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QGroup Invests in Specno

Staff writer
June 19, 2023, 11:31 p.m.
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Word count: 360

Sweden-based QGroup, a global technology investment group, has invested an undisclosed amount in Specno, an innovation agency. 

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Sweden-based QGroup, a global technology investment group, has invested an undisclosed amount in Specno, an innovation agency. 

With QGroup's backing, Specno will extend its footprint, leveraging its unique innovation framework and growth strategies to drive the European and African tech sectors forward.

"Specno’s expertise in building successful tech ventures is unparalleled, and their commitment to fostering innovation ecosystems aligns perfectly with our investment strategy," said Mikael Kretz, founder of QGroup.

"The collaboration allows us to gain rich insights into Africa’s burgeoning tech industry in addition to providing Swedish businesses with world-class development resources."

With the QGroup deal, Specno will be able to build more ventures for the African market while simultaneously allowing QGroup to offer venture building as a service to their European client base.

“This partnership significantly enhances our capacity to take on large-scale projects. Conversely, QGroup can leverage Specno’s expertise and insights to explore potential opportunities in Africa's growing tech market,” commented Daniel Novitzkas, Specno CEO and co-founder.

Specno shares that local context is key to building successful ventures.

“We are excited about the opportunity for growth the deal brings and will stay committed to employing and training local people in both economies. We plan to continue investing in our staff’s training and development,” added Novitzkas.

Further to the deal, QGroup has shown a strong interest in supporting Specno with its ambitious goal of expanding into 100 cities over the next five years and becoming the top agency in each city.

Specno said that this is all part of their founding mission to build a context-specific playbook of how to build a successful tech venture, which they plan to distribute to over one million entrepreneurs by 2030.

Specno chose QGroup due to its 10 years of experience in investing in and scaling consulting agencies across the globe. One of the key conditions to the deal was that Specno keeps its independence and DNA, continuing to foster its startup culture and its commitment to building a workplace that attracts ambitious young professionals.

“This opportunity not only allows us to stay true to our mission but gives us the resources and expertise to make it all possible,” said Novitzkas.

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