Our Valued Partner Canute Has Been Acquired

Great news for the Nordic startup eco-system!

We are thrilled to share that our valued partner in Denmark, Canute, has been acquired by Thursday Consulting.

Canute and Goodwille have had a strong collaboration for the last couple of years, enabling Nordic startups to enter the UK market successfully. We know the entry barriers of entering the UK market well, a challenge that Canute often identifies among the Nordic startups they work with.

The acquisition of Canute holds significant importance for the Nordic startup ecosystem, as Canute will gain access to additional resources that will empower Nordic startups for international growth. In fact, Canute is already taking strides in this direction with their two market entry programs taking place here in London November 21st to 23rd and again 30th of January – to 1st of February.

Read more about the acquisition and their upcoming market entry program here.

 

The story

Canute was founded in 2017 by entrepreneur Mia Grosen while she was working in London. She noticed the lack of support for Danish startups aiming to scale to the UK. Existing advice was mostly tailored towards larger, established companies. Since then, Canute has rapidly grown, assisting over 200 startups in expanding to the UK as well as Sweden, Netherland, Germany, and the US.

Over the past year, Mia has prepared Canute for a sale, engaging in discussions with potential buyers. Thursday Consulting emerged as the best choice. In just two years, Thursday has grown significantly, employing over 30 consultants, with startup and fintech advisory being a core part of their vision from the beginning.

“Canute aligns perfectly with our vision. We already provide various services to the startup segment, such as fundraising, public funding, and divestitures. With Canute, we can assist even more companies in growing, including on the international stage,” explains Robert Bo Jensen, CEO of Thursday Consulting.

After the acquisition, Canute will retain its name, and Mia Grosen will become a partner at Thursday Consulting, overseeing the operation and further development of Canute.

 

Founder experience makes the difference

Canute has held over 20 Market Entry Programs in five different markets, where startups are introduced to the local market, potential clients, partners, investors, and successful Nordic founders. The interaction between the experienced speaking founders on the program as well as the participating startup founders holds a special value:

“When one founder meets another, there’s instant respect. Respect for the one who succeeded, but also for the one who’s trying,” Mia Grosen states.

She believes that there’s a shortage of advisors who have experienced building businesses themselves, especially in the startup environment. Such experience brings valuable insights and ensures that advice is heeded.

“All founders know what it’s like to build a startup. It’s like running a marathon several times a week. It’s immensely enjoyable and challenging, and as an advisor, you need to understand that journey to provide the best guidance,” Mia Grosen notes.

This understanding of the founder’s journey played a crucial role in choosing Thursday as the buyer. The company is undergoing exponential growth in revenue and personnel, with experienced startup founders already part of the team.

“We’ve always sought profiles outside the conventional consulting box. We believe that diversity in all aspects makes us strong, ultimately yielding better results for our clients, not only startups but also our major financial clients, for whom we conduct significant transformation processes focusing on the intersection of business and IT,” says Robert Bo Jensen.

 

Upcoming Market Entry Program in the UK

One of the first market entry programs in the new collaboration will take place in London from 21-23 November, where they will bring a group of 10-15 ambitious Nordic startups all looking to expand to the UK market.

We are looking very much forward to meeting the group here in the UK and sharing our expertise on how to succeed as a Nordic startup in the UK.

If you are interested in joining their Market Entry program reach out to Lasse on lasse@canute.io or +45 60201636

FACT BOXES

About Thursday Consulting:

Thursday Consulting is a management consulting firm, founded in the summer of 2021, and counts over 30 consultants today. The clients are primarily within the financial sector, where Thursday enhances clients’ businesses with a special focus on transformation in the intersection of business and IT. The clients are among Denmark’s largest financial companies in the fields of banking, insurance, and pension.

About Canute:

Canute was established in 2017 by Mia Grosen during her work at the Ministry of Foreign Affairs in the UK. Two years later, she founded it as an independent company establishing strong corporate partnership. Canute specializes in supporting Nordic startups when expanding their business to new markets such as the UK, Germany, Sweden, the Netherlands and the US.