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Sweden’s Kinnevik invests €14.8 million in online grocer MatHem’s €108.7 million funding round
April 22nd, 2021.
Kinnevik is clearly going all-in on the red-hot online grocery delivery market. Just two weeks ago, they dropped at cool €220 million on Norway’s Kolonial (now Oda), and now how jumped into MatHem’s shopping basket (again) to the tune of €14.8 million in the grocer’s €108.7 million funding round.
Kinnevik is joined by existing investors AMF and Stena, and the funding round also included €69.2 million in debt facility financing provided by P Capital Partners.
”Kinnevik is proud to support the continued growth of MatHem as it expands its product range and gains market share. I am impressed by how Johan and his team has met the increased interest in having groceries delivered to your doorstep, and I am convinced that MatHem will continue to develop its customer offering and efficiency,” comments Kinnevik CEO Georgi Ganev.