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Matsmart-Motatos tackling food waste with €40M Investment led by Circularity Capital

   

LATEST NEWS & INSIGHTS

20 Nov 2023

Matsmart-Motatos tackling food waste with €40M Investment led by Circularity Capital

Matsmart-Motatos tackling food waste with €40M Investment led by Circularity Capital
Matsmart tackles the issue of waste in the food supply chain by procuring and reselling overstock goods that traditional retailers can't buy.

Today Circularity Capital led a €40 million growth capital round in Swedish company Matsmart-Motatos, a D2C e-commerce retailer of overstock dry foods and consumer products, with additional support from existing shareholders.

 

Matsmart tackles the issue of waste in the food supply chain by procuring and reselling overstock goods that traditional retailers can't buy.

 

Since its founding in 2014, Matsmart-Motatos has recirculated over 60,000 tonnes of food and consumer products and is active in five European countries.

 

Matsmart has raised $142.2 million in funding, and its total revenue in 2022 amounted to €80 million, with the company's current revenue run rate of €100 million.

 

The latest capital will help grow the business in the German and Nordic regions, including the warehouse automation successfully utilised in Norway.

 

Matsmart-Motatos CEO Peter Beckius commented:

 

"Our coming five-year plan includes significant growth in the Nordic and DACH regions, and our most important investment ahead will be the automation of the German warehouse operations.

 

Consumers are becoming increasingly conscious of the environmental impact of their daily lives, and many of us also see the need to spend very cautiously.

 

We offer our customers sustainable shopping that is fun, affordable, and accessible to all, and naturally, this resonates well with many people."

 

Andrew Shannon, Partner at Circularity Capital and board member of Matsmart-Motatos concluded:

 

"Matsmart-Motatos has already built a market-leading position in a fast-growing industry addressing a major inefficiency in the global food supply chain.

 

The company has a robust platform ready for further scale and a dedicated team that has proven its ability to execute.

 

We look forward to working closely with the team in executing this exciting phase of its strategic growth plan centred around continued growth in Germany and other European markets."

 

Many of Matsmart-Motatos' current investors have participated in the growth capital round alongside Circularity Capital and another new investor, SevenVentures, the investment arm of ProSiebenSat.1 and part of the Group's Commerce and Ventures segment.

 

In partnership with existing Matsmart-Motatos investor Northzone, founder Karl Andersson discussed the company's origins, impact, and future prospects.

 

Lead image: Karl Andersson and Peter Beckius (left to right) of Matsmart-Motatos. Photo: Uncredited.

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