🚀 VC round data is live in beta, check it out!

Swedish Tech Unicorns — March 2026

Last updated on 19 March 2026·Europe

These are the tech unicorns of Sweden

As of March 2026, there are now nearly 30 tech companies valued at over $1B that originated from 🇸🇪 Sweden in the last 10 years.

Spotify is the largest Swedish tech company, followed by Hexagon and Klarna
Most Swedish unicorns were acquired or went public, just a few remained independent
Lovable is Sweden's most valuable private unicorn (still independently owned)
Sweden is strong across consumer tech - Spotify (music), Klarna (BNPL), Embracer (gaming), Modern Times Group (gaming) and many more
Great online marketplaces come from Sweden - Hemnet, Etraveli Group

Unicorns of Sweden - ranking

This ranking includes tech companies in Sweden valued above $1 billion. It includes private, public and acquired companies. Most valuations are last reported or recently rumoured.

On ZIRP-era valuations: we exclude companies that latest reported valuation would be enough to hit the list, but it is expected that the company is now valued significantly lower.

#
1	Neo4j	$2.0B	$0.2B	10.0x	🚀 Private, rumoured to IPO
2	Einride	$1.8B	$0.1B	36.0x	🚀 Private, rumoured to IPO
3	Epidemic Sound	$1.4B	$0.2B	6.9x	🚀 Private, rumoured to IPO
4	Lovable	$6.6B	$0.4B	15.3x	🚀 Private
5	Legora	$5.5B	$0.0B	137.5x	🚀 Private
6	Stegra	$2.4B			🚀 Private
7	Kry	$2.0B	$0.3B	7.4x	🚀 Private
8	Neko Health	$1.8B	$0.0B		🚀 Private
9	Instabee	$1.4B	$0.0B		🚀 Private
10	Trustly	$1.4B	$0.2B	5.6x	🚀 Private
11	Modal	$1.1B			🚀 Private
12	Fortnox	$5.5B	$2.1B	2.6x	🤝 Acquired
13	Veoneer	$4.6B			🤝 Acquired
14	Etraveli Group	$3.1B	$2.4B	1.3x	🤝 Acquired
15	Itiviti	$2.6B	$0.2B	10.7x	🤝 Acquired
16	Mojang	$2.5B	$0.2B	11.4x	🤝 Acquired
17	Tink	$2.2B	$0.3B	7.7x	🤝 Acquired
18	Zettle	$2.2B	$0.2B	13.2x	🤝 Acquired
19	NetEnt	$2.0B			🤝 Acquired
20	Bambora	$1.8B	$0.2B	7.5x	🤝 Acquired
21	Marshall	$1.5B	$0.4B	3.6x	🤝 Acquired
22	Sana	$1.1B	$0.0B	110.0x	🤝 Acquired
23	Spotify	$95.6B	$20.5B	4.7x	📈 Public
24	Hexagon	$32.9B	$6.5B	5.1x	📈 Public
25	Polestar	$6.9B	$2.0B	3.4x	📈 Public
26	Klarna	$5.0B	$2.8B	1.8x	📈 Public
27	NOBA Bank	$5.1B	$1.3B	4.1x	📈 Public
28	Sinch	$2.5B	$3.0B	0.8x	📈 Public
29	Modern Times Group	$1.4B	$1.3B	1.1x	📈 Public
30	Bonesupport	$1.4B	$0.1B	10.5x	📈 Public
31	Paradox Interactive	$1.3B	$0.2B	5.1x	📈 Public
32	Hemnet	$1.2B	$0.2B	7.0x	📈 Public
33	NCAB Group	$1.2B	$0.4B	2.8x	📈 Public
34	Plejd	$1.0B	$0.1B	9.7x	📈 Public
35	Embracer Group	$1.0B	$2.4B	0.4x	📈 Public
36	Oatly	$0.9B	$0.9B	1.0x	📈 Public
37	RevolutionRace	$0.7B	$0.2B	3.5x	📈 Public
38	Mips	$0.7B	$0.1B	11.7x	📈 Public
39	Storytel	$0.7B	$0.5B	1.5x	📈 Public
40	BHG Group	$0.6B	$1.2B	0.5x	📈 Public
41	Truecaller	$0.3B	$0.2B	1.4x	📈 Public