectives.
“While students keep on using the same Frank mobile app they’ve grown accustomed to, there’ll be plenty of new things we can now start building and offering for the Finnish student community together”, said Antti Eronen, CEO at Frank Students.
“We have demonstrated the scalability of our business model in Sweden and look forward to joining forces with Antti and his team at Frank as we continue our journey on an international scale”, said Jonas Odéhn, CEO at Mecenat AB.
For more information contact:
Jonas Odéhn, CEO at Mecenat AB
Tel: 073 922 01 11
Email: jonas.odehn@mecenat.com
About IK Partners
IK is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 160 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com
About Mecenat
Mecenat (the “Company”) is a marketing technology company connecting students, alumni and young professionals in Sweden with well-known brands by providing access to unique and relevant discounts. Established in 1998, by Jonas Levin, the Company is the undisputed market leader in Sweden boasting a user base of approximately one million students and partnering with over 4,500 vendors. Notable partners include Apple, Microsoft, HP, Adidas, H&M and Hotels.com. For more information, visit www.mecenat.com
