Here is the most important news from the past week from the unlisted companies on Eqvor's platform. Stay up to date with what is moving in the unlisted market.
Quartr — Grand slam in the USA and record growth
Quartr is one of the companies we are watching particularly closely right now, as the company is reported to be preparing a new funding round following its major successes in the USA.
The Stockholm-based research platform has built the leading platform for qualitative company analysis — and has quickly established itself as a standard tool among the world's most sophisticated asset managers.
Three of the world's five largest hedge funds (measured by assets under management) and two of the seven largest tech companies in the world, the so-called Magnificent 7, are today customers via Quartr's API.
The latest quarterly report (Q4 2025) confirms that growth shows no signs of slowing. ARR amounted to 112.7 MSEK at the turn of the year — more than tripled in one year. Net Revenue Retention of 118% shows that existing customers consistently buy more over time — a classic hallmark of a product with strong lock-in. Despite the aggressive pace of expansion, the company maintains a Magic Number of 1.1x and a burn multiple of 0.6x, which places Quartr in the top tier of European SaaS companies in terms of capital efficiency.
The company is backed by Altos Ventures — known as investors in Roblox and Coupang, among others — as well as Öhman, Flat Capital and Yanno Capital, all of which returned in the latest funding round of 100 MSEK last summer.
To Quartr shares →Candela — 320 MSEK in a new funding round, factory in Gdańsk
Candela has raised 320 MSEK (30 MEUR) with IFC, the World Bank's investment arm, as lead investor — existing owners EQT Ventures and SEB Private Equity are taking part. In total the company has now raised 129 MEUR since its founding. A new factory in Gdańsk opens in 2027 with capacity for 70 boats a year, compared with the existing 35 in Rotebro, and the order book of 65+ P-12 ferries corresponds to an order value of ~SEK 2 billion. CEO Gustav Hasselskog says the capital will last until a stock exchange listing in Stockholm in two to three years.
To Candela shares →Hasko Invest — Listing on the Stockholm Stock Exchange in sight
Hasko Invest, founded in 2021, is aiming for a listing on the Stockholm Stock Exchange by winter 2026. The company invests in companies with operating profit of up to 40 MSEK and has 15 portfolio companies. Revenue amounted to just over SEK 1 billion in 2025 with operating profit of 184 MSEK, compared with 807 MSEK and 156 MSEK in 2024.
To Hasko Invest shares →GreenGold — Record quarter
Q4 2025 vs Q4 2024
| Net sales | EUR 6.6 M (+37.8%) |
| Adjusted EBITDA | EUR 5.9 M (+130%) |
| EBITDA margin | 73.4% (Q4 2024: 49.6%) |
| Free Cash Flow | EUR 3.9 M (+105%) |
| Harvesting volume | 133 thousand m³ (+44%) |
Full year 2025 vs full year 2024
| Net sales | EUR 17.4 M (-12.5%) |
| Adjusted EBITDA | EUR 13.5 M (+3%) |
| Adjusted operating profit | EUR 12.8 M (+2.7%) |
| Free Cash Flow | EUR 7.6 M (EUR 0.70/share) |
| NRV per share | EUR 69.2 (Dec 2024: EUR 70.1) |
| Cash | EUR 10.4 M |
| Interest-bearing liabilities | EUR 0 |
| Dividend | EUR 0.50/share (+39% YoY) |
The full year was held back by lower timber prices in Sweden and Finland, but Q4 accelerated markedly. Ingka Investments' acquisition of Södra's forests in Estonia and Latvia for EUR 720 million confirms that GreenGold's forest assets — valued at EUR 715 million — are in line with current market pricing. A stock exchange listing remains a strategic priority, with no set timetable.
To GreenGold shares →A3P Biomedical — Double scientific validation in one week
Stockholm3 received two accolades during the week: the study in European Urology (Oct 2025) was selected as Editor’s Choice and shows that men with an elevated Stockholm3 score at a low PSA had a ~9 times higher risk of biochemical recurrence after curative treatment (HR 8.8). In addition, an independent study within the OPT programme (n=13,901) was awarded Best Oncology Abstract at EAU26 in London, where Stockholm3 reduced the number of referrals to MRI and biopsy without losing detection of clinically significant cancer.
To A3P Biomedical shares →Altris — Sodium-ion batteries as a strategic asset for European defence preparedness
Altris highlights the relevance of sodium-ion batteries for European defence preparedness: the technology copes with Arctic temperatures and field operations without a heat signature, requires no rare earth metals and can be manufactured from raw materials available in Europe. The partnership with Draslovka (19.3 MEUR in kind) provides production capacity of up to 350 tonnes of cathode active material a year at a plant in Kolín, Czech Republic, and EIC Accelerator funding was granted on 11 March 2026.
To Altris shares →Blykalla — SMR park planned in Norrsundet, Gävle
Blykalla is starting the permitting process for an SMR park in Norrsundet with six lead-cooled SEALER reactors and a combined output of ~300 MW — equivalent to electricity for ~150,000 households or a medium-sized data centre. Operations are planned to start in the first half of the 2030s, and the project is expected to create 300–400 direct jobs and several thousand indirect ones. CEO Jakob Stedman: ”The decision to move forward in Norrsundet is based both on the site’s favorable conditions and the growing need for stable, fossil-free electricity.”
To Blykalla shares →Cascade Drives — Technip Energies expands partnership and invests via convertible loan
Technip Energies is expanding its collaboration agreement with Cascade Drives and signing a convertible loan agreement that will make Technip Energies a shareholder in the company. The product e-MLA — a fully electric loading arm that replaces conventional hydraulic systems, reduces OPEX and eliminates hydraulic oil leaks — has been used in 2 projects since the partnership began in 2024, with a promising pipeline according to Technip. The amount invested has not been disclosed.
To Cascade Drives shares →Storsala — NORMAL leases 560 sq m in Tellus 4, Södertälje
NORMAL, a Danish retail chain with ~1,000 stores in Europe, is leasing 560 sq m in Storsala's property Tellus 4 in central Södertälje, with planned move-in in Q4 2026. It is the first new tenant since Storsala acquired the property in December 2025. CEO Erik Engvall: ”The letting to NORMAL is significant for Tellus 4 and confirms the property's attractiveness.”
To Storsala shares →CorPower Ocean — Selected for Mastercard Lighthouse MASSIV 2026
CorPower Ocean has been selected for the Spring 2026 cohort of Mastercard Lighthouse MASSIV, a partner programme that connects sustainability startups from the Nordics and the Baltics with global companies, financial institutions and investors to explore pilot projects, routes to commercialisation and funding opportunities.
To CorPower Ocean shares →
