Main announces the majority investment in Millum, a Norwegian Procure-to-Pay software provider for the hospitality sector.
Moving forward, Main will act as a strategic partner to the management team, supporting Millum in its growth journey. By pursuing a selective buy-and-build strategy and by adding complementary solutions to fuel cross-selling, Millum has strong potential to further internationalize. This strategic move marks Main Capital’s first stand-alone platform investment into the Norwegian market.
Millum, founded in 2002 in Norway by CEO Bjørn Anskau, business developer Knut Øksby, and CFO Roberto Padin, has emerged as a frontrunner in the procurement technology domain. The company’s SaaS-based “Procure-to-Pay” platform caters to hotels, restaurants and canteens, streamlining processes, simplifying the flow of information and enhancing trade efficiency. Millum currently serves more than 95% of the suppliers and more than 90 purchasers within the hospitality sector across the Nordics, including renowned clients, such as Strawberry Hotels, Scandic Hotels, and Coor Service Management.
Attractive product market and international scalability
Millum has built an attractive modular product portfolio which is well positioned for further growth and international expansion. The company, active in the procurement market, will be able to benefit from Main Capital Partners’ expertise, gained through previous investments in the procurement and broader supply chain management sector. Millum has a strong presence in Norway, with a growing presence in Sweden and Denmark, positioning it as a leading player in the Nordic market. With Main’s international growth support, Millum is poised to explore adjacent verticals and to continue growing internationally across the Nordics and Europe. Main will also support the company in a selective buy-and-build strategy to internationalize and strengthen the product offering with new solutions to establish a comprehensive one stop shop offering.
Bjørn Anskau, CEO of Millum, mentioned: “As we join forces with Main Capital Partners, we are excited about the possibilities that lie ahead for Millum. This partnership not only signifies our shared commitment to excellence but also accelerates our mission to revolutionize procurement processes in the Nordic region and beyond.”
The collaboration between Main Capital Partners and Millum is poised to unlock new opportunities for international expansion, leveraging Millum’s robust platform and Main Capital’s expertise in supporting companies on their global growth journeys.
“Millum’s market-leading position in Norway, coupled with its proven international scalability, aligns seamlessly with Main’s vision for strategic investments,” stated Wessel Ploegmakers, Partner & Head of Nordics at Main Capital Partners. “We see tremendous potential in Millum’s product portfolio and look forward to accelerating its growth trajectory by exploring new markets and expanding its international footprint.”
Millum’s market-leading position in Norway, coupled with its proven international scalability, aligns seamlessly with Main’s vision for strategic investments
– Wessel Ploegmakers, Partner & Head of Nordics at Main Capital Partners
About
Millum
Millum AS was founded in 2002 by Knut Øksby, Bjørn Anskau and Roberto Padin as main founders (together with two main investors) in Norway and is based at Fornebu, outside Oslo. Millum is a software company providing the preferred procurement system for hotels, restaurants and staff restaurants in the Nordics. The solution simplifies the procurement process for actors in the food service industry. Millum has 35 employees in total and operate across the Nordics. The total trading volume through Millum’s solution was NOK 11 billion in 2023.
