eEquity rekryterar Johan Symmons som ny partner

eEquity, ett ledande private equity bolag specialiserat på investeringar inom e-handel och digital tillväxt, fortsätter att bygga ut sitt team med Johan Symmons som ny partner. Johan Symmons kommer från Inter IKEA där han arbetat med investeringar globalt. Dessförinnan har han tidigare varit på bland annat Swedbank Corporate Finance.

eEquity är en ledande sektorfond för digital tillväxt som äger den största koncentrerade portföljen av e-handelsbolag i Norden bestående av 17 bolag, inklusive marknadsledande återförsäljare av externa varumärken inom olika branscher såsom Footway (skor), Kidsbrandstore (fashion for kids) och Caliroots (street fashion). I eEquity III ingår många varumärkesbolag som arbetar med influencer marketing globalt såsom NA-KD (global fashion brand), iDeal of Sweden (fashion tech) och Swiss Clinic (hudvårdsprodukter). eEquity reser för närvarande kapital till sin fjärde fond (eEquity IV) som hittills har dragit in drygt 600 miljoner kronor med målsättningen att nå 1,5 miljarder kronor.

Patrik Hedelin, Partner på eEquity, kommenterar:

”Vi är väldigt glada att Johan Symmons har börjat på eEquity. Johan är någon som vi har känt och arbetat ihop med de senast 8 åren, både som medinvesterare i bolag och som fondinvesterare. Att Johan ansluter som partner är ett steg i att bygga ut eEquity i samband med att vi lanserat vår nya fond och för att bättre kunna möta de investeringsmöjligheter vi ser i marknaden. Han kompletterar oss väl med sin mångåriga private equity-bakgrund som tillför transaktionsexpertis och brett kunnande om många branscher, som utöver e-handel inkluderar bland annat mjukvarubolag, detaljhandel samt bank och försäkring.”

Johan Symmons, ny Partner på eEquity, kommenterar:

”Jag har arbetat nära eEquity de senaste 8 åren och sett hur de har utvecklats från en framgångsrik nischaktör inom e-handel till en ledande investerare inom digital tillväxt. Jag tror starkt på eEquity’s strategi av aktivt ägande med hög värdeskapning underbyggt av den underliggande tillväxten i branschen. Det ska bli oerhört roligt att arbetat nära och supportera de starka entreprenörer som eEquity har i sina portföljbolag och hjälpa dem realisera sina visioner.”

Om eEquity
Grundat 2010 med stöd av internationella institutionella investerare, är eEquity idag det ledande private equity bolaget inom e-handel och digital tillväxt i Norden. Portföljbolagen inkluderar bolag som Footway, NA-KD, iDeal of Sweden, Swiss Clinic, Caliroots och Outdoorexperten. Största investeraren i eEquity III är European Investment Fund. eEquity grundades av Patrik Hedelin och Magnus Wiberg som en fortsättning på deras arbete inom e-handel och digitala tjänster sedan 1999. eEquity driver idag fyra fonder på totalt 2 miljarder kronor och 17 portföljbolag.

För ytterligare information vänligen kontakta:
Patrik Hedelin
patrik@eequity.se
+46 70 545 2889

eEquity invests SEK 45 million in TWISTSHAKE to fuel continued rapid global expansion

eEquity, the leading Nordic investor in rapidly growing global e-commerce companies, invests in TWISTSHAKE, the baby product retail brand of the future.  

The baby brand Twistshake, founded in 2014 by Vienar Roaks, has in a short period of time disrupted the baby feeding market through its innovative and colorful feeding products for children aged 0-4 years. The company sells its products in over 70 countries and has since its inception grown at a substantial pace to become a leading player in the market. eEquity, a leading investor in the e-commerce space, invests in Twistshake to provide capital for global growth acceleration. The global baby product market is valued at c.SEK 100 billion and is estimated to display healthy growth going forward.

eEquity’s investment will primarily be used for a broadening of Twistshake’s product offering and inventory, as well as to enhance the customer experience both online and offline. Twistshake currently employs c.20 people and will with the investment be able to strengthen the organisation to build a solid platform for continued global growth. Twistshake’s revenue today is c.SEK 50 million and the company is displaying profitable growth of c.100% year on year.

