Syncro Group AB (publ): Syncro Groups subsidiary Collabs signs distribution agreement with Novtec for expansion into Chinese market

Syncro Group, a pioneer in SaaS solutions for influencer marketing, announce that its subsidiary Collabs have signed a distribution agreement with Novtec AB ("Novtec") to spearhead the sales and market penetration of the Collabs platform in China. The distribution agreements initial term is for three years, to establish Collabs as a leading influencer marketing tool in the Chinese market.

Key highlights and purpose of the distribution agreement includes amongst others:

  • Market Penetration: Novtec shall position Collabs as the premier influencer marketing solution in China.

  • Sales: Novtec will manage sales activities, adapting Collabs to meet Chinese market needs.

  • Strategic growth: This distribution agreement supports Collabs, and thereby Syncro Group's, global expansion strategy, tapping into one of the fastest-growing markets.

Social media in China, short overview:

  • Platforms such as for example Facebook, Instagram, YouTube and Vimeo are blocked in China. Instead, there are national counterpart solutions such as for example WeChat and Weibo.

  • By the end of March 2024, WeChat had more than 1.35 billion monthly active users, and Weibo had 588 million monthly active users, making China the world's biggest social media market1.

"We are excited to partner with Novtec who enables capability to bring Collabs to the Chinese market," said Ebbe Damm, CEO of Syncro Group.

Kin Tham of Novtec added, "This collaboration leverages our market expertise and Syncro's innovative technology to achieve significant growth in China."

For additional information, please contact:

Ebbe Damm, CEO Syncro Group

Phone:+46 705 46 46 00

Email:ebbe.damm@syncro.group

About Syncro Group

Syncro enables collaboration between people and brands through innovative tech. Syncro has offices in Sweden and Denmark, with headquarter in Stockholm. For more information, see www.syncro.group.

Syncro Groups Qualified Adviser at Spotlight Stock Market is Mangold Fondkommission AB.

1 Source: Statista.com