Cool Company

What Cool Company does

Cool Company Skandinavien AB is a Stockholm-based, privately held employer-of-record and self-employment platform founded in 2009 that enables freelancers, consultants, and contractors to invoice clients without establishing their own company. Operating across Sweden, Norway, Denmark, and Finland, the company has served more than 100,000 freelancers and 500+ business customers over its history. The platform functions as the legal employer of its users, handling tax withholding, VAT, social fees, bookkeeping (KPMG-audited), payroll disbursement within 24 hours of customer payment, and embedded insurance coverage (sickness, accident, liability, life) valued at 3,650 SEK per year. Differentiated product capabilities include ExpressPay for accelerated payouts, 12-currency invoicing, Swish QR-code payments, team invoicing, ROT/RUT Swedish household-deduction handling, and an enterprise-facing Cool Business portal with API integration.

The business is monetized primarily through a 5.98% transaction fee on invoiced amounts, with optional premium layers (ExpressPay at +2.59%, Swish at +9 SEK per invoice) and enterprise managed-services revenue from payroll outsourcing for companies with contractor workforces. Go-to-market combines self-serve PLG onboarding for individual freelancers with a direct enterprise field-sales motion and customer support across phone, chat, and email. Notable enterprise customers include H&M, Clas Fixare, Tingent, Gordon Delivery, and Vetrik. Strategic capital was raised from Verdane in 2017 and an undisclosed round in 2019, and the company acquired Firmify in 2018 to extend its contractor-management technology stack. Leadership comprises CEO Michael Sundquist, CFO Axel Joelsson Heurlin, Head of Marketing Matilda Backelle (on parental leave until January 2027), and Head of Product & Technology Peter Geere, with founder Jan Bergstrand as co-owner.

There is no evidence of AI/ML capability in the product surface or operating model. The technology stack is a traditional cloud-based SaaS platform for invoicing, payroll, and employer-of-record compliance, with deterministic tax and social-fee calculations and integrations to Swish, KPMG, and Intrum Justitia. The company does not disclose proprietary models, AI/ML hires, research output, or third-party AI dependencies, and its competitive positioning is grounded in regulatory expertise, scale, and operational reliability rather than AI differentiation.

Name

Cool Company

Legal name

Cool Company Skandinavien AB

Website

https://coolcompany.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Cool Company is a Stockholm-based employer-of-record platform, founded in 2009 and operating across Sweden, Norway, Denmark, and Finland, that enables freelancers and contractors to invoice clients and receive taxed salary within 24 hours, while also providing payroll outsourcing for enterprises with contractor workforces.

Ownership category

akta.pro rank

Product category

Freelance Payroll and Self-Employment Services

NAICS

Payroll Services (541214), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (5412)

SIC

Services-Employment Agencies (7361)

akta.pro primary industry

Employer of Record (EOR) & Global Payroll (FSAMAKAB)

akta.pro secondary industries

Global Payroll & Multi-Country Payroll Management (BPACAHAC), Contractor / Freelancer Payments (FSAMAKAC), Managed Payroll Services (Full-Service Payroll Outsourcing) (BPAAAHAA)

Keywords

• Freelance payroll services
• Self-employment invoicing
• Umbrella company services
• Contractor management platform
• Employer of record

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Transaction Fee - Base Service: 5.98% commission on invoiced amount (excluding VAT). Covers administration, tax handling, payroll, insurance, and customer support. No fixed costs or hidden fees. Payment only required when customers pay invoices.
2. ExpressPay Premium Service: Additional 2.59% fee on top of base 5.98%, totaling 8.57% when using ExpressPay service for faster salary payout within 24 hours of customer approval.
3. Swish Payment Option: 9 SEK additional fee for adding Swish QR code payment option to invoices for Swedish customers paying in SEK.
4. Enterprise Payroll Outsourcing: B2B service for companies to outsource payroll and employer responsibilities for contractors. Companies receive consolidated invoices and salary payments within 24 hours of payment.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Cool Company operates a self-employment and payroll outsourcing platform that enables freelancers, consultants, and contractors in Scandinavia to invoice clients without registering their own company, while acting as the employer of record for tax, payroll, insurance, and pension administration. For businesses, it provides an enterprise portal and managed payroll services to outsource contractor employment responsibilities.

Product overview

Cool Company is a workforce management platform offering self-employment solutions primarily in the Nordic market (Sweden, Norway, Denmark). The core product is 'Fakturera utan företag' (Invoice without a Company) - a self-employment platform where freelancers and contractors become employed by Cool Company, enabling them to invoice clients as private individuals without starting their own business. Cool Company handles all administrative responsibilities including tax withholding, VAT, payroll, insurance, and compliance. The platform operates on a 5.98% commission model with no fixed costs or hidden fees. For business customers, Cool Company offers the Cool Business enterprise portal for contractor management, payroll outsourcing services, and international payment capabilities. Add-on services include ExpressPay for faster salary disbursement, the Trygghetspaketet insurance package, ROT/RUT deduction handling, and optional pension contributions. The company also maintains CC Insikt, a content and research platform featuring the annual Freelance Report and freelancer stories.