”We are very happy to bring in eEquity as an investor and to become part of the family of eEquity portfolio companies including iDeal of Sweden, SwissClinic och NA-KD. We searched for an investor with deep knowledge and understanding of the industry and who specifically had previous experience working with brands which combines own online sales with offline distribution. eEquity has a stellar track record of building brands with a clear online strategy coupled with a global foootprint and knows what it takes to develop rapidly growing companies, which is something we deeply value. Togehter we will disrupt the industry and become the leading global baby product company” says Camillo Eriksson CEO and co-founder Twistshake

”We were very impressed by what the company had managed to do in such a short period of time and with limited resources at hand. To be able to become an important player on the market in just 4 years, with 75% of revenues outside of Sweden is a remarkable achievment. The company has unique products which stands out from competitors and are hihgly suitable for a global roll-out, which we with our experience and knowledge will continue to develop. We are now very happy to finally roll up our sleeves and togehter build yet another Swedish export success.” says Felix Erhardt, Partner at eEquity

For further information please contact:

Felix Erhardt, Partner

eEquity AB
Tel: +46 725 101 625
E-mail: felix.erhardt@eequity.se

or

Camillo Eriksson, CEO and co-founder
TWISTSHAKE
Tel: +46 76 176 01 40

E-mail camillo.eriksson@twistshake.com

About eEquity

eEquity is a leading Private Equity firm that invests in Nordic internet and e-commerce companies. The E-commerce companies includes names such as WhiteAway, Footway, Swap.com, RoyalDesign, Caliroots, Kidsbrandstore and Eleven. eEquity has invested in the online sector since 2010 and has around SEK 1.2 billion under management, in three funds, with a total of 15 portfolio companies.  eEquity invests primarily in entrepreneur-led growth companies with potential to become market leaders. The investors behind eEquity are significant European family offices and financial institutions. eEquity is led by Patrik Hedelin and Magnus Wiberg who are both experienced internet entrepreneurs with experience from boo.com and Pricerunner.

 About Twistshake

Twistshake is a leading brand within baby products 0-4 years. Twistshake’s underlying business concept is to provide innovative and fashion forward baby products, primarily within feeding. The company was founded in 2014 by Vienar Roaks, is headquartered in Västerås and has in a short period of time grown its revenues to c.SEK 50 million and to sell its products in more than 75 countries.

Swedish E-Commerce Pioneer Makes a Big Digital Bet

Swedish E-Commerce Pioneer Makes a Big Digital Bet

A Swedish private-equity firm co-founded by e-commerce pioneer Patrik Hedelin plans to more than double its capital with a new fund, according to people familiar with the process.

eEquity aims to raise 1.5 billion kronor ($183 million) for its fourth fund, said the people, who declined to be identified as the information is not yet public. The Stockholm-based firm plans to close the capital raising by the summer, they said. Representatives for eEquity declined to comment on the plans.

The firm targets companies with business models focused on e-commerce. It mainly looks at the Nordic region and currently has 17 investments. eEquity’s three existing funds manage about 1.4 billion kronor together, with the latest having an internal rate of return of 39 percent at the end of 2017.

Partner and co-founder Hedelin says investors have yet to fully grasp the sheer magnitude of changes that online shopping will bring to the retail industry.

Britons Scrimp on Kitchens, Tuxedos as U.K. Retail Woes Spread

In Sweden, “some 60 billion kronor in sales have moved online in the past 10 years, and if growth continues at the same pace, another 180 billion kronor will shift from offline in the coming 10 years,” Hedelin said in an interview. “If you don’t have a digital strategy, it will be hard to survive.”

Hedelin built a reputation as a pioneer in e-commerce after advising online book store Bokus.com in the 1990s. He also co-founded the fashion retailer Boo.com, which went bust when the dotcom bubble burst at the turn of the century.

eEquity targets companies with between 50 million kronor and 200 million kronor in revenue, with a goal of making somewhere between 3.5 and 5 times its original investment. It steers clear of startups with a long way to profitability.

“We don’t like to rely on being lucky,” Hedelin said.

To boost sales and make its targets more profitable, eEquity tends to add products, geographic markets and introduce own brands. It also uses so-called social media influencers for marketing purposes.

“That means we can build the companies with higher growth and keep them more scalable, while still being profitable,” Hedelin said.

Shifting Online
The value of online retail sales in Sweden is growing by about 15 percent a year

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18 January

eEquity invests SEK 15 million in Lavendla – to continue the digitalisation of the funeral market

The online funeral agency Lavendla is leading the digitalisation of the Swedish death care market. eEquity together with Bonnier Ventures are now investing in total SEK 23 million to enable further growth and geographical expansion.

