Setterwalls has advised Matsmart in connection with an investment round of SEK 182 million. Participants in the investment round were the German investment fund LeadX Capital Partners, financially supported by the German based METRO AG, who became a new shareholder, and existing shareholders such as D-Ax, Inbox Capital, Northzone and Norrskenet.
Matsmart’s business concept is to sell mislabelled or expired groceries at discount with home delivery services in Sweden and Finland. Matsmart was founded in 2014 by Karl Andersson, Erik Södergren and Ulf Skagerström. The net turnover of Matsmart for the financial year 2017 amounted to approx. SEK 160 million, corresponding to an increase of approx. 130 percent compared with the previous financial year.