Majority stake in wellness marketplace Stebby was acquired by French company Up Group

The majority stake in Estonian wellness marketplace Stebby has been acquired by French payment solutions company Up Group. The previous majority owner was a Riga-based private equity fund Livonia Partners, which owned 50% of Stebby. The company's current management will continue working in the company with Up Group.

It's the exit for Livonia Partners, Erik Oja, Kristjan Novitski, and the management of Stebby, which got full control of the company in 2022. 

Founded in 2012 by Marti Soosaar, Stebby is a marketplace that offers various well-being services. The client can purchase the services by themselves and also use the compensation provided by their employer. The services include tickets to sports clubs and spas, rehabilitation services, massages, and health insurance.

Stebby works with over 1,5K companies, has 180K users, and over 2,2K wellness partners. Stebby has over 30 employees in offices in Tallinn, Tartu, Vilnius, and Riga. 

Livonia Partners is a Riga-based private equity investment firm with a focus on buyouts and growth capital investments in Baltic small to mid-sized companies. The founding partners of Livonia are Kristine Berzina and Mindaugas Utkevičius.