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press release - 22 September 2020 10:00

EOVENDO leaves Lars Larsen Group

The founders of cashback site EOVENDO, Martin Østergaard and Nicolas Ibenforth, have taken over the entire ownership of the company with effect from 1 June

Lars Larsen Group has been the primary owner of the company EOVENDO for a number of years, which enables consumers to claim cash back on a large number of purchases.

On 1 June 2020, Lars Larsen Group stepped down as owner of EOVENDO and instead divested ownership to Martin Østergaard and Nicolas Ibenforth, the original founders of the company.

"In connection with our review of the strategy for Lars Larsen Group, we have also looked at EOVENDO and assessed that the company does not fit into our plans for the future. While EOVENDO still has plenty of potential, the opportunities for realising this are greater outside Lars Larsen Group," says Jesper Lund, CEO of Lars Larsen Group.

Much to build on
In connection with Martin Østergaard and Nicolas Ibenforth taking back full ownership of the company, equity has been re-established and Nicolas Ibenforth sees good opportunities for EOVENDO in the future.

"It's clear that no longer having Lars Larsen Group behind EOVENDO will bring changes. We've undergone a turnaround process, where we have stripped things right down to the bone and looked carefully at how EOVENDO should be run in the future. It's crucial here that we still have some good contracts that we can build on, and we see great opportunities for EOVENDO in the future," says Nicolas Ibenforth.

For additional comments, please contact CEO Nicolas Ibenforth at: pr@eovendo.com