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INNOVX

Gothenburg57.70° N 11.94° E local timeFounded 2018Reg. no. 559185-0002

We have been building companies since 2007. Today we also invest our own money in the next generation of companies.

INNOVX is the Gothenburg holding and investment company of Richard Sörensson and Viktor Nord. Our main company today is Adway, which we co-founded in 2017 and where we both work. Through INNOVX we also invest directly in companies and as a Limited Partner in Nordic venture funds.

See what we have built [email protected]

At a glance

Sverige-Norge.se, Viktor's first company, is founded. Richard co-founds No Ink in 2011.

2007

Sverige-Norge.se, Viktor's first company, is founded. Richard co-founds No Ink in 2011.

Source: Founders Alliance, Byggvärlden, Mynewsdesk

Businesses sold: Sverige-Norge.se (later Hub 28), No Ink (now Ekopost) and Rekry.

3exits

Businesses sold: Sverige-Norge.se (later Hub 28), No Ink (now Ekopost) and Rekry.

Source: viktornord.com, Allabolag (Bolagsverket), Stated by the founders themselves

The companies' own rounds from outside investors, not INNOVX capital. About SEK 173M went to Adway, which we co-founded (2021–2024, Series A led by Octopus Ventures), and about SEK 110M to companies we invested in: Realforce, Incredible, DB24 and Fintower. Euro converted at the ECB rate on the round's date.

~280SEK M raised

The companies' own rounds from outside investors, not INNOVX capital. About SEK 173M went to Adway, which we co-founded (2021–2024, Series A led by Octopus Ventures), and about SEK 110M to companies we invested in: Realforce, Incredible, DB24 and Fintower. Euro converted at the ECB rate on the round's date.

Source: Spintop Ventures, DLA Piper, Breakit, Spiltan Invest, Spintop Ventures, Almi Invest, Tech.eu, Europeiska centralbanken (ECB)as of 2026-08

Customers that Adway, our main company today, has had since launch.

564customers

Customers that Adway, our main company today, has had since launch.

Source: Stated by the founders themselvesas of 2026-09

Combined net sales in 2025 for Adway, which we co-founded (SEK 63.0M, 17 employees in the parent company), and Reducero, which Richard founded and we together majority-own (SEK 50.0M, 41 employees, profit in 2025).

113SEK M net sales

Combined net sales in 2025 for Adway, which we co-founded (SEK 63.0M, 17 employees in the parent company), and Reducero, which Richard founded and we together majority-own (SEK 50.0M, 41 employees, profit in 2025).

Source: Allabolag (Bolagsverket), Allabolag (Bolagsverket), Reduceroas of 2025-12

Average headcount in 2022, the peak year, in companies we founded: Reducero 132, Adway 54 including its UK subsidiary, Beelectric 33, Re:Nable 8, INNOVX 5 and Artificial Collective 3, 235 in total. In 2025 the total was 64. Realforce, where we are investors, had 54 employees in 2022 and is not included.

200+employees

Average headcount in 2022, the peak year, in companies we founded: Reducero 132, Adway 54 including its UK subsidiary, Beelectric 33, Re:Nable 8, INNOVX 5 and Artificial Collective 3, 235 in total. In 2025 the total was 64. Realforce, where we are investors, had 54 employees in 2022 and is not included.

Source: Allabolag (Bolagsverket, data från UC), Companies House, Allabolag (Bolagsverket, data från UC), Allabolag (Bolagsverket, data från UC), Allabolag (Bolagsverket, data från UC), Allabolag (Bolagsverket, data från UC), Allabolag (Bolagsverket, data från UC), Allabolag (Bolagsverket, data från UC)as of 2022

Customers Reducero has had since launch in 2015, with more than 1,000 employees over the years.

150,000+customers

Customers Reducero has had since launch in 2015, with more than 1,000 employees over the years.

Source: Stated by the founders themselvesas of 2026-10

Loans Reducero brokers each year through 24 banks and lenders, licensed by the Swedish FSA (Finansinspektionen).

~1.5billion SEK a year

Loans Reducero brokers each year through 24 banks and lenders, licensed by the Swedish FSA (Finansinspektionen).

Source: Stated by the founders themselves, Reducero, Finansinspektionenas of 2026-11

Venture funds where INNOVX is a Limited Partner: Spintop Ventures and Ampli Ventures.

2funds

Venture funds where INNOVX is a Limited Partner: Spintop Ventures and Ampli Ventures.

Source: Stated by the founders themselvesas of 2026-10

Sweden, and the sea route from the North Sea in to Gothenburg, where we are based.

Sweden, and the sea route from the North Sea in to Gothenburg, where we are based.

The founders

Two entrepreneurs who built companies separately before co-founding Adway in 2017. Adway is their main company today. Since 2018 they have also invested through INNOVX.

Richard Sörensson

Richard Sörensson

Co-founder and Head of Innovation, Adway · Chair, INNOVX

Co-founder of Adway, Richard's main company today. Earlier co-founded No Ink (now Ekopost) and founded Reducero.

A developer from an early age and an entrepreneur since the early 2000s, when Richard built and sold a Swedish poker site. In 2011 he co-founded No Ink, a cloud service for sending letters and invoices straight from the computer, and was its CEO. The company placed sixth on Internetworld's Entrepreneurs of the Year list in 2012. The service is now called Ekopost and continues under new ownership at No Ink AB with SEK 66.9M in net sales in 2025.

Richard founded Reducero, a credit intermediary licensed by the Swedish Financial Supervisory Authority (Finansinspektionen) since 2015. Since launch it has had more than 150,000 customers and more than 1,000 employees, and today it brokers about SEK 1.5 billion in loans a year, with SEK 50M in net sales in 2025. In 2017 Richard and Viktor co-founded Adway, where Richard is Head of Innovation and a board member. Together they also co-founded the AI company Re:Nable in 2018, and in 2021 started the AI consultancy Artificial Collective through INNOVX. Previously CTO and partner at Shopy and a system architect at Voolife (Aspiro).

Richard has built production systems since the early 2010s and AI products since 2018. The Reducero platform (launched 2015) integrates 24 banks and lenders under a Swedish FSA licence. Adway Connect, Adway's SaaS platform for social-media recruitment marketing, has been running in production at Circle K and others since 2020. Adway has no CEO, and as Head of Innovation Richard today leads all technical work at the company, including the AI work in the product. Through Artificial Collective (2021), the team experimented with training proprietary language models for domain-specific client cases in fintech, retail, medtech and manufacturing — an early attempt at vertical language models, the year before ChatGPT launched.

