Charlotta Mantell and Mari Zetterqvist Blokhuis want to help riders improve their position in the saddle through their AI-powered app.Now, Breakit can reveal how the startup Rider’s Position is progressing, the company’s recent breakthrough, and why the founders are preparing to raise additional capital.
“We are generating revenue through Realgymnasiet’s use of the app in their education programs, but we need more capital to continue developing the app, scale sales, and expand beyond Sweden’s borders,” Charlotta Mantell tells Breakit. While some entrepreneurs meet their co-founders at university or at work, others meet in the stable. That was the case for Charlotta Mantell and Mari Zetterqvist Blokhuis, who founded Rider’s Position together.
“I used to take care of her beautiful dressage horse when I was young—that’s how we know each other,” Charlotta Mantell previously told Breakit.Since its founding in 2019, the duo has developed an AI-powered app designed to help riders improve their seat and rhythm by collecting data while they ride. The rider then receives feedback on how to improve their position, supporting both their own development in the saddle and the horse’s wellbeing.
When Breakit published its list of 24 promising horsetech companies two years ago including Rider’s Position Charlotta Mantell explained that sales had been slow during 2023, but that momentum really started to build in 2024.In 2023, the company’s revenue dropped to SEK 43,000, with a loss of SEK 140,000. This can be compared to 2022, when revenue reached SEK 631,000 and the company reported a loss of SEK 164,000. Now the results for last year are available.
A new direction
In 2025, net sales amounted to SEK 57,000, while operating losses were just under SEK 25,000. This compares with 2024, when net sales were almost SEK 49,000 and operating losses amounted to SEK 34,000.
“Financially, the company is moving in the right direction. The revenues are not large, but it is an improvement. The loss decreased, which is positive,” says Charlotta Mantell.
“We have worked very cost-effectively, which means things have taken a bit longer.”
However, the company now expects stronger growth.
Last autumn, Rider’s Position conducted a pilot project with Realgymnasiet, where trainers within the equine studies program tested the app. As a result, Rider’s Position will be implemented across all 23 Realgymnasiet schools starting in autumn 2026.
“For the company, this is our first major institutional agreement and an important validation that the product solves a real need within education and coaching,” says Charlotta Mantell.
“Over the past few years, we have explored both B2C and B2B approaches. Our experience clearly shows that the greatest value and willingness to pay exist among trainers, riding schools, and educational organizations. Therefore, our primary business model today is B2B SaaS, where the trainer becomes the central customer and distribution channel.”
She also notes, as stated in the company’s annual report, that shareholder and board member Harry Blokhuis, who was also the husband of co-founder Mari Zetterqvist Blokhuis—sadly passed away earlier this year. Shortly afterward, Mari stepped down as CEO, and Charlotta Mantell assumed the role.“It has been a very difficult period, but we are trying to focus on what we care most about horse welfare and on accelerating the business,” says Charlotta Mantell.
Raising additional capital
Over the years, Rider’s Position has received SEK 850,000 in funding from Almi and Vinnova. Last year, the company raised an additional SEK 500,000, which Breakit reported on at the time. The investment came from angel investors Katrin Frick and Anna Winblad von Walter, while the founders also participated in the round.
According to Charlotta Mantell, the capital was used for continued product development and intensified marketing efforts, which are now beginning to deliver results.
“Thanks to the capital raised through the share issue, we were able to develop an Android version of the app, giving us access to the entire market.
”However, the company is now preparing for another funding round.“At the beginning of 2026, Rider’s Position entered into a collaboration with SolidX Venture Studio, which supports the company with business development, growth strategy, fundraising, and international expansion,” she says, adding that the company aims to raise SEK 8.5 million.
“We are generating revenue through Realgymnasiet’s use of the app in their educational programs, but we need additional capital to continue product development, scale sales, and expand internationally. The biggest opportunity is probably not here in Sweden. We need to look toward the UK, where equestrian sport is larger, and then toward the United States, where there are an enormous number of riders.”
How is the fundraising process progressing so far?
“Fundraising takes time, especially in today’s market, but we are seeing strong interest and have several ongoing discussions with investors,” says Charlotta Mantell.
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