Hemmy gets strategic investment from Elon

Sweden Investments 24 August 2018
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Hemmy, a Stockholm, Sweden-based online store providing appliances, household goods and home and garden products, announced getting strategic investment from Elon.

The deal was made for 25% of the company, and other financial details remain undisclosed.

Elon, led by CEO Stefan Lebrot and headquartered in Örebro, is Sweden's largest white goods chain with 350 stores throughout the country, with more than SEK 4 billion in yearly sales.

Hemmy was founded at the end of 2017 by Paul Fischbein, who invested SEK 1M ($120k). The company manages an ecommerce operation that sells appliances, household and garden tools estimating a turnover of SEK 50M ($5.5M) in 2018.