The company, growing by 170% with great customer reviews, was founded in 2014 by Jakob Nordström. Lavendla is currently serving the Swedish market, with main focus on making the very best experience for each and every customer. The death care market in Sweden is one of the least digitalised verticals but Lavendla has shown that it is both easy and convenient to order a funeral online, as well as it increases the transparency for the customer.

eEquity together with Bonnier Ventures are now investing to support the company in its further growth both in Sweden and internationally.

CEO and founder Jakob Nordström comments:

“It’s inspiring that Bonnier Ventures and eEquity believe in us. “We have a strong team and have had a good year with many new customers who have chosen our combination of digital services and personal approach. Bonnier offers a broad media reach and knowledge, while eEquity provides important experience in e-commerce. Now we have a great opportunity to continue to earn our customers’ trust, and expand in Sweden as well as internationally.”

Jessica Mattsson, Investment manager at eEquity comments:

“I am very impressed by Lavendla, they have shown that they can both grow fast and keep a very high service level, a tricky combination for most companies but particularly in this market where nothing can go wrong. I believe the death care market will have a great benefit of increased transparency and openness, and Lavendla is perfectly positioned to lead this transformation. Further, the investment is in the sweet spot for us, given the low level of digitalisation of the market, a very strong team and we will support the company in every way we can given our experience from other e-commerce and online businesses.”           

For more information please contact:
Jessica Mattsson
Investment Manager eEquity
+46 70 796 14 01
jessica@eequity.se

Jakob Nordström
CEO and founder Lavendla
jakob@lavendla.se

About eEquity
eEquity is a leading Private Equity firm that invests in Nordic internet and e-commerce companies. The E-commerce companies includes names such as WhiteAway, Footway, Swap.com, RoyalDesign, Caliroots, Kidsbrandstore and iDeal of Sweden. eEquity has invested in the online sector since 2010 and has around SEK 1.3 billion under management, in three funds, with a total of 17 portfolio companies.  eEquity invests primarily in entrepreneur-led growth companies with potential to become market leaders. The investors behind eEquity are significant European family offices and financial institutions. eEquity is led by Patrik Hedelin and Magnus Wiberg who are both experienced internet entrepreneurs with experience from boo.com and Pricerunner.

About Lavendla
Lavendla is an online funeral agency currently serving the Swedish market. The company was founded in 2014 by current CEO Jakob Nordström and is based in Solna just outside Stockholm. Lavendla provides services under the brands Lavendla and Wilja.

3 July 2017

eEquity invest in Karma, a food rescue app devoted to minimize the food waste in grocery stores and restaurants – targeting European expansion

eEquity, a leading investor in e-commerce and online companies in the Nordics, invest in Karma, the app devoted to help grocery stores, restaurants and cafes minimize their food waste.

Karma’s underlying business plan is to provide an outlet for unsold food from restaurants, cafes and grocery stores an thereby decrease food waste. Consumers purchase the food at a discount directly through the Karma app. Since the launch in November 2016, Karma has established itself in more than 20 cities and has over 100,000 registered users who to date has rescued 17 tonnes of food. Further, Karma has entered into partnerships with the leading Scandinavian hotel groups Scandic Hotels and Nordic Choice, as well as with the Swedish leading restaurant wholesaler Martin & Servera and several ICA grocery stores.

eEquity’s investment will support Karma’s upcoming European expansion. The target is to develop Karma into a market leader within its niche through best-in-class usability, quality and customer satisfaction. The investment is made together with e.Ventures, an international investment company with previous investments including Farfetch, Sonos and the Swedish company Natural Cycles.

”We are very happy with eEquity and e.Venture’s investment in Karma. eEquity’s years of experience within e-commerce and their knowledge on how to build strong, global online brands will provide us with valuable insights which will help us to reach the next level with the company. We have known the eEquity team for quite some time and are impressed with their work in other companies such as Whiteaway, Swiss Clinic and Footway. We are very much looking forward to start working together” says Hjalmar Ståhlberg Nordegren, CEO and co-funder of Karma.

