Unloc plans to raise “several hundred million NOK” to expand internationally. At the same time, the company has acquired key expertise from Airbnb, Facebook, Arkwright and Documaster.
The start-up company, which digitalises keys, has entered into an agreement with major players in Norway, most recently with Usbl, which increases the company’s annual revenues by million.
Founder Kris Riise has international aspirations, however. The company’s recruitment efforts reflect this.
Now Co-founder and CEO Esben Poulsen in the incubator and investment company Arkwright X is assuming the position of chief operating officer (COO) in Unloc. In addition, the company has acquired key expertise from Facebook, Airbnb and Documaster.
At the same time, Riise discloses plans to “increase capital by several million kroner in the future”. The company’s largest issue of shares to date, which took place in March, amounted to NOK 25 million at a valuation of NOK 120 million.
“We are experiencing weekly growth in revenues and expect a strong increase in the future. We have no definite plans to issue shares this year, but at the same time we see many opportunities to quickly position ourselves in a huge international market,” the entrepreneur says.
Best of 1,000
Esben Poulsen started Arkwright X in 2017. Under his leadership, the investment company has invested in growing companies such as Spacemaker, and in 2018 it was one of the first to invest in Unloc. At the time, the team consisted of only the founders Riise and August Flatby.
“I have evaluated more than 1,000 start-ups in the last few years, and Unloc undoubtedly is he most promising company among them,” Poulsen maintains.
“I have followed the fantastic development that Unloc has achieved in a very short time. So when they asked if I wanted to take part in the journey, I just had to come aboard.”
Sold Rolex to buy shares
“What can you offer the company in the phase it is entering?”
“I especially hope to be able to contribute with my analytical and strategic competence but also to help with structure and organisation. We now have 24 employees, and the team will continue to grow rapidly, which places new demands on how we organise the team and how we work together. We need to ensure that we deliver on our ambitious goals of global growth,” says Poulsen.
“What do you expect from the transition?”
“Lots of hard work! We are building a global business from scratch, and you can’t do that while you sleep.”
“What exactly is your role in the company?”
“It will largely be to ‘gear up’ the business for the next growth phase that we are entering. That is, everything from strategy to structure and organisation. We are encountering extremely high demand from our customers and will do everything we can to deliver high quality to them.”
“Is this a long-term project for you?”
“Yes, definitely. I have invested all my savings and sold my beloved Rolex so I could buy some extra shares. So, yes, I’m all in!”
Company information from CapHub.io
ARKWRIGHT X AS
Arkwright X invests in promising B2B software start-ups. An advisory team assigned to each start-up will follow the company throughout the incubator process, providing support in the form of legal aid, accounting, marketing and communication.Read more about the company here
Gearing up the sales effort
In addition, the company has employed Jesper Vik and Lars Hvattum to head the international sales programme.
Vik served as project manager for Airbnb, where he was responsible for business development in Europe. He has been employed in the world-leading platform for private rental housing for seven years. Hvattum, for his part, comes from Documaster, the technological success where he was global sales director.
“The technology of Unloc solves a concrete problem for an incredible number of people all over the world. My focus is international growth. From previously sharing homes in Airbnb to now sharing keys in Unloc. We will open doors for everyone, everywhere,” says Vik.
