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Partner
Technology · SaaS · Digital Commerce

Where tech meets
real business

We build and acquire SaaS products for e-commerce — backed by a legacy business we inherited, transformed, and turned into the engine that funds our growth.

Our investments in new SaaS and technology ventures are financed through strong cash flows generated from bullion trading and other real assets, operated across a portfolio of retail brands in multiple markets.

Software built on
solid foundations

PixelFox is a technology company with a rare structural advantage: a profitable bullion and real assets trading platform that generates the cash flow to fund our SaaS acquisitions and product development. Our trading operations are conducted across multiple retail brands, creating diversified, stable, and recurring cash generation.

We transformed a traditional business by digitalizing it through our proprietary platforms. Today, that cash-generating engine forms the financial foundation of our strategy — enabling us to invest in, build, and acquire the next generation of e-commerce and technology solutions without relying solely on external capital.

This model allows us to combine operational profitability with scalable software growth, creating long-term shareholder value through disciplined reinvestment and technology-driven expansion.

Trusted by merchants worldwide
Our Focus

SaaS & Technology

We build and acquire scalable software products for the Shopify ecosystem and beyond. Our focus is on high-impact, performance-driven tools that help merchants optimize conversion, increase average order value, and operate more efficiently. Today, our applications serve thousands of merchants globally.

Our core offerings include:

PixelFox — Conversion API & Pixel Manager

Advanced tracking infrastructure enabling accurate data collection and improved marketing performance.

Smart Upsell AI — AI-Powered Upselling

AI-driven solutions designed to increase revenue per customer through intelligent product recommendations.

Custom Development & Platform Services

Tailored technology solutions and integrations supporting merchants and partners across multiple e-commerce platforms.

Through disciplined product development and selective acquisitions, we aim to expand our portfolio of recurring SaaS revenue streams while leveraging our in-house technical expertise and capital-efficient operating model.

Our Foundation

A Legacy Business, Rebuilt

We inherited a traditional bullion trading operation, and transformed it through proprietary, in-house developed platforms. By digitalizing and streamlining the entire value chain, we rebuilt the business into a lean, data-driven, and scalable operation.

Key characteristics:

Rebuilt and Digitalized

Proprietary in-house platforms powering the entire value chain from acquisition to settlement.

Profitable & Cash-Generative

Sustainable, recurring cash flow financing our SaaS expansion and product development initiatives.

Real-World Validation

Proven demonstration that our technology performs in live commercial environments at scale.

Today, this profitable foundation generates the recurring cash flow that finances our SaaS expansion and product development initiatives — providing both financial stability and operational proof of our ability to modernize traditional industries through technology.

Pillar 1

SaaS & Development

We build and acquire scalable software products for the global e-commerce ecosystem. Our Shopify applications serve thousands of merchants, while our in-house development team continuously enhances and expands the platforms that integrate our technology stack.

Our strategy is focused on recurring revenue models, high gross margins, and data-driven product optimization. By combining organic development with selective acquisitions, we accelerate growth while maintaining disciplined capital allocation.

  • Recurring SaaS revenue with scalable margins
  • Proprietary in-house development capabilities
  • Strategic acquisitions to expand product portfolio and market reach
  • Continuous product optimization driven by merchant data
Pillar 2

Investments

We allocate capital into high-conviction opportunities aligned with our long-term strategic vision. This includes our stake in Servana AB, as well as selected positions within blockchain and emerging technology sectors.

Our investment approach is disciplined and opportunistic. We focus on scalable platforms, structural growth trends, and technology-driven business models that can compound in value alongside our core operations.

  • Strategic minority and majority holdings
  • Exposure to blockchain and emerging technologies
  • Capital allocation driven by long-term value creation
  • Complementary assets that strengthen our ecosystem
Pillar 3

The Foundation

Our bullion trading operations — conducted under several established retail brands, were inherited and subsequently rebuilt using our proprietary technology. What was once a traditional business has been transformed into a streamlined, digitalized, and capital-efficient platform.

This foundation provides the financial strength that enables our SaaS expansion and strategic investments. Excess liquidity may be selectively allocated to additional real asset investments with a disciplined approach, focusing on capital preservation, tangible value, and long-term stability.

  • Profitable bullion trading under established retail brands
  • Digitalized and optimized through proprietary platforms
  • Real asset exposure as a stabilizing component of the Group
  • Selective investment of excess liquidity into additional real assets

Acquired. Incubated. Exited for 19 MSEK.

We acquired UserDesk — an AI-powered customer service platform — brought it into the PixelFox ecosystem, and continued developing it with our team. When Servana AB came knocking, we closed the deal at 19 MSEK, turning a strategic acquisition into a major return.

19 MSEK Exit value
~75% Stake in Servana
14 months Hold period
UserDesk Acquired
Servana 19 MSEK Exit
Our Approach

One mindset.
Every product.

Our operating philosophy is consistent across the Group, from SaaS platforms to real asset operations. We apply the same structured, data-driven methodology to everything we build, acquire, and optimize.

01

Automate

If it can be automated, it should be.

We replace manual processes with intelligent, system-driven workflows, across our SaaS applications as well as within our own trading and operational platforms. Automation increases efficiency, reduces risk, and strengthens margins.

02

Optimize

Every product we touch improves.

We measure performance, analyze data, iterate continuously, and refine execution, whether optimizing a Shopify conversion funnel or enhancing a trading infrastructure workflow. Incremental improvements compound over time.

03

Scale

We build for long-term growth.

Platforms designed for ten users today are engineered to serve ten thousand tomorrow. Scalability is embedded in our architecture, enabling expansion without proportional increases in cost.

Through this approach, we combine technological discipline with operational execution, ensuring that growth is both scalable and financially sustainable.