H100 Group Secures SEK 21 Million in Financing Led by Adam Back
A SEK 21 million raise, a Bitcoin treasury strategy, and Adam Back behind it - H100 is making moves that matter.
By Nordics Bitcoin Staff 25/05/2025
In a landmark move for Sweden’s emerging Bitcoin treasury sector, H100 Group AB has announced the successful completion of a SEK 21 million financing round through a series of convertible loan agreements - led by none other than legendary Bitcoin pioneer Dr. Adam Back.
This funding round marks a major milestone not just for H100 Group, but for the broader Swedish and Nordic Bitcoin ecosystem, signaling growing support for corporate Bitcoin strategies in the region.
Bitcoin at the Core of the Strategy
H100 Group confirmed that the capital raised will be used to acquire Bitcoin as part of its long-term treasury strategy. This approach aligns with a growing global trend of public companies allocating part of their corporate reserves into Bitcoin - bringing the model pioneered by U.S.-based Strategy (formerly MicroStrategy) to the Nordic region.
“This investment strengthens our balance sheet and accelerates our strategic vision of building the digital infrastructure for health providers, while Bitcoin becomes a long-term store of value at the core of that future,” said CEO Sander Andersen.
With Bitcoin positioned as both a financial hedge and a technological standard, H100’s dual-focus on healthtech innovation and Bitcoin treasury management makes it one of Sweden’s most forward-looking listed companies.
Details of the Financing Round
The convertible loan facility includes:
SEK 13.5 million from Adam Back
SEK 7.5 million from a group of Nordic investors: Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB, and Crafoord Capital Partners
Key terms include:
Zero interest on the loan
Maturity date: 15 June 2028
Conversion price: SEK 1.30 per share
Automatic conversion if share price trades >33% above the conversion price for 60 trading days
Potential dilution: approx. 12%, if fully converted
The structure provides flexibility for both the company and its investors, offering a path to equity conversion at favorable terms while avoiding the delays and costs associated with traditional rights issues.
A Vote of Confidence from Bitcoin’s Inner Circle
Adam Back’s involvement in the deal is significant. As co-founder and CEO of Blockstream and one of the earliest contributors to Bitcoin’s technical foundations, Back’s investment represents a strong vote of confidence in both H100’s business model and its Bitcoin strategy.
“Seeing someone of Adam’s stature leading this round affirms that H100 is playing on the global stage,” said Andersen. “This is a long-term alliance with investors who share our belief in Bitcoin’s potential to reshape financial infrastructure.”
A Simpler Way for Nordic Investors to Access Bitcoin
H100’s move also creates new opportunities for investors in Sweden and the wider Nordic region. By holding Bitcoin on its balance sheet and trading on a public exchange (NGM Nordic SME), H100 offers exposure to Bitcoin’s upside through a traditional stock investment—accessible via standard brokerage accounts such as Avanza, Nordnet, or Swissquote.
This model allows retail and institutional investors to bypass the complexities of self-custody, foreign exchanges, or tax reporting tied to direct Bitcoin ownership. Instead, they can gain Bitcoin-linked exposure in a fully regulated, transparent structure.
As such, H100 joins a growing movement of Bitcoin Treasury Companies in the Nordics - paving a new path for strategic adoption and investor access.
Broader Implications
This financing round sets a precedent that could encourage other Swedish and Nordic companies to explore Bitcoin-based treasury strategies - especially given the tightening regulation around direct crypto ownership and the increasing availability of compliant corporate structures under the EU’s Markets in Crypto-Assets (MiCA) framework.
“The real innovation here is not just financial,” noted an industry observer. “It’s about integrating Bitcoin into the architecture of serious, high-growth companies - and giving local investors a front-row seat.”
About H100 Group
H100 Group AB is a Stockholm-based health technology company dedicated to building digital infrastructure for health and longevity. Its platform integrates AI-powered automation and tools to support health and wellness providers. The company follows a growth strategy combining organic expansion and strategic acquisitions.
For more information, visit www.h100.group
NordicsBitcoin.com is your dedicated source for tracking Nordic companies adopting Bitcoin treasury strategies. Stay tuned for analysis, interviews, and updates from across Sweden, Norway, Denmark, and Finland.
