Raketech set to intensify company growth with new appointments

Måns Svalborn will replace Andreas Kovacs as Raketech’s Chief Financial Officer (CFO) after the former was announced as the company’s new Director of Business Development.

The purpose of the appointments is to further intensify the implementation of the company’s growth strategy, with Kovacs set to temporarily work alongside Svalborn in the CFO role as of 11 November to ensure a smooth transition.

Raketech, an online affiliate and content marketing company, specialises in delivering comparison services for sports and gaming, online guides, communities and social media products primarily for the Nordic region and the UK.

Svalborn, who joins Raketech from Credorax Bank, previously formed part of the Maltese bank’s executive management team in the role of CFO where he was responsible for Financial Control and Financial Operations.

Among previous positions, he has been Head of Group Regulatory Financial Reporting at Nordea, Group Finance Manager at Öhman Group and Senior Auditor at EY. Måns holds an MSc in Accounting and a BSc in Corporate finance, strategy and management.

Michael Holmberg, CEO at Raketech, commented: “I am very happy to welcome Måns Svalborn as our new CFO. Måns is a highly skilled finance professional with relevant experience across reporting, accounting and audit which will be valuable in the continued development of our finance department.”

Kovacs, who is “happy to fully focus” on his new role, will work alongside Svalborn until 1 December and is set to continue to be the main investor relations contact for the company.

Having been originally appointed as Raketech’s CFO ahead of the company’s listing on Nasdaq First North Premier Growth Market in June 2018, Kovacs has over the past year headed Raketech’s work to optimise its capital structure while also playing an important role in the company’s efforts in M&A and market expansion. In his new role as Director of Business Development, he will focus on the execution of Raketech’s growth strategy. 

Holmberg concluded: “Andreas has played an instrumental role in professionalising our finance department and built the foundation for our public disclosure as a listed company, while at the same time optimising the capital structure and working hard with potential M&A cases. As we are increasing the focus on geographical expansion and other growth initiatives, Andreas identified the need for someone to give this area its full attention. Given his experience, we believe it is optimal to have Andreas entering this role.

“All in all, with Måns as new CFO and Andreas as Director of Business Development, I am confident that we are in a great position to continue building long-term shareholder value.”

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