Karma now target a roll-out of the app across several geographies. The number of customers and users has grow substantially and all parties are highly positive to Karma’s user-friendly and digital solution to decrease food-waste, which is a major environmental issue. Grocery stores, restaurants and cafes have all welcomed Karma’s solution and praised the ease-of-use and efficiency of the app, with goods being sold less than 24 hours after posting them in the app.

Felix Erhardt, partner eEquity says - ”We see a substantial potential in Karma; 1/3 of all food produced globally is thrown away which has a devastating impact on the environment. If we can use new technology in a user-friendly way in order to minimize the waste, it will have a significantly positive effect on our planet. Our previous experience of working with companies trying to alter customer behaviour, e.g. e-commerce, shows that it is definitely possible, and with proper execution can happen very quickly. Verticals such as books, contact lenses, white goods and clothes have all been highly exposed to digital change and now time has come for food waste to get digital. We will continue to support Karma with our competence and experience from previous investments and we hope to build a global market leader in this multi-billion-dollar market.”.

Karma is available for download in both App Store for iPhone and Google Play for Android.

For more information please contact:
Felix Erhardt
eEquity AB
Tel: +46 725 101 625
E-mail: felix.erhardt@eequity.se

Hjalmar Ståhlberg Nordegren
Karmalicious AB
Tel: +46 72 202 02 30
E-mail press@karma.life

About eEquity
eEquity is a leading Private Equity firm investing in Nordic internet and e-commerce companies. The e-commerce companies includes brands such as WhiteAway, Footway, Swap.com, RoyalDesign, Caliroots, Kidsbrandstore and Eleven. eEquity has invested in the online sector since 2010 and has around SEK 1.2 billion under management, in three funds, with a total of 16 portfolio companies. eEquity invests primarily in entrepreneur-led growth companies with potential to become market leaders. The investors behind eEquity are significant European family offices and financial institutions. eEquity is led by Patrik Hedelin and Magnus Wiberg who are both experienced internet entrepreneurs with experience from boo.com and Pricerunner.

About Karma
Karma is a leading online food waste company. The company was founded in 2015 by Hjalmar Ståhlberg Nordegren, Ludvig Berling, Elsa Bernadotte och Mattis Larsson and is headquartered in Stockholm. Karma provides an app-based solution targeted towards minimizing food waste among grocery stores, restaurants and cafes and has during its short time since inception managed to attract more than 100,000 users in over 20 cities across Sweden which have rescued a total of 17 tonnes of food.

22 April 2017

eEquity invests SEK 21 million in iDeal of Sweden – the new issue will finance continued global expansion

The fashion tech company, iDeal of Sweden, was founded in 2013 by Joachim Lindström and Filip Ummer and is already selling in +30 countries and is experiencing very fast growth. eEquity, leading internet retailing investor in the Nordic countries, has now invested to enable iDeal of Sweden to accelerate its global rollout.

CEO Joachim Lindström comments: We are very pleased to become a part of the eEquity family of successful entrepreneurs which we think will bring significant experience to the company in many areas including the online marketing and global roll-out. eEquity also have a number of other companies such as NA-KD that we look forward to exchange insights with. I am also pleased that the representative on the board from eEquity has a strong entrepreneurial e-commerce background.”

The capital injection will primarily be used to improve the customer experience, offer a broader inventory, increased marketing and global roll-out. Today, the company employs 18 people, and with the investment, the company will look to further strengthen the full organisation. The head office will continue to be based in Norrköping. Joachim Lindström and Filip Ummer will continue to be the largest shareholders. 

Patrik Hedelin, Partner at eEquity comments: We are very impressed by the founders of iDeal of Sweden and the brand awareness they have built with their target audience in a very short space of time. We look forward to including iDeal of Sweden in our family of successful entrepreneurs where all the internet retailing companies can share experiences and expertise in order to accelerate growth and profitability.”

For more information please contact:

Patrik Hedelin
eEquity
+46 70 545 2889
patrik.hedelin@eequity.se

Joachim Lindström
iDeal of Sweden
+46 72 321 4444
joachim@idealofsweden.com

About eEquity
eEquity is a lower midmarket growth sector fund for online businesses. There is a focus on internet retailing with companies such as NA-KD, WhiteAway, Footway, Swap.com, RoyalDesign, Caliroots, Kidsbrandstore and Swiss Clinic. eEquity invests normally in companies with a turnover between EUR 5-20 million with an ambition to build them to in excess of EUR +100 million turnover with profitability. The portfolio companies have been growing by on average 60% yearly during the holding time. eEquity raised its third fund, eEquity III, of SEK 750 million (EUR 80 million) in September 2015 where iDeal constitutes the seventh investment. eEquity has invested in the online sector since 2010 and has around SEK 1.2 billion under management, in three funds, with a total of 15 portfolio companies.  eEquity invests primarily in entrepreneur-led growth companies with potential to become market leaders. The investors behind eEquity are significant European family offices and financial institutions. eEquity is led by Patrik Hedelin and Magnus Wiberg who are both experienced internet entrepreneurs with experience from boo.com and Pricerunner.

