Stockholm-born playtech startup Boxbollen announced a €3.11M capital partnership with Juni, a financial platform for digital commerce, which will assist in capitalising on the startup’s explosive global growth.
Gamification of daily activities has become popular in recent years to entice people to become motivated in doing them. It includes the gamification of physical activities, which is the main focus of Boxbollen’s line of business.
Jacob and Victor Eriksson, co-founders of Boxbollen, say, “This partnership is a welcome step towards achieving our goal of a Boxbollen kit being in every living room in America. We are inspiring an at-home fitness movement and are confident that this festive season will see Boxbollen kits gifted far and wide, as family members urge each other to get fit and have fun doing it.”
Scope of the partnership
Juni’s centralised approach to managing its finances now allows Boxbollen to have full transparency in its financial spending.
Before partnering with Juni, Boxbollen was forced to rely on multiple banks and single currency cards to sustain their day-to-day financial matters.
Thanks to the access to virtual multi-currency cards provided by Juni, Boxbollen can resume its marketing strategy since the startup needs to manage ad spending across different countries and campaigns.
Furthermore, to ensure a stable year-round growth trajectory for its partner, Juni assists Boxbollen by providing a credit solution to ensure Boxbollen can continue acquiring customers in quieter periods and increase their spending before peak seasons.
Samir El-Sabini, CEO and co-founder at Juni, says, “We love working with disruptive and innovative companies that offer consumers something new, and Boxbollen is the perfect example of that. They’ve built a strong brand, a unique product offering, and have achieved tremendous growth.”
“We’re all about boosting cash flow and giving founders financial control, and we’re really excited to join them on the next phase of their journey and further fuel their growth,” adds El-Sabini.
Making physical activities fun
The Eriksson brothers founded Boxbollen in 2018 based on their experience living in an active household where both brothers have a strong passion for playing sports.
With a revenue of €11.3M in 2022, Boxbollen looks forward to becoming the leading global playtech brand in Europe and the US, currently its largest market.
The startup’s app has been downloaded over 500,000 times, and it has occupied the number one spot in this Swedish App Store for three years consecutively on Christmas Eve.
The playtech startup offers four different products – the regular Boxbollen Pack, the Family Pack, the Boxbollen Pink, and Boxbollen Black. They are designed for indoor and outdoor activities, which gives flexibility for the customers to do physical activities anywhere and anytime.
Boxbollen’s videos have received over 250 million combined views on TikTok, with its products owned and endorsed by prominent figures, including Bill Gates, Khloe Kardashian, Snoop Dogg, Dr Phil, Chantel Jeffries, Kyle Richards, and Nicole Scherzinger.
Read the orginal article: https://siliconcanals.com/news/startups/boxbollen-secures-3-1m/
