Matsmart raised SEK 75M and is looking for international expansion

Sweden Investments 18 December 2017
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Matsmart, a Stockholm, Sweden-based ecommerce company announced closing in SEK 75M ($8.9M) in fresh equity funding.

The money comes from new and existing shareholders, including Norrsken Foundation and D-Ax, and will be used to fuel the estimated accelerated growth of the company.

MatSmart, founded in 2013 and led by CEO Karl Andersson, is a food online retailer which aggregates and sells all different types of surplus goods at an up to 90% discount, with delivery throughout Sweden from a central warehouse in Katrineholm. 

According to the company, in 2016, Matsmart saved 708 tonnes of food from being thrown away and recorded a total of about SEK 69.4M ($8.2M) in revenues for 2016. The company operates in Sweden, Norway and Finland.

Prior to this deal, MatSmart secured about $8M in outside capital, from investors including Northzone, Inbox Capital, Edastra or GP Bullhound. In the summer of 2017, the company announced also co-opting local angel investors Johan Kleberg, Jonas Nordlander and Filip Engelbert.