LinkedInAllabolagFull profile
  1. 2011Co-founder and CEO, No Ink (now Ekopost)
  2. 2012No Ink ranked sixth, Internetworld's Entrepreneurs of the Year
  3. 2015Founder, Reducero
  4. 2017Co-founder, Adway
  5. 2018Co-founder and Chair, INNOVX
Viktor Nord

Viktor Nord

Co-founder and Head of Growth, Adway · Board member, INNOVX

Co-founder of Adway, Viktor's main company today. Founded Sverige-Norge.se in 2007, invests as an angel and is one of the initiators of AI Gothenburg.

Viktor's first company, Sverige-Norge.se, was founded in 2007 to match Swedish job seekers with Norwegian employers, and placed thousands of Swedes in jobs in Norway. In 2009 Viktor was named Young Entrepreneur of the Year for West Sweden. The business, later known as Hub 28, was sold in 2017 to the Norwegian staffing group CBA (Cross Border Alliance). In 2015 Viktor founded Rekry, a recruitment software company sold to We Select in 2017.

Nearly 20 years of experience in go-to-market, growth and recruitment advertising: from social job ads and retargeting (Techrekpodden 2018 and 2020) to AI search and recruitment marketing (Recruiting Brainfood 2023, a panel with Indeed and UK Recruiters). Adway has no CEO, and as Head of Growth Viktor leads all of the company's go-to-market. The company has 300+ clients in 54 countries and offices in Gothenburg, Stockholm and London. Net sales went from SEK 34M in 2021 to SEK 63M in 2022 and have stayed at that level since (SEK 63M in 2025), while losses have narrowed. After the restructuring the company has had positive EBITDA every month since February 2026, according to the founders, about SEK 6M in total for January–September, with a full-year 2026 EBITDA forecast of about €1M.

In 2017 Viktor and Richard co-founded Adway, where Viktor is Head of Growth and a board member. Viktor invests in AI companies — angel in Incredible (voice-controlled AI assistant, 2026) and board member at Fintower (AI platform for financial planning, €1.5M seed round 2026 with Chalmers Ventures, Akka and the Stena family). In 2026 Viktor was one of the initiators of AI Gothenburg, together with Gothenburg founders, operators and investors — a non-profit AI hub with NVIDIA, Business Region Göteborg and Region Västra Götaland as founding partners, with a goal of 200 new AI companies by 2030. Viktor was the hub's first board chair and is now a board member.

viktornord.comLinkedInAllabolagFull profile
  1. 2005Studies in economics and entrepreneurship, Chalmers University of Technology
  2. 2006National service, second lieutenant in the Swedish Armed Forces
  3. 2007Founder and CEO, Sverige-Norge.se
  4. 2009Young Entrepreneur of the Year, West Sweden
  5. 2014Board diploma programme, StyrelseAkademien
  6. 2014Panel in the Swedish parliament on young people's jobs in the Nordics
  7. 2015Founder, Rekry
  8. 2017Exits: Sverige-Norge.se to CBA and Rekry to We Select
  9. 2017Co-founder, Adway
  10. 2026Initiator and board member, AI Gothenburg

Our offer to SaaS companies

Revenue-based financing up to SEK 10M

For Swedish SaaS companies with recurring revenue: non-dilutive capital, repaid as a fixed share of revenue and secured against that recurring revenue. When things go well you repay faster; when they slow down, repayment takes longer.

Calculate and apply (in Swedish) How it works
  • 0% dilution
  • No board seat
  • An answer within 48 hours
  • Flexible repayment

Two tracks, 2007–2026

Richard and Viktor built companies separately before co-founding Adway in 2017. Since then, their tracks have run together.

Richard Sörensson

Viktor Nord

  1. System architect, Voolife (Aspiro)2007–2008

    2007

    Founded Sverige-Norge.se

  2. 2009

    Young Entrepreneur of the Year, West Sweden

  3. CTO and partner, Shopy2010–2014

    2010

  4. Co-founded No Ink, now Ekopost

    2011

  5. No Ink ranked sixth, Internetworld's Entrepreneurs of the Year

    2012

    Ambassador of the Year, Young Entrepreneurs of Sweden

  6. 2014

    Board diploma programme, StyrelseAkademien

    Panel in the Swedish parliament on young people's jobs in the Nordics

  7. Founded Reducero

    2015

    Founded Rekry, later sold to We Select

  8. Together

    Co-founded Adway

    2017

    Sold Sverige-Norge.se to CBA and Rekry to We Select

  9. Founded INNOVX

    Co-founded the AI company Re:Nable

    2018

  10. 2021

    Adway: €3.2M from Spintop and Brightly

    Started the AI consultancy Artificial Collective through INNOVX

  11. Adway: €10M Series A led by Octopus Ventures

    2022

  12. 2023

    INNOVX became a shareholder in Mindpark's Gothenburg hub

  13. INNOVX invested in Fintower

    2025

  14. INNOVX invested in The Hub

    2026

    One of the initiators of AI Gothenburg; board member at Fintower; angel investor in Incredible

Portfolio

What we build and invest in

Our own companies and active investments today. Roles, evidence and sources are in the lists further down.

See roles and sources

Companies we built

Companies Richard and Viktor founded or co-founded, in order of founding, with their status today, including those that did not work out.

  1. 2007Business sold

    Sverige-Norge.selater Hub 28

    Started in 2006 as Viktor's information portal about working in Norway, and became a recruitment business in 2007 placing Swedish job seekers with Norwegian employers. Offices in Gothenburg and Oslo.

    • VNFounder and CEO
    • The business was sold in 2017 to the Norwegian staffing group CBA (Cross Border Alliance)
    • After the sale Viktor worked for CBA as a consultant on IT, efficiency and integration, in a group that grew to about NOK 250M in revenue
    • Viktor told Svenskt Näringsliv in 2009 that 1,500 Swedes had found jobs in Norway through the company in 2008
    • Over 50,000 registered CVs and more than 4,000 people placed in total, according to the company's website in 2013
    • Interviews in Metro, Aftenposten, Dagens Næringsliv and SVT Rapport; a panel in the Swedish parliament in 2014
    • On the front page of Metro in 2008, and mentioned by Jonas Gahr Støre, then Norway's foreign minister and now its prime minister, in his Sommar i P1 radio programme in 2009
    • As Hub 28: 100,000+ users and 5,000+ customers

  2. 2011Sold

    No Inknow Ekopost

    Cloud-based mail handling, launched in 2011: letters and invoices sent straight from the computer.

