PantaPå announced securing $1 million from Verdane Capital, Orkla Ventures and Almi Invest.
PantaPå, a Stockholm, Sweden-based mobile solution developer for recycle packaging, announced the completion of a SEK 9.5M ($1M) capital investment round.
The funding was provided by a range of Swedish investors, including Orkla Ventures and Verdane Capital (through the Verdane Foundation), backed by financial contributions provided by the state agency Almi Invest.
PantaPå, founded in 2016 by Berfin Mert and CEO Suwar Mert, developer a mobile app via which users can scan barcodes of packaging materials at a recycling station and are rewarded directly with money and coupons. The app was released in August 2019 and has about 100,000 users in Sweden and the US. Customers include global companies such as Mondelez, Procter & Gamble, Unilever and Orkla with a variety of brands.