Matsmart in Scandinavia AB (“Matsmart” or the “Company”), a European online food store and impact company, has successfully completed a SEK 350 million private placement consisting entirely of primary shares. The placement, which attracted strong interest, was upsized and led by SEB Private Equity and Gullspång Re:food Invest. The Company intends to use the proceeds from the placement to continue its international expansion, which accelerated with the launch in Germany in April 2020.
Matsmart is a European online food store and impact company. The Company contributes to a sustainable reform of the global food system with a business model that is completely in line with UN’s Sustainable Development Goal 12.3; to have halved the global per capital food waste by 2030.
As per today, Matsmart is on the Financial Times’ list of Europe’s fastest-growing companies and is present in four European countries: Sweden, Finland, Denmark and Germany. The Company operates under the name of Motatos internationally. At Matsmart, customers can buy food and consumer products that would otherwise be at risk of being thrown away due to, for example, surplus production, short-term expiration dates or seasonality. In 2019, Matsmart reported sales of SEK 371 million.
Carnegie acted as sole financial adviser in connection with the transaction.