    • RSCo-founder and CEO
    • Sixth on Internetworld's Entrepreneurs of the Year list, 2012
    • Under new ownership (subsidiary of Moventures AB): No Ink AB (Ekopost) had SEK 66.9M in net sales in 2025 with a 13.6% profit margin

  3. 2015Active

    Reducero

    Compares personal loans from 24 banks and lenders with a single credit check. Offices in Gothenburg and Örebro. Founded in 2015; the limited company was registered in 2014.

    • RSFounder and board member
    • VNCo-owner and deputy board member
    • About SEK 1.5 billion in brokered loans a year
    • About 5,000 loan applications every month
    • More than 150,000 customers since launch in 2015, and more than 1,000 people employed over the years
    • SEK 50.0M in net sales and SEK 0.6M in net profit in 2025
    • Net sales 2021–2025: SEK 39.0 → 56.1 → 56.4 → 38.7 → 50.0M. Net result: SEK 1.3 → 2.8 → −3.1 → 1.5 → 0.6M
    • Positive EBITDA in 4 of the last 5 years (2021–2025) and a profit after financial items in 2025
    • About 100 people in Gothenburg and Örebro according to the company (2026). The average number of employees in Reducero AB was 132 in 2022, the peak year, and 41 in 2025 according to the annual accounts
    • Licensed by the Swedish Financial Supervisory Authority (Finansinspektionen) for consumer credit intermediation since 2015. Under the new rules, loan brokers must be a bank or a credit market company. Reducero applied in July 2026, and the existing licence stays valid while the application is reviewed
    • The founders' assessment: the licence is highly likely to be granted, supported by the application, consulting firms and a proposed new board. If it is not granted, the company would need to pivot quickly
    • Richard and Viktor together hold a majority; Reducero is a subsidiary of INNOVX
    • Run by an external CEO, Magnus Flyckt; Richard is a board member and Viktor a deputy board member

  4. 2015Business sold

    Rekry

    Career sites, an applicant tracking system with automatic candidate screening, job-ad buying and employer branding for Nordic employers. Based in Gothenburg.

    • VNFounder
    • Clients shown on rekry.se in 2016–2017 included JM, HiQ, Willhem, Creditsafe, the City of Gothenburg, IHM Business School and Macforum
    • Sold in 2017 to We Select in Stockholm, where the product became the Talent Software platform

  5. 2017Active

    Adway

    Our main company today

    AI-driven recruitment marketing that turns open roles into social media campaigns. Offices in Gothenburg, Stockholm and London. The limited company was registered on 27 September 2017.

    • RSCo-founder, Head of Innovation and board member
    • VNCo-founder, Head of Growth and board member
    • 564 customers in total since launch, current and former (September 2026)
    • 300+ clients running campaigns in 54 countries
    • SEK 63.0M in net sales in 2025 (SEK 70.1M including other operating income) in the parent company Adway AB with 17 employees; the group also has offices in Stockholm and London
    • Net sales 2021–2025: SEK 33.8 → 63.0 → 52.4 → 61.0 → 63.0M, broadly flat since 2022. Net result: SEK −10.5 → −26.4 → −51.3 → −13.5 → −13.4M
    • Parent-company employees 45 → 17 (2022–2025) as costs were cut. EBITDA improved from SEK −44.2M (2023) to SEK −1.4M (2025); the 2025 operating result was SEK −12.1M and the net result SEK −13.4M
    • The company has no CEO and is run by the founders: Viktor is responsible for all go-to-market and Richard for all technology
    • After the restructuring: positive EBITDA every month since February 2026 (about SEK 6M in total for January–September 2026), and above the Rule of 40 for three months in a row, July–September 2026 (growth in invoiced revenue versus the same month a year earlier, plus EBITDA margin). Full-year 2026 forecast: about €1M in EBITDA
    • Signed contract 2020-11-30 with Circle K Sverige AB for Adway Connect, with Viktor as authorised signatory
    • Grew without venture capital and was profitable in 2020; its first major share issue came in 2021
    • €3.2M in 2021 from Spintop Ventures and Brightly Ventures
    • €10M, close to SEK 110M, in a Series A in 2022, led by Octopus Ventures
    • SEK 31.6M share issue in 2024
    • About SEK 173M in venture capital in total 2021–2024, with euro converted at the ECB rate on each round's date
    • Best Innovation in Online Recruitment, NORAs (UK) 2022
    • Core Leader in the Fosway 9-Grid for Talent Acquisition in several years, including 2022 and 2023

  6. 2018Bankrupt 2025; the technology lives on in Renable Marketing AB

    Re:Nable

    An AI platform for e-commerce marketing, founded in Gothenburg in 2018. Enriched product feeds, retargeting and AI-generated creatives for brands and online retailers. Renable AB went bankrupt in February 2025; its technology and customers moved on to Renable Marketing AB, which runs the platform today at renable.com.

    • RSVNCo-founders
    • Case studies with LG Electronics and Logitech Nordics (2021)
    • Raised €1.5M in seed funding in 2022
    • Renable AB was declared bankrupt on 2025-02-10
    • The technology and customers moved on to a new company, Renable Marketing AB. According to the founders, the technology is still among the most advanced in its niche
    • Today, under Renable Marketing AB: the platform is used by 22 brands, including NetOnNet, Webhallen, Komplett, LG and Sennheiser, and publishes product ads to 12 channels, including ChatGPT and Perplexity

  7. 2018Active

    INNOVX

    The founders' joint holding and investment company in Gothenburg. Auditor: KPMG, which took over from BDO.

    • RSVNFounders
    • Hosts investor and founder gatherings at the office at Masthamnsgatan 21, including unofficial side events to the GoWest investor forum

  8. 2021Wound down 2025

    Artificial Collective

    AI strategists, data scientists and machine-learning engineers acting as an external AI department for clients. Started in 2021, a year before ChatGPT launched, with André Ollesson as co-founder and COO.

