MatHem Receives SEK 0.9 Billion Investment from Kinnevik

mathemMatHem, a Swedish independent pure-play online grocery retailer, received a SEK 0.9bn (€86m) investment from Kinnevik AB (publ).

The deal, whose closing is conditional on customary regulatory approvals and is expected during the first quarter of 2019, is made of a combination of 0.4bn in primary capital and 0.5bn in secondary shares, which took Kinnevik’s ownership to 38%.

Led by Tomas Kull, Chief Executive Officer, MatHem is an independent pure-play online grocery retailer that can deliver to more than half of the Swedish households. The company exceeded one million deliveries and had a turnover of approximately SEK 1.5bn in 2018.

The company intends to use the proceeds to to continue to capture market shares and to deliver additional products and services on top of its own food assortment.



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