3 januari 2017

eEquity invests in NA-KD – new issue of SEK 140 million for continued global expansion

The Swedish e-commerce company was founded in April 2015, and NA-KD.com launched in December of the same year. The company, which is e-commerce entrepreneur Jarno Vanhatapio’s third start-up, is growing fast. Now, the private equity firms Northzone and eEquity have come on board as investors, providing capital and experience to secure future global growth

CEO Jarno Vanhatapio comments:
In our first year of operation, we’ve already had a lot of inbound interest from venture capital firms in the Nordic countries, Europe and the USA. This is as a result of our fast global traction, which has been the engine to our growth. For us, it’s important that our investors share our global view, and have a capacity that matches our ambitions over the coming years. In Northzone and eEquity, we have found two investors that are rated highly internationally. Besides capital, they will support the board with relevant knowledge around the process of internationalisation, with their strong track-records of investments in companies like Spotify, Bloglovin’ and WhiteAway. I am especially happy that both their representatives on our Board have a strong entrepreneurial e-commerce backgrounds.

The capital injection will primarily be used to improve the customer experience, offer a broader inventory, and marketing. Today, the company employs 90 people, and with the investment, the company will look to further strengthen all departments. The head office will continue to be based in Gothenburg, but in Q1 2017, a smaller office will open in Stockholm. The company has already planned for the opening of a central depot in the Netherlands in Q1, which will serve customers in Europe and the rest of the world with fast and environmentally friendly deliveries. The complementary semi-automatic depot will have an initial capacity of 10 000 fulfilled orders per day. The turnover yearly run rate is currently SEK 220 million. Jarno Vanhatapio as the entrepreneur and CEO will remain the largest shareholder.

Patrik Hedelin, Partner at eEquity comments:
We are impressed by the brand awareness NA-KD has built with their target audience in a very short space of time, and the role that social media has played in achieving this. Few e-commerce companies are in a better position to roll out globally as fast as NA-KD, with strong support from their own collection and social media strategy. We value the experience that Jarno and several other members of the team have gained from building up Nelly to a significant company. We believe that NA-KD has a strong potential to become a global digital fashion house for generations Y and Z, where we will see a combination of global roll-out, fast growth, strong margins, and in due course good profitability.

NA-KD´s chairman and third largest owner, Magnus Emilson comments:
Our main focus for 2017 and beyond will be on NA-KD as a brand and store, as this part of the business generates the majority of our revenue, showing strong growth and good margins. With Northzone and eEquity on board, together with our business angels, we are well equipped for our next phase of international expansion. Our focus from day one has been to build a leading global fashion player. With
the new capital injection, we have the resources to build the company with a long-term view, without losing focus on growth, which is a part of our DNA.

eEquity has specialised in investing growth capital in fast growing Internet companies with an emphasis on Internet retailing. eEquity has previously invested in WhiteAway, whitegoods online, where eEquity contributed to build the company from DKK 150 million to 1 022 million during 3.5 years and generated a multiple of 4.5x of invested capital. eEquity has also invested in other leading Internet retailing companies such as Footway, RoyalDesign, Caliroots, Swap.com, Kidsbrandstore and Eleven. eEquity invests normally in companies with a turnover between EUR 5-20 million with an ambition to build them to in excess of EUR +100 million turnover with profitability. The portfolio companies have been growing by on average 40 % yearly during the holding time of eEquity. eEquity has created on average 1.1 new jobs per million that has been invested. eEquity raised its third fund, eEquity III, of SEK 750 million (EUR 80 million) in September 2015 where NA-KD constitutes the sixth investment.

