GP Bullhound successfully advises MatHem.se on its expansion capital round

MatHem.se, Sweden’s leading online grocery retailer, successfully closes SEK75m expansion capital round to fund continued growth.
The SEK75m investment round saw participation from both new and existing investors, including Karl-Johan Persson, CEO of H&M. GP Bullhound, the technology investment bank, has acted as the exclusive financial advisor to MatHem I Sverige AB (MatHem.se), Sweden’s leading online grocery store, on its expansion financing round.

“MatHem.se is in our opinion the best-run online grocer in the Nordics. We believe groceries represent a huge potential segment in eCommerce and I am delighted to have assisted Tomas Kull and his experienced management team in our second expansion round with the Company,” said Per Roman Managing Partner at GP Bullhound.

“When offering a wide assortment at competitive prices it is necessary to reach a certain volume in order to be profitable. We expect to reach profitability during 2014, and we currently have revenues of 250m SEK with a +100% annual growth. 20% of the Swedes want to shop food online, and with a total food market of 250 billion SEK, we believe there is a huge opportunity”, said Tomas Kull founder and CEO of MatHem.se, and adds “GP Bullhound knows all the larger international investors and keeps a good pace in the process, which is a great advantage.”

This represents the completion of GP Bullhound’s 13th transaction in 2013 and further highlights our commitment to supporting category leaders with great ideas and global potential. GP Bullhound´s Sidecar Fund was also an investor in MatHem.se

Enquiries

For enquiries contact: Cecilia Roman, cecilia.roman@gpbullhound.com www.gpbullhound.com