Matsmart sells surplus goods and occasional stock, that otherwise would have contributed to huge food waste, a growing problem in the western world today. In the US, over 40 percent of the food produced never gets consumed and Americans throw away $165 billion worth of food every year, roughly 20 pounds per person every month. That’s enough waste to fill 730 football stadiums annually.
Matsmart has grown rapidly since its inception in 2013 and expects sales of 20 to 30 million in 2015. In the last one and a half years, Matsmart has so far saved more than 500 tons of food from being thrown away. Instead it has been sold at up to 90% discount of retail prices, to conscious consumers all over Sweden.
The funds in this round will be used to accelerate the company’s expansion in Sweden and abroad, in a €200Bn European discount food market, one of the fastest growing segments of food retail today.
Robert Ahldin, Partner and Chief Investment Officer at GP Bullhound commented: “We are very proud to make this investment in Matsmart, a company that has demonstrated that today’s consumers not only shop with their wallet but also with their hearts.”
For any enquiry, please contact Robert Ahldin, Partner and Chief Investment Officer, at [email protected]
About GP Bullhound Sidecar
GP Bullhound Sidecar is the independent investment arm of GP Bullhound, with a co-investment strategy focusing on European Tech companies. GP Bullhound Sidecar is currently managing three funds which mainly include investments in category leading companies but also in early stage and unicorn companies. Sidecar has co-invested with Accel Partners, TCV, Scottish Equity Partners, Northzone, Creandum and many others in companies such as Spotify, Fjord, Klarna and Mathem. Thanks to GP Bullhound’s well-known and highly respected brand in the tech community, the firm’s local presence and its extensive global contact network, the Sidecar funds benefit from a massive deal flow and the ability to team up with first class investors to co-invest in the best companies, with the support ofan experienced, disciplined and expert team of bankers and board members. For more information, please visit www.gpbullhound.com/investments/