For further questions:
eEquity Partner Patrik Hedelin
+46 70 545 2889
patrik.hedelin@eequity.se

NA-KD CEO Jarno Vanhatapio
+46 76 899 1800
jarno@na-kd.com

About eEquity

eEquity is a leading Private Equity firm that invests in Nordic internet and e-commerce companies. The E-commerce companies includes names such as WhiteAway, Footway, Swap.com, RoyalDesign, Caliroots, Kidsbrandstore and Eleven. eEquity has invested in the online sector since 2010 and has around SEK 1.2 billion under management, in three funds, with a total of 14 portfolio companies. eEquity invests primarily in entrepreneur-led growth companies with potential to become market leaders. The investors behind eEquity are significant European family offices and financial institutions. eEquity is led by Patrik Hedelin and Magnus Wiberg who are both experienced internet entrepreneurs with experience from boo.com and Pricerunner.

About NA-KD

Nakdcom One World AB is Jarno Vanhatapio’s third e-commerce company, having founded Nelly.com (2003) and Zoozoo.com (2013). NA-KD was founded in April 2015 and operates in the global market for fast fashion, primarily online, but also through pop up shops. NA-KD.com as an online store launched in December 2015 and has in a short space of time established itself as a global fashion player with annual revenues of 220 MSEK (22 MEUR). The website has had 15 million visitors in 2016. The brand is one of the fastest growing in social media, and has since the start earned over 750 000 followers from 150 countries. Most followers are on Instagram, under the account @nakdfashion. NA-KD.com has under its first 12 months of operation, delivered customer orders to 140 countries and employs 90 people. The
majority of their sales are from NA-KD.com and their own brands, such as NA-KD Trend and NA-KD Boho, which are designed in-house. Alongside Jarno, the company is backed by 13 business angels and IT entrepreneurs, including NA-KD’s Chairman Magnus Emilson (Visit Group), Mikael Söderlindh (Happysocks), Jonas Mårtensson (Mojang), Roy Forslund (Infotech), Svante Elfving (Brummer & Partners), Lena Apler (Collector Bank) and others.

23 December 2016

eEquity invests in Refunder – market leader for social- and cashback shopping in Sweden

eEquity, a leading investor in Nordic Internet and Internet retailing companies, is today announcing that eEquity III leads an investment round of SEK 37 million in the Swedish company Refunder Scandinavia AB which is the largest social- and cashback shopping site in Sweden. Refunder will now make significant investments in marketing to increase the member database to over 600,000 members that get money back when they shop online.

eEquity invests SEK 30 million in Refunder together with SEK 7 million from existing shareholders. Refunder has since it started 2013 grown by 200% yearly with over 90% of the users recommending Refunder to a friend.

Cashback shopping is an established sector in more mature online markets like the US and UK with almost 10% of the total e-commerce going through similar sites like Refunder. The most well-known US player is Ebates recently sold to Japanese Rakuten for one billion USD and the most well-known UK player is Quidco with over 5 million members. Refunder is also developing a tool for social shopping where social influencers can get rewarded for promoting certain products or e-commerce sites.

Fredrik Ohlsson, CEO & Co-Founder Refunder comments:
“After discussions with different interest groups we found an immediate match with eEquity and their team. They have deep insights in what´s driving the e-commerce forward and has a well reputed network of contacts in Sweden as well as internationally which will be of great benefit for Refunder”, says Fredrik Ohlsson.

Magnus Wiberg Partner eEquity comments:
“When I Co-Founded Pricerunner in 1999, price comparison sites soon became the leading source of sales and traffic to e-commerce sites globally. Now when online pricing is more transparent and online prices for e-commerce sites is very similar, consumers have been looking for other ways of getting incentives and discounts when they shop. Cashback shopping sites generate almost 10% of total sales in e-commerce in the UK and our ambition with Refunder is to be the market leader in the Nordics once this market grow to similar levels.”

Refunder was founded by Fredrik Ohlsson and Victor Dahlborg who both started their carrers within the MTG and Kinnevik Group followed by several startups. Fredrik founded Zoom Vision, later sold to Nasdaq and Victor had a leading position at PriceRunner and is the founder of the certificate Trygg E-handel.

For further questions:
eEquity Partner Magnus Wiberg
+46 735 375 000
magnus@eequity.se

About eEquity

eEquity is the leading private equity company investing growth capital in e-commerce and online companies in the Nordic countries. eEquity has invested in the online sector since inception in 2010 and is managing three funds with USD 135 million under management with currently 12 companies in the portfolio. eEquity invests in entrepreneurial led growth companies with the potential to become market leaders. eEquity is backed by European leading family offices and financial institutions. eEquity is managed by Patrik Hedelin and Magnus Wiberg that are experienced internet entrepreneurs themselves with experience from boo.com and Pricerunner.

