Verve Acquires Jun Group

Verve Acquires Jun Group, a Mobile First Digital Advertising Firm, Resulting in Combined, Pro Forma, €447m Revenues and €151m Adj. EBITDA, Reduced Leverage of 2.4x, Updated Mid-Term Financial Targets

The leading advertising platform in emerging channels

Verve primarily operates in North America but is registered as a Societas Europaea in Sweden (registration number 517100-0143). Its shares are listed on the Nasdaq First North Premier Growth Market in Stockholm and the Scale segment of the Frankfurt Stock Exchange. The company has three secured bonds listed on Nasdaq Stockholm and the Frankfurt Stock Exchange Open Market. Verve's certified advisor on the Nasdaq First North Premier Growth Market is FNCA Sweden AB.

This platform matches global advertiser demand with publisher ad-supply, enhancing results through first-party data from its own content. Aligned with our mission, “Let’s Make Media Better,” the company focuses on enabling better outcomes for advertisers, agencies, and publishers with responsible advertising solutions, while focusing on emerging media channels.

Software Clients >100k USD
Ad Impressions yearly
Connected Devices
Locations Worldwide

News and Publications


Verve Group SE: Invitation to Verve Group’s Capital Markets Day 2024

Stockholm, 04 July 2024: Verve Group SE (("Verve" or the "Company", ISIN: SE0018538068; ticker: VER / M8G) is pleased to invite investors, analysts, and the media to its Capital Markets Day (“CMD”) on Thursday, August 29, 2024 at 10:00 am CEST.


Verve Appoints Alex Stil as Chief Commercial Officer to Lead the Strategic Expansion of its Demand-Side Business

Verve Group SE ("Verve" or the "Company", ISIN: SE0018538068; ticker: VER / M8G) is pleased to announce the appointment of Alex Stil as its new Chief Commercial Officer who will lead the expansion of the demand side business. Alex brings extensive experience in digital media, brand management and agency ecosystems, positioning him as a pivotal addition to Verve's leadership team.


Verve successfully completes a directed issue of 27,108,434 new shares raising proceeds of approximately SEK 450 million

The board of directors of Verve Group SE (Scale Segment Frankfurt Stock Exchange: VER), (Nasdaq First North Premier Growth Market: VER) (“Verve” or the “Company”) has, in accordance with the announcement made in a press release on June 18, 2024, successfully completed the book-building and resolved on a directed share issue of 27,108,434 new ordinary A shares, based on the authorisation granted by the annual general meeting held on June 13, 2024 (the “Directed Share Issue”). The subscription price in the Directed Share Issue is SEK 16.60 per share and has been determined through an accelerated book-building procedure led by Pareto Securities AB and Swedbank AB (publ) (jointly referred to as "Managers"). The Directed Share Issue was oversubscribed. The investors in the Directed Share Issue consist of a number of Swedish and international institutional investors, including the Company’s two largest shareholders Bodhivas GmbH, owned by Remco Westermann (CEO and Board Member) and funds managed by Oaktree Capital Management, L.P. (“Oaktree”), as well as a highly reputable Swedish multi-family office. Through the Directed Share Issue, Verve will receive gross proceeds amounting to approximately SEK 450 million. 


Verve announces intention to carry out a directed share issue

The board of directors of Verve Group SE (Scale Segment Frankfurt Stock Exchange: VER), (Nasdaq First North Premier Growth Market: VER) (“Verve” or the “Company”) hereby announces its intention to carry out an issue of up to approximately 27 million new ordinary A shares (approximately 17 percent of outstanding share capital) directed to institutional investors through an accelerated book-building procedure pursuant to the authorisation granted by the annual general meeting held on June 13, 2024 (the “Directed Share Issue”). The Directed Share Issue is intended to be carried out in connection with the acquisition of Jun Group (the “Acquisition”), announced by the Company earlier today, to maintain the Company’s desired capital structure with a mid-term pro forma Net Leverage ratio of 1.5-2.5x. Verve has engaged Pareto Securities AB and Swedbank AB (publ) (jointly referred to as the "Managers") to explore the conditions for carrying out the Directed Share Issue.

Our mission

Verve’s "Let’s make media better" mission focuses on enabling better outcomes with responsible advertising solutions in emerging channels.

Better Outcomes

We strive to generate better outcomes Verve creates a more efficient marketplace for advertisers, agencies and publishers by reducing intermediaries and enhancing transparency, making every ad dollar go further. Utilizing AI and ML, we leverage proprietary first-party data, innovative contextual solutions like ATOM and Moments.AI, and enhanced third-party data to deliver campaigns with superior results.

Responsible Media

Verve's commitment to responsible Media includes prioritizing consumer privacy, ad quality/safety and sustainability. We prioritize a privacy-by-design approach in building our technology, while also focusing on key initiatives that brands and consumers care about, such as sustainability, carbon offsetting and DE&I initiatives. The company ensures brand safety by collaborating with trusted partners to guard against fraudulent traffic and MFA pages. Verve’s dedication to quality is reinforced through robust internal processes, substantial AI investments, and a strong emphasis on transparency and measurement.

Emerging channels

Our focus on emerging channels: Verve focuses on high-growth media segments such as mobile Apps and mobile web, Connected TV (CTV), and Digital Out of Home (DOOH), while also keeping an eye on channels like audio and retail media. Verve has rapidly risen to become a leader in the Mobile In-App advertising space, where a high and further increasing part of consumer time is spent. 


2012 - 2017

Our roots as a games company

Verve's journey began in 2012, when Remco Westermann (CEO) acquired 100% of the shares in the German games company gamigo AG. At the time, gamigo AG was in financial distress, had around 100 employees and annual revenues of roughly 10 million euros. From 2012 to 2017, gamigo AG's focus was on achieving critical mass for long-term success. In 2013 and 2014, gamigo was restructured and focused on reducing costs, discontinuing risky new games development and introducing an M&A model, resulting in 30 million registered users. In 2015, the company made various acquisitions, including Looki Publishing GmbH. A key success factor for games companies is user acquisition and the monetization of content via advertising. As the company was not satisfied with the external providers in either area, gamigo made its first acquisition in the media sector in 2016. The aim was to support the games sector in-house in the areas of user acquisition and monetization.

2018 - 2023

Transformation into a leading digital media company

Drawing from our extensive experience in user acquisition and monetization as a games company, we began expanding our media business around 2018. No longer just supporting our games, this new focus on programmatic advertising became a second pillar alongside our games business. This led to the formation of MGI - Media and Games Invest, which has been listed on the German Stock Exchange since 2018 and on the Nasdaq First North Growth Market in Stockholm since 2020. Since then, our media business (which we operated under the Verve brand) has grown significantly faster than our games business, with a sharp acceleration in organic growth. As a result, we have increasingly shifted our operational focus to the media business, which accounts for more than 80% of our revenue of over EUR 300 million in 2023 and is the main driver of our strong organic growth.


Focus on our Mission Let’s Make Media Better

Today, we have completed our transformation into a leading media company. The 2024 Annual General Meeting decided to change the name to Verve as a sign of our strategic focus now and in the future. Our mission is Let's Make Media Better. Our goal is enabling better outcomes with responsible media focusing on emerging channels. Today, Verve has over 700 employees worldwide, is profitable and growing organically at a substantial double-digit rate. 


Verve Group C-level

Remco Westermann


Read more

Paul Echt


Read more

Jens Knauber


Read more

Sameer Sondhi

CRO, also CEO Verve Adtech

Read more