Mathem raises SEK 160M in fresh money, adds Norwegian Ferd on investor list.
Mathem, the Stockholm, Sweden-based online grocey store, announced raising SEK 160M ($18.2M) in a new equity round. The money comes from existing investors, including Verdane, Anders Holch Povlsen or Karl-Johan Persson as well as from a new one, Norwegian owned Ferd Ventures. Ferd has invested around SEK 100 million in MatHem, giving it a 6% stake.
Mathem. founded by Thomas and Caroline Hill in 2009, is one of the largest online food stores from Sweden. Operations are located in Stockholm, Gothenburg and Malmö and the company owns the entire supply chain from ordering and stock the refrigerators for delivery to the customer's door.
Mathem recorded revenues of about SEK 1bn ($110M) in 2016.
In the summer of 2015, Mathem also added a new investor, the Danish Anders Holch Povlsen - one of Denmark's most successful e-commerce investors, in an investment round totalling SEK 207M ($32.4M).
After this investment round, the Mathem shareholders structure is as follows:
Verdane Capital - 36%
Anders Holch Povlsen (through company) - 21%
Family Kull (through company) - 12%
Karl-Johan Persson (via company) - 10%
Ferd Ventures - 6%
Erik Mitteregger (through company) - 3%