Motatos, the Swedish-based D2C sustainable e-commerce business who launched in the UK earlier this year, has today announced a raise of €38million at an attractive uptick valuation, through a directed new share issue to existing shareholders. The financing round has been led by SEB Private Equity, Motatos largest owner, and Exor Capital who have increased their investment substantially since the fund’s initial investment in the series C-funding round in November 2021. This brings total funds raised to over €130 million.
Karl Andersson, CEO and Founder, said: “Taking care of the resources let into production – for the climate’s and the consumer wallet’s sake is not only common sense, but is really very urgent. Ultimately, this injection of capital allows us to accelerate the sustainable shift in the food and retail sectors in major European markets.”
This funding will be used to accelerate growth in key markets Germany and the UK as well as aid the development of the business model and customer offer across all markets. Motatos currently operates in Sweden, Germany, the UK, Finland, and Denmark.
To lead the development going forward, Motatos founder and CEO Karl Andersson is accompanied by former COO Peter Beckius who since June has been appointed Co-CEO. Where Karl will continue to focus on external stakeholder relations, innovation and partnerships, Peter’s focus will be on leading and developing the business and organization globally.
Karl Andersson continues: “Peter and I have worked very closely together over the past year and drawn strength from our different profiles. We share many of the same values and we have a common view on how to develop Motatos going forward.”
Maria Bilkenroth, Investment Director SEB Private Equity, confirms the team’s decision to finance Motatos is closely aligned with the mission to aid sustainable development: “It is now a little over a year since our initial investment in Motatos and we are very pleased with the results that the team has been able to produce in that time. Motatos’ providing cost conscious consumers with sustainable choices that many can afford is something that is well aligned with our investment focus. Growth in the sustainable business sectors is vital for the circular shift to happen. We look forward to supporting the team as they continue to grow the business on the European markets.”
Many of Matsmart-Motatos’ current investors have also participated in the funding round alongside SEB Private Equity including Gullspång Re:food invest, Blume Equity and Exor Group. Law firm Setterwalls Advokatbyrå provided legal services and advice on the transaction.