    • RSVNStarted it through INNOVX (parent company)
    • Assignments in fintech, retail, medtech and manufacturing
    • The team experimented with training proprietary language models for domain-specific client cases — an early attempt at vertical language models, the year before ChatGPT launched

  9. 2021Bankrupt 2024

    Beelectric

    A staffing company in Gothenburg focused on hiring out skilled workers to businesses.

    • RSVNCo-founders
    • Registered in 2021. In 2022 the company had an average of 33 employees, SEK 16.9M in revenue and a net result of SEK −1.0M
    • Bankruptcy opened in April 2024 and concluded in February 2026

  10. 2026Active

    AI Gothenburg

    A non-profit hub for AI founders at Masthamnsgatan 21 in Gothenburg, with NVIDIA, Business Region Göteborg and Region Västra Götaland as founding partners. Viktor is one of its initiators, together with Gothenburg founders, operators and investors. The hub takes no equity.

    • VNInitiator and board member
    • 35+ member companies in a hub of about 1,200 m² that opened in 2026
    • Investor Night in October 2026: 65 investors, 65 founders and 13 pitches, an official side event of Gothenburg Tech Week
    • A demo afternoon in April 2026 hosted by Viktor: 60+ founders and investors saw companies including Incredible, where Viktor is an angel investor, and Fintower, where INNOVX is an investor
    • Goal for 2030: 200 new AI companies

Active investments

Direct investments, made by INNOVX or personally by one of us. The role column shows who. Amounts and stakes are not disclosed.

  1. 2025Active

    Fintower

    Gothenburg-based AI platform for financial planning, analysis and performance management.

    • INNOVXInvestment
    • VNBoard member
    • The company raised an oversubscribed €1.5M seed round in 2026 with Chalmers Ventures, Akka and the Stena family

  2. 2026Active

    Incredible

    Voice-controlled AI assistant that carries out tasks in a computer's apps.

    • VNAngel investor
    • The company's pre-seed totals SEK 26.5M, with Spintop Ventures and Starbright Invest

  3. 2026Active

    The Hub

    A Nordic startup-jobs platform launched by Danske Bank in 2015 and sold to Mesh Community in 2023. INNOVX bought shares in The Hub from Mesh.

    • INNOVXInvestment
    • The Hub had 300,000 candidate profiles and about 10,000 registered startups when Danske Bank sold the platform in 2023

  4. —Active

    Realforceformerly Adfenix

    A marketing platform for real-estate agents and brokerage networks, built around 'embedded marketing infrastructure for real estate'. Based on Masthamnsgatan in Gothenburg — the same waterfront area as INNOVX and AI Gothenburg.

    • INNOVXInvestment, including in share issues
    • SEK 105.1M in net sales in 2025, up 67% from 2024, with 35 employees
    • Net sales over the 5-year period 2021–2025: SEK 78.5 → 95.4 → 54.6 → 62.9 → 105.1M. Net result: SEK −7.3 → −16.9 → −23.5 → −10.7 → −18.3M
    • Positive EBITDA in 2025 (+SEK 3.6M) after four years of negative EBITDA (SEK −15.6M in 2023); the 2025 result after financial items was SEK −18.2M
    • The company raised just over SEK 50M in 2023 from investors including Spiltan Invest and Industrifonden

  5. —Active

    DB24

    Gothenburg-based software that automates SQL Server operations and monitoring.

    • INNOVXInvestment, including in a share issue
    • VNBoard member until 2026
    • The company raised about SEK 18M in 2024 in a round led by Almi Invest
    • 100+ Nordic organisations use the platform, including BHJ, Benders, Coop, Securitas, Soltak and Filipstad municipality
    • About USD 1M in annual recurring revenue (2026, information from the founders)

  6. 2023Active

    Mindpark

    Mindpark is a Nordic entrepreneur hub for growth companies with workspaces in Gothenburg, Malmö, Helsingborg, Lund, Stockholm and Mölndal. INNOVX is a shareholder in Mindpark's hub in central Gothenburg, which opened in 2023 and sits in the same waterfront area as AI Gothenburg.

    • INNOVXShareholder
    • 42 offices, 24 open desks and meeting rooms when the Gothenburg hub opened in Brick Studios at Masthuggskajen in 2023

Fund investments

INNOVX is a Limited Partner in two Nordic venture funds. We are passive investors in the funds.

Nordic early stage · Limited Partner

Spintop Ventures

Venture capital investor in early-stage Nordic software companies since 2010. Four funds and close to SEK 2 billion under management (2022), anchored by the European Investment Fund (EIF) and Saminvest.

The fund's own record: 60+ investments and 20+ exits

Nordic B2B software · Limited Partner

Ampli Ventures

Stockholm-based investor in early-stage Nordic B2B software companies. Founded in 2022 by Hannah Meiton and Adrian Iredahl together with Alfvén & Didrikson.

The funds' portfolio companies are the funds' investments, not INNOVX's, and are therefore not listed here. Commitments and terms are not disclosed.

Board roles

A selection of registered board roles, with links to Swedish Companies Registration Office (Bolagsverket) records via Allabolag. Every role, including personal investment companies, dormant companies and companies being wound up, is in the full lists below.

CompanyRichard SörenssonViktor NordSource
Aktiebolaget innovx Holding559185-0002ChairMember
innovx Management AB559195-5553MemberChair
Innovx Financial Services AB559546-1152ChairMember
Adway AB559126-9286MemberMember
Reducero AB556957-7728MemberDeputy member
Fintower AB559468-3913—Member
Gothenburg AI Alliance ek. för.769643-8022—Member

All registered roles:Richard Sörensson Viktor Nord

Press, awards and talks

Dated and linked, newest first. Headlines appear as originally published, many of them in Swedish; for awards, the award name is shown.

  1. 18 Aug 2026

    Spintop Ventures · Press release

    Spintop Ventures backs Incredible, the Swedish startup letting you talk to your computer

    Viktor among the angel investors in Incredible's pre-seed round.

  2. 31 Jul 2026

    Reducero · Press release

    Reducero ansöker om tillstånd som kreditmarknadsbolag och inleder nästa tillväxtfas

    Founded by Richard in 2015; Richard and Viktor together hold a majority.

  3. 22 Jun 2026

    Business Region Göteborg · Article

    Bolagen strömmar in i AI Gothenburg

    The hub has opened; Viktor is named among the serial entrepreneurs whose companies (Adway) are based there.

