case / 28 Nov 2023
Setterwalls has advised Matsmart in connection with a growth capital round of EUR 40 million, corresponding to approximately SEK 460 million
Setterwalls has advised Matsmart in connection with a growth capital round of EUR 40 million, corresponding to approximately SEK 460 million. The equity financing was led by circular specialist investor Circularity Capital with additional support from existing shareholders and one more new investor, SevenVentures. Circularity Capital is a specialist private equity firm investing in European growth stage businesses in the circular economy. SevenVentures is the investment arm of ProSiebenSat.1 and will support Matsmart’s growth in the German speaking region. The capital raised will primarily be used to grow the business in the German and Nordic regions.
Matsmart-Motatos is a European food e-commerce and impact company. The company contributes to a sustainable reform of the global food system with a business model that aligns with the global sustainability goal 12.3: that the world’s food waste should be halved by the year 2030. Today, Matsmart-Motatos is on the Financial Times list of Europe’s fastest growing companies and is established in five European markets. At Matsmart-Motatos, consumers can buy food and consumer products that would otherwise have been at risk of being thrown away, due to, for example, excess production, short dates or seasonal variations.
Matsmart-Motatos’s total revenue in 2022 amounted to SEK 889 million. The company is supported by many leading investors including Circularity Capital, SEB Private Equity, Northzone, Edastra, LeadX Capital, Exor Capital, Gullspång Re:food Invest, Blume Equity, Norrsken VC and Seven Ventures.