About Refunder

Refunder.se is the largest cashback site in Sweden, that gives online shoppers money back on all of their online purchases at participating stores. Today, there are over 1100 stores on Refunder and the number is growing rapidly. For online retailers, Refunder is an effective sales channel where they pay a commission only on each actual purchase. For Refunder members, getting money back on all online purchases is a strong incentive, regardless of whether there is a sale or other offers at an online store. Refunder is based in Stockholm, and also runs its business in Poland. The company was founded in spring 2013.

12 December 2016

eEquity invests in Swap.com – market leader for pre-owned clothing in the US

eEquity, a leading investor in Nordic Internet and Internet retailing companies, is today announcing that eEquity III leads an investment round of EUR 19 million in the Finnish company Swap.com Services Oy which is the largest online consignment store in the US. Swap.com will now make significant investments in marketing to build the brand awareness, strengthen the organisation and develop the warehouse, fulfilment and IT systems further.

eEquity invests EUR 16 million in Swap.com together with one of its investors, the remaining amount EUR 3 million is invested by existing shareholders. Swap.com has since it started 2013 grown by 180% yearly and was recently recognised by Internet Retailer as one of the Hot 100 innovative e-tailers in the industry.

Pre-owned clothing is a fast growing segment where the addressable market is estimated at USD 108 billion. Today, 85% of all pre-owned clothing is thrown away, closer to 12 billion tonnes yearly according to United States Environmental Protection Agency (EPA).

Dr. Juha Koponen, CEO & Co-Founder Swap.com comments:
“As an industry, we are only scratching the surface. There is a staggering amount of unused, pre-owned merchandise with an estimated value of more than one hundred billion dollars annually. And while there is a large demand for second-hand items, the merchandise has not been moving mostly because there has not been a practical nor convenient way to purchase these items online. With more than 30% of Americans shopping thrift and consignment stores each year, we have an incredible opportunity to make an impact. With the support of eEquity as specialists on Internet retailing, I look forward to really scale the business under profitability and enhance our position as market leader. ”

Patrik Hedelin Partner eEquity comments:
“We are very proud to invest in Swap.com and its outstanding management team that we believe have a unique opportunity to become a category killer in the US. We further believe strongly in the strength of the value proposition of swap contributing to increasing the quality of life for the average American combined with being environmental friendly. 30% of the US population is living on minimum wage and 70 % are working pay check to pay check and on the same time they throw away 30 kg of clothing every year. We are intrigued by the opportunity to do something good for society and to apply our knowledge and experience from 10 other internet retailing companies in Europe to together with a very impressive management team build Swap.com as a market leader in the US.”

Swap.com was founded by Juha Koponen and Jussi Koskinen. Other members of the management team include Kelly Norris, Chief Operating Officer, with experience from Zappos and Amazon and Rich Lesparance, Chief Marketing Officer, with experience from Walgreens.com and Grubhub.com.

eEquity has specialised in investing growth capital to fast growing Internet companies. eEquity has previously invested in WhiteAway, whitegoods online, and took the company from DKK 150 million to 1 022 million in 3.5 years, and made 4.5x in multiple of invested capital. eEquity has also invested in other leading online retailers such as Footway, RoyalDesign, Caliroots, Kidsbrandstore and Eleven. eEquity normally invests in companies with EUR 5-20 million in sales with the ambition to build them to EUR +100 million in sales during profitability. eEquity raised its third fund of SEK 710 million (EUR 75 million) in September 2015 and Swap.com is its fourth investment. eEquity invests EUR 19 million in Swap together with one its investors and 3 million from existing investors.

eEquity is also lead investor in Vaadin with part of the management team based in San José, CA with US representing the 60% of the business opportunity. Vaadin is behind the popular open source web application development tools and framework used by around 40% of the Fortune 100 companies and over 150 000 developers globally.

Swap.com is the first Internet retailing investment that eEquity undertakes directed at the US market.