  4. 18 Mar 2026

    Breakit · Article

    Nya AI-hubben AI Gothenburg ska skapa 200 bolag på fyra år

    On the launch of AI Gothenburg, the hub Viktor co-initiated, and its goal of 200 new AI companies.

  5. 12 Sep 2024

    Adway · Video

    The Genesis of Adway!

    Viktor on the path from early HR tech and social media advertising to co-founding Adway.

  6. 27 Jun 2024

    Adway · Podcast

    TA Tech Unboxed: Attract the Best Talent Faster than the Competition

    Adway's write-up of the podcast episode featuring Viktor and Sara Dalsfelt.

  7. 19 Jun 2024

    Adway · Video

    Rethinking Recruitment: Industry Experts on Indeed's Big Shift

    Roundtable with Chad Sowash, House of HR and others on Indeed's new strategy.

  8. 17 Feb 2024

    Breakit · Article

    Adway tar in 31,6 miljoner kronor i nyemission – får in ny ägare

    A share issue in Adway that brings in a new shareholder.

  9. 15 Sep 2023

    TA Excellence · Video

    Viktor Nord, HR Tech Entrepreneur, Head of Growth, Adway

    Interview on giving recruiters the same tools as sales and marketing teams.

  10. 2 Jun 2023

    Recruiting Brainfood · Video

    Brainfood Live On Air - Ep208 - How Google's AI-powered Search Generative Experience changes Recruitment Marketing

    Panel with Indeed, College Recruiter and UK Recruiters on AI search and recruitment marketing (episode sponsored by Adway).

  11. 5 Jan 2023

    Stena Fastigheter · Press release

    Adway expanderar och flyttar till Stuveriet på Masthuggskajen

    Richard on Adway's new Gothenburg office.

  12. 23 Nov 2022

    National Online Recruitment Awards · Award

    Winners 2022: Best Innovation in Online Recruitment

    Adway wins a UK industry award for innovation.

  13. 16 Nov 2022

    Breakit · Article

    Adway plockar in 100 miljoner – nu ökar de takten ännu mer

    €10M Series A from Spintop, Brightly and new owner Octopus Ventures.

  14. 13 Sep 2022

    Business Region Göteborg · Article

    Möt Göteborgs techscen: 5 frågor till Viktor Nord på Adway

    Interview on Adway and Gothenburg as a tech region; Viktor calls for more support for fast-growing tech companies.

  15. 1 Jun 2022

    Recruiting Brainfood · Video

    Founders Focus Ep29: Up close and personal with Viktor Nord and Adrian McDonald, Founder and CEO

    Viktor on how Adway was founded and built.

  16. 17 Sep 2021

    Adway · Video

    Adway at The Great Recruitment Reset - With Cornerstone, Broadbean + Enboarder

    Panel with Cornerstone, Broadbean and Enboarder on recruitment after the pandemic.

  17. 16 Jun 2021

    Breakit · Article

    Snabbväxande HR-uppstickaren Adway gasar – får in 32 miljoner

    Adway's first major share issue; until then it had grown without venture capital and was profitable in 2020.

  18. 2 Feb 2021

    Business Region Göteborg · Podcast

    #12. Göteborgs dolda techscen - Är regionens scaleups här för att stanna?

    Conversation with Emanuel Karlsten on Gothenburg's tech scene and its scale-ups.

  19. 17 Mar 2020

    Techrekpodden (Ants) · Podcast

    87. Möjligheter med annonsering på sociala medier med Viktor Nord

    On recruitment advertising on social media at the start of the pandemic, when ad costs had dropped sharply.

  20. 30 Nov 2018

    Techrekpodden (Ants) · Podcast

    46. HR Tech och annonsering med Viktor Nord

    On social job ads, career sites and retargeting.

  21. 8 Oct 2015

    Byggvärlden · Article

    Nav mellan Sverige och Norge

    Interview with Viktor, CEO of Sverige-Norge Personalförmedling, on Swedes working in Norway.

  22. Jun 2014

    SVT Rapport · Video

    SVT: Svenske sykepleiere til Norge gjennom Sverige-Norge.se

    Rapport interviewed Viktor at the office about Swedish nurses seeking jobs in Norway. The clip is on the company's YouTube channel.

  23. 3 Mar 2014

    Norden i Fokus · Press release

    Jobb i Norge löser inte svensk arbetslöshet

    On the seminar in the Swedish parliament on young people's jobs in the Nordics, where Viktor took part as CEO of Sverige-Norge.se.

  24. 15 May 2013

    Dagens Næringsliv · Article

    Nå kommer de velutdannede svenskene!

    Viktor on the well-educated Swedes seeking work in Norway; 60,000 job seekers registered with Sverige-Norge.se.

  25. 4 Sep 2012

    Internetworld · Award

    Årets entreprenörer plats 6: No Ink

    No Ink and its four founders ranked sixth; Tictail topped the list that year.

  26. 7 Sep 2011

    Mynewsdesk · Press release

    Epistle AB lanserar marknadens första posthanteringstjänst i molnet – No Ink®

    The launch, with Richard as CEO and co-founder.

  27. 5 Oct 2009

    Aftenposten · Article

    – Trendy å jobbe i Norge

    Recruitment founder Viktor on the sharp rise in Swedes wanting to work in Norway.

  28. 4 Sep 2009

    HegnarOnline · Article

    Svenske-"invasjon" i Norge

    Viktor, CEO of Sverige-Norge.se, on the Swedes moving to Norway for work.

  29. 3 Jul 2009

    Svenskt Näringsliv · Article

    Utan svensk rekrytering stannar Norge

    Profile of Sverige-Norge.se; Viktor says 1,500 Swedes found jobs in Norway through the company in 2008.

  30. 26 May 2009

    Founders Alliance · Award

    Viktor Nord främsta unga företagare i Västsverige

    Young Entrepreneur of the Year in West Sweden and national finalist.

  31. 21 Oct 2008

    Metro · Article

    Norge: Kom hit svenskar

    Viktor on Norway's need for Swedish workers; Viktor started the site after working in Norway.

Questions investors ask

Short answers to what investors most often want to know about us, with the same sources as the rest of the page.

