Main Capital makes first Norwegian platform deal with Millum

Millum is a procure-to-pay software provider for the hospitality sector.

  • Millum is based in Oslo
  • Main Capital is a software investor in the DACH, Benelux, Nordics and US
  • The firm manages over €2.2bn in assets

Main Capital Partners has made a majority investment in Millum, a Norwegian procure-to-pay software provider for the hospitality sector.

Oslo-based Millum serves over 95 percent of the suppliers and more than 90 purchasers within the hospitality sector across the Nordics, including clients such as Strawberry Hotels, Scandic Hotels, and Coor Service Management. The total trading volume through Millum’s product was NKr 11 billion ($1.05 billion; €968.9 million) in 2023.

Millum is Main Capital’s first stand-alone platform investment in the Norwegian market.

Main will support Millum in a selective buy-and-build strategy to internationalise and strengthen the product offering with new services to establish a one stop shop offering, according to a release.

“Millum’s market-leading position in Norway, coupled with its proven international scalability, aligns seamlessly with Main’s vision for strategic investments,” said Wessel Ploegmakers, partner and head of Nordics at Main. “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.”

Main Capital is a software investor in the DACH, Benelux, the Nordics, and the US. It has offices in the Hague, Düsseldorf, Stockholm, Antwerp and Boston and manages over €2.2 billion in assets.