MatHem.se, Sweden’s leading online grocery retailer, successfully closes SEK75m expansion capital round to fund continued growth.
The SEK75m investment round saw participation from both new and existing investors, including Karl-Johan Persson, CEO of H&M. GP Bullhound, the technology investment bank, has acted as the exclusive financial advisor to MatHem I Sverige AB (MatHem.se), Sweden’s leading online grocery store, on its expansion financing round.
“MatHem.se is in our opinion the best-run online grocer in the Nordics. We believe groceries represent a huge potential segment in eCommerce and I am delighted to have assisted Tomas Kull and his experienced management team in our second expansion round with the Company,” said Per Roman Managing Partner at GP Bullhound.
“When offering a wide assortment at competitive prices it is necessary to reach a certain volume in order to be profitable. We expect to reach profitability during 2014, and we currently have revenues of 250m SEK with a +100% annual growth. 20% of the Swedes want to shop food online, and with a total food market of 250 billion SEK, we believe there is a huge opportunity”, said Tomas Kull founder and CEO of MatHem.se, and adds “GP Bullhound knows all the larger international investors and keeps a good pace in the process, which is a great advantage.”
This represents the completion of GP Bullhound’s 13th transaction in 2013 and further highlights our commitment to supporting category leaders with great ideas and global potential. GP Bullhound´s Sidecar Fund was also an investor in MatHem.se
For enquiries contact: Cecilia Roman, [email protected] www.gpbullhound.com