Have the founders had exits?
Yes, three businesses sold. Viktor's first company, Sverige-Norge.se, later Hub 28, was sold in 2017 to the Norwegian staffing group CBA, and his recruitment software company Rekry was sold the same year to We Select, where the product became the Talent Software platform. No Ink, which Richard co-founded in 2011, is today part of the Moventures group and had SEK 66.9M in net sales in 2025 as Ekopost. Sales of private companies are rarely made public, so the buyers and years rest on the founders' information and the purchase prices are not public. Re:Nable and Artificial Collective are not counted as exits.
How much capital have their companies raised?
About SEK 280M from outside investors: about SEK 173M in Adway, which the founders built, and about SEK 110M in companies they invested in. Adway's rounds: €3.2M in 2021, €10M in a Series A led by the UK's Octopus Ventures in 2022 and SEK 31.6M in 2024. Plus Realforce (just over SEK 50M, 2023), Incredible (SEK 26.5M in pre-seed in total, most recently 2026), DB24 (about SEK 18M, 2024) and Fintower (€1.5M, 2026). Euro amounts are converted at the ECB rate on the round's date. These are the companies' own rounds, not INNOVX's investment.
How large are the companies today?
Adway had SEK 63.0M in net sales in 2025, level with 2022, and 300+ clients in 54 countries. Reducero had SEK 50.0M in 2025. According to the founders it brokers about SEK 1.5 billion in loans a year and has had more than 150,000 customers since 2015. Realforce, where INNOVX is an investor, had SEK 105.1M. In the peak year 2022, the companies the founders started, Reducero, Adway, Beelectric, Re:Nable, INNOVX and Artificial Collective, together had an average of more than 200 employees.
Are the companies profitable?
Reducero made a profit in 2025 (SEK 0.6M) and has had positive EBITDA in four of the last five years, with net sales varying between SEK 39M and 56M. Adway made a loss every year 2021–2025: EBITDA improved from SEK −44.2M in 2023 to SEK −1.4M in 2025, and the 2025 net result was SEK −13.4M. According to the founders, Adway has had positive EBITDA every month since February 2026, about SEK 6M in total for January–September 2026, and has been above the Rule of 40 for three months in a row, July–September 2026, measured as growth in invoiced revenue versus the same month a year earlier plus EBITDA margin. The full-year 2026 forecast is about €1M in EBITDA. Realforce had positive EBITDA in 2025 (+SEK 3.6M) after four years of negative EBITDA, with a result after financial items of SEK −18.2M.
What hasn't gone to plan?
Re:Nable, which the founders co-founded in 2018, went bankrupt in February 2025. Its technology and customers moved on to a new company, Renable Marketing AB, which runs the platform today with clients including NetOnNet, Webhallen and LG. Artificial Collective, the AI consultancy the founders started in 2021, was wound down in 2025. Beelectric, a staffing company the founders started in 2021 and which had 33 employees in 2022, went bankrupt in April 2024. Adway grew quickly after its venture rounds, but net sales have stayed around SEK 63M since 2022 and the company made a loss every year 2021–2025. After a restructuring with fewer employees, Adway has had positive EBITDA every month since February 2026, according to the founders.
Who does what?
Richard is the product and technology founder: a developer by background, a former CTO, today Head of Innovation at Adway and the founder of Reducero. Viktor is the commercial founder: nearly 20 years in go-to-market and recruitment marketing, Head of Growth at Adway and one of the initiators of AI Gothenburg. Both co-founded Adway and sit on its board, which James Saunders chairs. Adway has no CEO: the founders run the company, Viktor all go-to-market and Richard all technology.
How is Reducero connected to the founders and INNOVX?
Richard founded Reducero in 2015 and sits on its board, where Viktor is a deputy member; the company is run by an external CEO, Magnus Flyckt. Reducero is a subsidiary of INNOVX, and Richard and Viktor together hold a majority. It has been licensed by the Swedish FSA (Finansinspektionen) for consumer credit intermediation since 2015, applied in July 2026 for a credit market company licence, and the existing licence stays valid while the application is reviewed. Under the new rules, loan brokers must be a bank or a credit market company. The founders consider it highly likely that the licence will be granted, supported by the application, consulting firms and a proposed new board. If it is not granted, the company would need to pivot quickly.
What does INNOVX invest in?
Directly in Nordic tech and AI companies, today Fintower, Incredible, Realforce, DB24, The Hub and Mindpark, and as a Limited Partner in the venture funds Spintop Ventures and Ampli Ventures. Adway and Reducero are companies the founders built themselves and are not listed as investments. The holdings sit in different structures, in INNOVX or with the founders personally, and the ownership picture differs a lot between companies. Amounts and ownership stakes are not public.
Are there links between the companies and the investors?
Yes, and they are disclosed here. INNOVX is a Limited Partner in Spintop Ventures, which has also invested in Adway and Incredible. Reducero is a subsidiary of INNOVX. The AI Gothenburg hub is at Masthamnsgatan 21, the same address as INNOVX and Adway. The companies in the hub include Adway and Fintower, where INNOVX is an investor and Viktor a board member. The hub takes no equity in companies. The hub's chair, Daniel Johnsson, also chairs Renable Marketing AB, the company that runs Re:Nable's platform today.
Was Adway founded in 2017 or 2018?
Adway AB was registered with the Swedish Companies Registration Office on 27 September 2017. Some databases and articles give 2018.
How can I check these facts?
Every fact has a numbered source, most often Swedish Companies Registration Office data via Allabolag, press releases or the companies' own pages. In the registers the founders are listed as Lars Richard Sörensson and Viktor Alexander Nord. Facts without a public source are marked as information from the founders. Everything is also available as structured data in facts.json.

Contact

[email protected]

Get in touch about co-investments, fund matters or a company we should know about.

Masthamnsgatan 21
413 29 Göteborg

Sources

Every source on the page, numbered in order of first appearance. Facts without a public source are marked as information from the founders.

