Carlsquare advised GENUI and its portfolio company FACT-Finder on the acquisition of Loop54
FACT-Finder announced today that it is acquiring Loop54, making it one of the first major consolidations of leading e-commerce SaaS solutions in search, merch and personalisation. The merging of their proprietary algorithms will enable FACT-Finder customers to provide digital experiences that are unlike any other on the market and further expand FACT-Finder’s international presence.
Loop54 is the developer of one of the most powerful e-commerce platforms based on Artificial Intelligence, as well as the leading on-site search provider in the Nordics. With its in-house developed algorithm, Loop54 offers real-time, one-to-one personalisation that provides users with relevant search results at high speed to leading e-commerce companies, including Office Depot, Not on the High Street, and Oliver Bonas.
The acquisition accelerates innovation in e-commerce solutions for FACT-Finder customers and partners, giving them access to the latest developments in Machine Learning and Artificial Intelligence and providing them with a continued competitive edge. Integrating Loop54’s artificial neural network into FACT-Finder will advance the quality of product discovery in online shops, delivering unique and responsive results with minimal data requirements.
Emile Bloemen, CEO of FACT-Finder, emphasises: “With the expertise and unique approach that our new colleagues at Loop54 bring to the table, we will significantly expand our market leadership and push the bounds of what is possible in e-commerce. I was really impressed by Loop54’s real-time personalisation technology, especially paired with the small amount of data that it requires. Considering their large market share in Scandinavia and our cultural fit of passionate, professional and personable people, we knew it’d be the perfect match for FACT-Finder.”
Robin Mellstrand, CEO and co-founder of Loop54, describes: “Ten years ago, Mike Odin, Joel Kall and I had the idea to develop a personalised product search algorithm to improve relevance and speed in online shopping based on AI. Today, we are the only provider in the market to offer one-to-one personalisation in product search with such high performance, ultimately solving a key challenge in online customer experiences. Our driving force remains expanding this innovation across e-commerce businesses worldwide. By uniting with FACT-Finder, we are able to expand our innovation potential as well as reach a broader customer audience with FACT-Finder’s leading position in the DACH region. That’s why this acquisition is very important and exciting for us.”
In spring of 2021, FACT-Finder announced their new entrepreneurial partnership with GENUI, a Hamburg-based investment company, which was also advised by Carlsquare. Boris Klenk, Investment Director at GENUI, remarks: “With the acquisition of Loop54, we are not only strengthening the core offering of both companies but are also taking a big step to further scaling international growth.”
Carlsquare acted as the exclusive financial advisor to GENUI and its portfolio company FACT-Finder.