Matsmart, a Stockholm, Sweden based e-commerce company for grocery products, received SEK30m in venture capital funding.
Backers included Northzone, GP Bullhound, and existing investor Edastra.
The company intends to use the funds to continue to grow in Sweden and internationally.
Founded in 2013 by CEO Karl Andersson, Matsmart is an ecommerce company that sells surplus grocery stock that would otherwise go to waste to consumers across Sweden. This gives suppliers an alternative channel where they can sell their surplus stock (e.g. goods with short expiration date) and consumers a channel to buy needed products at a lore price.
The company has a turnover of nearly SEK30m this year.