Differentiator

Problem solved

Functional benefit

Products and services

• Invoice without a Company (Fakturera utan företag) Core self-employment service for individual freelancers, consultants, entrepreneurs, and hobbyists. Cool Company acts as the employer, handling invoicing, tax withholding, VAT, salary disbursement, bookkeeping, and pension contributions for users who want to invoice without registering their own company.
• Cool Business Enterprise Portal Dedicated B2B portal for companies that work with freelancers and contractors, allowing them to upload consultant lists, approve consolidated invoices, and manage payroll outsourcing through API or Excel integrations.
• ExpressPay Premium faster-payment add-on for self-employed users, providing salary disbursement within 24 hours of customer approval rather than after invoice payment, priced at an additional 2.59% on top of the base fee.
• Trygghetspaketet (Safety Package) Comprehensive insurance package included with the self-employment service, providing sickness, accident, liability, and life insurance coverage valued at 3,650 SEK per year for self-employed workers during assignments.
• Payroll Outsourcing (Löneoutsourcing) Complete payroll outsourcing service for businesses that work with contractors, handling salary disbursement, tax payments, social contributions, insurance, and employer responsibilities for the contractor workforce.
• International Payments (Internationella betalningar) B2B service enabling businesses to make international payments to freelancers, contractors, and creators outside Sweden, supporting multi-currency disbursement across the 12 supported currencies.
• Employer Responsibility (Arbetsgivaransvar) Full employer-of-record service for businesses engaging contractors, taking on payroll administration, tax handling, social fee payments, insurance coverage, and compliance management for the contractor workforce.
• ROT and RUT Tax Deduction Handling Service for Swedish tradespeople and household service providers to administer ROT (repair/construction) and RUT (cleaning/maintenance) household tax deductions for customers, managing documentation, customer information, and claims processing with the Swedish Tax Agency.

Quantifiable outcome

• 99.6% of all invoices sent through Cool Company are paid
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature6 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• DorunnerminorGTM or Marketing PartnerPartnership providing discount offers and benefits to Cool Company customers. Offers related to economy, health, IT support, travel, and education.
• BrainvilleminorGTM or Marketing PartnerPartnership providing educational and skill development discounts to Cool Company customers.
• FramgångsakademinminorGTM or Marketing PartnerPartnership providing business and career development offers to Cool Company freelancers.
• ZcoolyminorGTM or Marketing PartnerEducation partner providing learning opportunities and discounts for Cool Company customers.
• Tv4 PlayminorGTM or Marketing PartnerEntertainment partner providing streaming service discounts to Cool Company customers.
• ReadlyminorGTM or Marketing PartnerDigital magazine subscription partner offering reading benefits to Cool Company customers.
• StorytelminorGTM or Marketing PartnerAudiobook and e-book subscription partner for Cool Company customer benefits.
• BookBeatminorGTM or Marketing PartnerBook streaming partner providing reading benefits to Cool Company freelancers.
• Intrum JustitiacoreOthersDebt collection partner for handling unpaid invoices. Cool Company sends payment reminders 3 business days after due date and can escalate to collection if needed.
• KPMGcoreOthersExternal audit partner for bookkeeping and financial reporting services.
• Insurance PartnerscoreOthersProvides comprehensive insurance coverage including sickness, accident, liability, and life insurance for self-employed workers during assignments.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Papaya Global: Global workforce management platform offering EOR, payroll, and contractor management at scale. Comparable to Cool Company's enterprise offering but with much broader geographic and product reach, representing a multi-country competitive threat.
• Globalization Partners: Established global EOR platform with broader geographic coverage and enterprise customer base than Cool Company. Competes for the same Nordic enterprise customers seeking international contractor and payroll outsourcing solutions.

Direct peers

• Frilans Finans: Swedish 'egenanställningsföretag' providing the same self-employment model as Cool Company, allowing freelancers in Sweden to invoice without forming their own company. Closest direct Nordic competitor on the freelancer self-employment proposition.
• Deel: Global employer-of-record and contractor payments platform that, like Cool Company, enables businesses to hire and pay international contractors without setting up local entities. Direct overlap on the EOR/contractor payroll proposition that Cool Company offers in the Nordics.
• Remote: Global EOR and international payroll platform offering contractor management and employer-of-record services. Highly comparable to Cool Company's enterprise payroll outsourcing offering, with a much broader geographic footprint that creates competitive pressure on Nordic enterprise deals.

Emerging players

• Oyster HR: Global EOR platform focused on distributed companies hiring international talent. Competes for enterprise customers Cool Company targets with its Cool Business portal, particularly those with cross-border contractor workforces.
• Multiplier: EOR and global payroll platform targeting SMBs and contractors. Comparable contractor onboarding, payroll, and tax compliance proposition, with broader geographic reach than Cool Company's Nordic-only operations.
• Payoneer: Cross-border payments and freelancer-focused financial services platform. Comparable on freelancer payouts, multi-currency receiving accounts, and tax/invoicing tooling — directly overlapping with several of Cool Company's add-on products.
• Wise: Cross-border payments platform that increasingly serves freelancers and contractors receiving international payments. Adjacent overlap with Cool Company's international payments and multi-currency invoicing services, and could disintermediate parts of the freelancer payment value chain.

Regional players

• Bluegarden: Nordic HR and payroll outsourcing provider serving Swedish and Nordic employers. Comparable on the enterprise payroll outsourcing side of Cool Company's business and competes for the same mid-market employer customers in Scandinavia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/coolcompanyswe
• LinkedInlinkedin.com/company/cool-company-group
• Instagraminstagram.com/coolcompanygroup
• Xx.com/coolcompany

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cool Company