Fashion retailer H&M Group has acquired a minority ownership stake in Swedish retail technology firm Voyado, marking a strategic partnership to enhance customer engagement solutions.

The financial terms of the investment were not disclosed. Voyado, a specialist in omnichannel customer engagement, has established a significant market presence across the Nordics and Benelux regions and is now targeting expansion into the UK and Germany.

Erik Lagerblad, head of H&M Group Ventures, explained the rationale behind the investment: "We are really impressed by Voyado's journey so far. After rolling out their solution globally, we've seen firsthand the difference it makes in creating value at scale."

Erica Sandelin Ekelund, chief executive officer at Voyado, highlighted the company's ambitions: "Our ambition is to establish Voyado as Northern Europe's most beloved retail tech companion while maintaining profitability and scalability."

The investment comes as Voyado aims to challenge global competitors in the retail technology space. The company's existing investor base includes Novax, Verdane, and eEquity. Although H&M Group will not join the board of directors, its representatives will contribute to strategic discussions through other channels.

Voyado's platform focuses on helping retailers build customer relationships by optimising e-commerce, creating personalised experiences, and streamlining communication across different channels.

"We aim to challenge the global giants in our field and are well-positioned to grow our market share further across Europe," Ekelund added. "Retail isn't just what we do; it's our entire focus. This dedication allows us to build smarter, more effective products that address the challenges retailers face today."

The investment signals H&M Group's confidence in Voyado's technological capabilities and potential for future growth in the rapidly evolving retail technology landscape.

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