For further questions:
eEquity Partner Patrik Hedelin
+46 70 545 2889
patrik.hedelin@eequity.se

Swap.com CEO Juha Koponen
+1 630 750 7434
juha@swap.com

About eEquity

eEquity is the leading private equity company investing growth capital in e-commerce and online companies in the Nordic countries. eEquity has invested in the online sector since inception in 2010 and is managing three funds with USD 135 million with currently 12 companies in the portfolio. eEquity invests in entrepreneurial led growth companies with the potential to become market leaders. eEquity is backed by European leading family offices and financial institutions. eEquity is managed by Patrik Hedelin and Magnus Wiberg that are experienced internet entrepreneurs themselves with experience from boo.com and Pricerunner.

About Swap.com

Swap.com, recently recognized by Internet Retailer as one of the Hot 100 innovative e-tailers in the industry, is the largest online consignment shop with more than 1.5 million unique items. The company strives to redefine consignment services by making the process of buying and selling pre-owned goods more convenient, safe and profitable. Preventing waste by saving pre-owned clothes and accessories from ending up in landfills, shoppers can feel good about the purchases they make on Swap.com. Offering clothes, accessories, toys and games for babies, children, women and men, Swap.com is a one-stop shop the whole family can enjoy. Swap.com is based in Chicago and Bolingbrook, Illinois. The service was launched in 2012.

26 September 2016

eEquity Invests in Swiss Clinic, the Future’s Beauty Brand Online – Aiming towards Product Broadening and Expansion in Europe.

eEquity, a leading investor in e-commerce and online companies in Scandinavia, invests in Swiss Clinic, the future brand within beauty and skincare.

Swiss Clinic is a leading Swedish online brand within skincare and beauty treatments with development and production in Switzerland. The company, founded in 2011 by Sebastian Gordon and Fredrik Kristensson, currently operates in six countries becoming an established brand by way of its high paced growth and profitability . The company primarily sells directly to customers online, but also through selected retailers. Swiss Clinic has a vision to develop high technological products with visible effects and long-lasting results. The company will now invest even more in growth by launching multiple new products, including a new exclusive skincare line that will be launched in time for Christmas, as well as expanding into several European countries.

eEquity’s investment of 20 million SEK, making eEquity a large minority shareholder, will support the company in the upcoming expansion. The main focus will be on building Swiss Clinic towards a market leader within its niche as a result of its unique products, high quality and satisfied customers.

“We are very proud and delighted with our products and the fact that we have so many satisfied and recurring customers, the entire company has a large focus on quality and customer satisfaction. We have an innovative and creative approach towards the development of new products and being able to communicate directly to our customers through our platform gives us further knowledge regarding their needs which helps us in our development. We always use the best from science and design and we are always keeping pace with the latest trends, but we never compromise on quality or safety. We see many great advantages with eEquity as an owner, in part as they add considerable competence on how to build a brand and in part through their experience to expand companies in different countries. We now seek to increase the growth rate and broaden our product portfolio in order to make our customers even more satisfied and to further expand into Europe and the rest of the world,’’ says Sebastian Gordon, CEO and co-founder of Swiss Clinic.

“We see a great deal of potential in Swiss Clinic; the company has an exciting product portfolio which combined with a unique marketing strategy and distribution provides a close relationship to the end-customers, something that the rest of the industry is missing. The fact that the company has grown quickly since its start under profitability is of course also a positive aspect. We will be supporting the company with our competence in building a brand online, overall e-commerce knowledge as well as help to lift the company to a billion SEK company in the long run”, says Felix Erhardt, Partner at eEquity.

For further information, please contact:
Felix Erhardt
eEquity AB
Tel: +46 725 101 625
E-post: felix.erhardt@eequity.se
Sebastian Gordon
Swiss Clinic AB
Tel: +46 708 309 900
E-post sebastian@swissclinc.se

About eEquity
eEquity is a leading private equity firm for investments within e-commerce and online companies in Scandinavia, both regarding physical products and services. Since 2010, eEquity has invested in the online sector and is today part-owner in 11 companies in Scandinavia. eEquity primarily invests in entrepreneurial high-growth companies with the potential of becoming market leaders. eEquity manages capital for European institutional investors.

About Swiss Clinic
Swiss Clinic is a leading online player within skincare and cosmetics. The company was founded in 2011 by Sebastian Gordon and Fredrik Kristensson, and is located in Stockholm. The Company has during its five years grown organically, and has today a turnover of around 40 MSEK, and has always been profitable. Swiss Clinic’s vision is to deliver high technological beauty products and treatments online.