Matsmart secured $18M in a financing round led by LeadX Capital Partners.

Sweden Investments 08 October 2019
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Matsmart, a Stockholm, Sweden-based online food retailer, announced that it completed a SEK 182M ($18M) capital investment round.

The funding round was led by the German LeadX Capital Partners and was supported by the existing shareholders, including Ingka Group (IKEA), Northzone, D-Ax and the Norrsken Foundation.

LeadX Capital Partners is financially supported by Germany-based METRO AG, one of the world's largest wholesale and retail chains.

Matsmart, founded in 2014 by CEO Karl Andersson, Erik Södergren and Ulf Skagerström, is an online food retailer selling mis-labeled or outgoing goods at discounted prices with home delivery throughout Sweden and Finland. The company is yet to become profitable, at a 2018 turnover of SEK 277M ($28M).

Prior to this round, Matsmart raised more than $20M from outside investors.