Motatos announces a new share issue to existing shareholders raising €38m

Motatos, the Swedish-based D2C sustainable e-commerce business, has announced a raise of €38m, at an attractive uptick valuation, through a new share issue to existing shareholders. The financing round has been jointly 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.

– We are experiencing a very strong and stable growth and development of our business – and in this time of market turmoil our relevance only increases further. Taking care of the resources we let into production – for the climate’s and the consumer wallet’s sake is not only common sense, but 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, comments  Karl Andersson, CEO and founder.

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.

– 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, comments Karl Andersson.

Peter Beckius also comments:

– I look forward to continuing working alongside Karl improving and developing our business model and customer offer further. During the year we have had a continued strong development, most notably with continued high growth in Germany and a successful launch in the UK. With new financing in place we are in a great position to accelerate that growth, concludes Peter.

Maria Bilkenroth, Investment Director at 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.

Nikhil Srinivasan, Exor Capital’s Managing Partner also adds a comment on the firm’s decision to increase their investment:

– Exor Capital has a strong interest in sustainability and Motatos is an opportunity that encompasses sustainability coupled with the current economic environment. We are delighted to work with the founders and continue to support their vision to grow the company.

Many of Matsmart-Motatos’ current investors have also participated in the funding round alongside SEB Private Equity and Exor Capital including Gullspång Re:food Invest and Blume Equity. Law firm Setterwalls Advokatbyrå provided legal services and advice on the transaction.

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