Fishing app developer secures $6m funding

Fishbrain, the Swedish-based sport fishing app developer, has secured $6m in funding following a share issue.

The capital was raised by the country’s venture capital fund, Industrifonden, and co-led by Lucerne Capital Management, a New York investment firm. With the capital, Fishbrain says it will be able to enhance its technology platform and accelerate market penetration, solidifying its position as a ‘go-to’ place for anglers.

“Increasing our ownership share and taking an active role in the company with this strategic investment is due to the value Fishbrain brings to fishing enthusiasts and partners worldwide and the long-term potential in the outdoor space and lifestyle,” said Tomas Bie, Investment Director at Industrifonden.

“We have been impressed by the growth and development of Fishbrain over the last couple of years and believe this investment will enable the company to accelerate its ambitions and further solidify its position as the world’s leading fishing app,” added Pieter Taselaar, Founding Partner and Portfolio Manager at Lucerne Capital.