  1. 1Founders Alliance: Viktor Nord named West Sweden's leading young entrepreneur26 May 2009
  2. 2Byggvärlden: A hub between Sweden and Norway8 Oct 2015
  3. 3Mynewsdesk: Epistle AB lanserar marknadens första posthanteringstjänst i molnet – No Ink® (press release, Swedish)7 Sep 2011
  4. 4viktornord.com: Viktor Nord's personal website (self-published)
  5. 5Allabolag (Bolagsverket): No Ink AB — owner and 2025 accounts
  6. 6INNOVX: Stated by the founders themselves, without a public source. Questions to [email protected].
  7. 7Spintop Ventures: Spintop Ventures invests in Gothenburg based HR tech company Adway raising €3.2M16 Jun 2021
  8. 8DLA Piper: DLA Piper has advised Adway on its EUR 10 million capital raising led by British Octopus Ventures16 Nov 2022
  9. 9Breakit: Adway raises SEK 31.6 million in a new share issue – gains a new owner17 Feb 2024
  10. 10Spiltan Invest: Spiltan Invest invests in Realforce13 Jul 2023
  11. 11Spintop Ventures: Spintop Ventures backs Incredible, the Swedish startup letting you talk to your computer18 Aug 2026
  12. 12Almi Invest: Almi Invest leads investment in Swedish tech company DB2414 Nov 2024
  13. 13Tech.eu: Fintower completes €1.5M oversubscribed seed round5 Feb 2026
  14. 14Europeiska centralbanken (ECB): EUR/SEK reference rate on each round's date: 10.1283 (2021-06-16), 10.7658 (2022-07-04), 10.8754 (2022-11-16), 10.641 (2026-02-05)5 Feb 2026
  15. 15Allabolag (Bolagsverket): Adway AB — 2025 annual report: SEK 63.0M net sales, 17 employees in the parent companyDec 2025
  16. 16Allabolag (Bolagsverket): Reducero AB — 2025 annual report: SEK 50.0M net sales, 41 employees, profitableDec 2025
  17. 17Reducero: Reducero applies for a credit market company licence and enters its next growth phase31 Jul 2026
  18. 18Allabolag (Bolagsverket, data från UC): Adway AB — key figures 2021–2025: employees 25 → 45 → 44 → 28 → 17; EBITDA improved from SEK −44.2M (2023) to SEK −1.4M (2025)Dec 2025
  19. 19Companies House: Adway AI Limited, subsidiary of Adway AB — annual accounts: an average of 9 employees in the financial year to February 2023, 1 in the years to February 2025 and 2026Jul 2026
  20. 20Allabolag (Bolagsverket, data från UC): Reducero AB — key figures 2021–2025: employees 62 → 132 → 74 → 45 → 41; profitable EBITDA in 4 of 5 yearsDec 2025
  21. 21Allabolag (Bolagsverket, data från UC): Beelectric AB — annual accounts 2021–2022: employees 7 → 33, revenue SEK 16.9M in 2022Dec 2022
  22. 22Allabolag (Bolagsverket, data från UC): Renable AB — annual accounts 2019–2023: employees 1 → 3 → 5 → 8 → 9Dec 2023
  23. 23Allabolag (Bolagsverket, data från UC): innovx Management AB — key figures 2021–2025: employees 6 → 5 → 5 → 4 → 5Dec 2025
  24. 24Allabolag (Bolagsverket, data från UC): Artificial Collective Sweden AB — annual accounts 2022–2024: employees 3 → 5 → 4Dec 2024
  25. 25Allabolag (Bolagsverket, data från UC): Realforce AB — key figures 2021–2025: employees 38 → 54 → 43 → 39 → 35; EBITDA positive in 2025 (+SEK 3.6M) after four years of lossesDec 2025
  26. 26Reducero: About Reducero — founders, owners, 24 lenders and about 5,000 applications per monthOct 2026
  27. 27Finansinspektionen: Company register: Reducero AB, consumer credit intermediation since 2015-05-1515 May 2015
  28. 28Internetworld via web.archive.org: Entrepreneurs of the year, no. 6: No Ink4 Sep 2012
  29. 29Ekopost: Ekopost® is developed, marketed and sold by No Ink AB
  30. 30Allabolag (Bolagsverket): No Ink AB (Ekopost) — 2025 annual report: SEK 66.9M net sales, 13.6% profit marginDec 2025
  31. 31Adway: Our story — founders, board and key figuresOct 2026
  32. 32renable.com via web.archive.org: About — Founders of re:nable21 Oct 2019
  33. 33re:nable (Mynewsdesk): re:nable secures €1.5M in Seed funding4 Jul 2022
  34. 34Allabolag (Bolagsverket): Artificial Collective Sweden AB — registered 2021, parent company Aktiebolaget innovx Holding
  35. 35The Org: Richard Sörensson — career
  36. 36INNOVX (avtalskälla i grundarnas arkiv): Stated by the founders themselves, without a public source. Questions to [email protected].30 Nov 2020
  37. 37artif.se via web.archive.org: Artificial Collective — your external AI department25 Dec 2023
  38. 38Allabolag (Bolagsverket): Aktiebolaget innovx Holding — officers
  39. 39Sverige-Norge.se via web.archive.org: Our history — Sverige-Norge.se 2006–201312 Aug 2013
  40. 40rekry.se via web.archive.org: REKRY — innovative recruitment and employer branding15 Nov 2016
  41. 41Techrekpodden (Ants): 46. HR Tech och annonsering med Viktor Nord (in Swedish)30 Nov 2018
  42. 42Techrekpodden (Ants): 87. Opportunities in social media advertising with Viktor Nord17 Mar 2020
  43. 43Recruiting Brainfood (YouTube): Brainfood Live On Air - Ep208 - How Google's AI-powered Search Generative Experience changes Recruitment Marketing2 Jun 2023
  44. 44Allabolag (Bolagsverket): Adway AB — 5-year series 2021–2025: net sales grew from SEK 33.8M to SEK 63.0MDec 2025
  45. 45Allabolag (Bolagsverket): Fintower AB — officers
  46. 46AI Gothenburg: AI Gothenburg — founders and board2026
  47. 47Breakit: New AI hub AI Gothenburg aims to create 200 companies in four years18 Mar 2026
  48. 48LinkedIn: Viktor Nord
  49. 49Norden i Fokus (Mynewsdesk): Jobs in Norway will not solve Swedish unemployment3 Mar 2014
  50. 50weselect.com via web.archive.org: We Select offers Rekry™: career page, candidate management and REKRYSHOP26 Aug 2018
