News Archive
08.February 2008
Phonect succeeds in raising capital in the turbulent financial market

Phonect, the Norwegian leading Voice-over-IP (VoIP) phone operator for the business segment, has raised NOK 20 mill. in growth capital. Storebrand Alternative Investments has become the second largest shareholder after the share issue.
The raised capital enables Phonect to further strengthen its solid market position within the Norwegian business VoIP market. Phonect has experienced strong growth during the last two years and the capital will be used to scale the distribution and marketing channels for continued strong growth.
Phonect had more than NOK 50 mill. in revenues in 2007, a significant increase from 2005 and 2006 when the revenues were respectively NOK 3 mill. and NOK 22 mill. Phonect was founded in 2004 and the two largest shareholders are Incitia Ventures and Storebrand Alternative Investments. The majority of the employees are also shareholders.