  51. 51Allabolag (Bolagsverket): Gothenburg AI Alliance (economic association) — officers
  52. 52viktornord.com via web.archive.org: YEOS årskongress 2012 – minnesvärt! (self-published)22 Apr 2012
  53. 53Allabolag (Bolagsverket): Adway AB, registered 27 September 2017
  54. 54Renable Marketing AB: renable.com — client logos (NetOnNet, Webhallen, Komplett, LG, Sennheiser and others) and 12 AI channels incl. ChatGPT and PerplexityOct 2026
  55. 55Svenskt Näringsliv via web.archive.org: Without Swedish recruitment, Norway stops3 Jul 2009
  56. 56Metro via web.archive.org: Norway: come here, Swedes21 Oct 2008
  57. 57Aftenposten via web.archive.org: – Trendy to work in Norway5 Oct 2009
  58. 58Dagens Næringsliv: Here come the well-educated Swedes!15 May 2013
  59. 59Sverige-Norge.se på YouTube (klipp ur SVT Rapport): SVT: Swedish nurses to Norway through Sverige-Norge.se4 Jun 2014
  60. 60Sverige-Norge.se via web.archive.org: Sverige-Norge.se in the media3 Oct 2011
  61. 61Sverige-Norge.se via web.archive.org: References, with a quote from Jonas Gahr Støre2 Oct 2011
  62. 62Sveriges Radio: Sommar i P1: Jonas Gahr Støre6 Jul 2009
  63. 63Reducero: Compare loans with a single credit check
  64. 64Allabolag (Bolagsverket): Reducero AB, registered 9 January 2014
  65. 65Allabolag (Bolagsverket): Reducero AB — annual accounts 2021–2025: net sales and result by yearDec 2025
  66. 66Allabolag (Bolagsverket): Reducero AB — group: the parent company is Aktiebolaget innovx Holding
  67. 67Allabolag (Bolagsverket): Reducero AB — officers
  68. 68rekry.se via web.archive.org: Rekry — selected clients and career sites26 Apr 2017
  69. 69weselect.com via web.archive.org: We Select — Talent Software17 Jul 2019
  70. 70Allabolag (Bolagsverket): Adway AB — officers
  71. 71Breakit: Fast-growing HR challenger Adway accelerates – raises SEK 32 million16 Jun 2021
  72. 72Spintop Ventures: Adway secures EUR 10 million16 Nov 2022
  73. 73National Online Recruitment Awards: Winners 2022: Best Innovation in Online Recruitment — Adway23 Nov 2022
  74. 74Adway: The 2022 Fosway 9-Grid features Adway as a Core Leader specialist in social recruiting2022
  75. 75Adway: Adway named Core Leader in Fosway 9-Grid 20232023
  76. 76Allabolag (Bolagsverket): Renable AB — bankruptcy opened 2025-02-10
  77. 77renable.com via web.archive.org: Case studies: LG Electronics and Logitech27 Nov 2021
  78. 78artif.se via web.archive.org: Artificial Collective — Create future history with AI1 Oct 2022
  79. 79Allabolag (Bolagsverket, data från UC): Beelectric AB — bankruptcy opened April 2024, concluded 2026-02-20Feb 2026
  80. 80AI Gothenburg: The hub is open, and it's filling fast22 Jun 2026
  81. 81AI Gothenburg: investor night. 65 investors. 65 founders. 13 pitches.16 Oct 2026
  82. 82AI Gothenburg: Two teams. One afternoon. Live demos.28 Apr 2026
  83. 83The Hub: The Hub — Nordic startup-jobs platform
  84. 84ArcticStartup: Norwegian co-working community acquires the largest startup recruiting platform in the Nordics27 Feb 2023
  85. 85Danske Bank: Danske Bank sells TheHub26 Feb 2023
  86. 86Allabolag (Bolagsverket): Realforce AB (formerly Adfenix, org 556951-2451) — 2025 annual report: SEK 105.1M net sales (+67% YoY), 35 employeesDec 2025
  87. 87Allabolag (Bolagsverket): Realforce AB — 5-year series 2021–2025: net sales grew from SEK 78.5M to SEK 105.1MDec 2025
  88. 88DB24: db24.ai — 100+ Nordic organisations, customers incl. BHJ, Coop, Securitas, Soltak and Filipstad municipalityOct 2026
  89. 89Mindpark: A new workspace in Gothenburg24 Nov 2022
  90. 90ArcticStartup: Swedish VC firm Spintop Ventures receives additional support for its fourth fund12 Jul 2022
  91. 91Spintop Ventures: Team Spintop — investments and exits
  92. 92Ampli Ventures: Ampli Ventures
  93. 93Alfvén & Didrikson: A&D and Ampli Ventures15 Sep 2022
  94. 94Allabolag (Bolagsverket): innovx Management AB — officers
  95. 95Allabolag (Bolagsverket): Innovx Financial Services AB — officers
  96. 96Business Region Göteborg: Companies flock to AI Gothenburg22 Jun 2026
  97. 97Adway (YouTube): The Genesis of Adway!12 Sep 2024
  98. 98Adway: TA Tech Unboxed: Attract the Best Talent Faster than the Competition27 Jun 2024
  99. 99Adway (YouTube): Rethinking Recruitment: Industry Experts on Indeed's Big Shift19 Jun 2024
  100. 100TA Excellence: Viktor Nord, HR Tech Entrepreneur, Head of Growth, Adway15 Sep 2023
  101. 101Stena Fastigheter: Adway expands and moves to Stuveriet at Masthuggskajen5 Jan 2023
  102. 102Breakit: Adway brings in SEK 100 million – and speeds up further16 Nov 2022
  103. 103Business Region Göteborg via web.archive.org: Meet Gothenburg's tech scene: 5 questions for Viktor Nord of Adway13 Sep 2022
  104. 104Recruiting Brainfood: Founders Focus Ep29: Up close and personal with Viktor Nord and Adrian McDonald, Founder and CEO1 Jun 2022
  105. 105Adway (YouTube): Adway at The Great Recruitment Reset - With Cornerstone, Broadbean + Enboarder17 Sep 2021
  106. 106Business Region Göteborg: #12. Gothenburg's hidden tech scene: are the region's scale-ups here to stay?2 Feb 2021
  107. 107HegnarOnline via web.archive.org: Swedish "invasion" in Norway4 Sep 2009
  108. 108Allabolag (Bolagsverket): Renable Marketing AB — officers
  109. 109Allabolag (Bolagsverket): Lars Richard Sörensson — all registered roles
  110. 110Allabolag (Bolagsverket): Viktor Alexander Nord — all registered roles