Leading last-mile delivery provider Gordon enters a partnership with eEquity

eEquity, a leading Nordic digital growth investor, has completed the seventh deal in its fourth fund through an investment in Gordon. Gordon is a fast-growing last-mile delivery provider, specializing in refrigerated deliveries enabled by a cutting-edge technology platform. Through this partnership, Gordon will continue to accelerate their ambitious expansion plans.

Gordon was founded in 2015 (launched in 2017) by Ali Ghoce in Stockholm, Sweden. Gordon offers industry-leading solutions within last-mile logistics, focusing on refrigerated deliveries. The company is at the forefront of digital transformation, with a proprietary AI platform ensuring real-time route optimization, automation of complex workflows and a seamless consumer experience. The company serves several noteworthy clients, including HelloFresh, Axfood, Greenfood, Simple Feast and Coop.

Since inception, Gordon has displayed an impressive track-record. Thanks to its first-mover advantage, driven organization and differentiated offering, the company has quickly grown to a turnover of SEK 133 million in 2020 (a 250% year-over-year increase) and is on track to grow even faster this year, based on current run-rate. The company is currently active in Sweden and Denmark, with plans for further expansion in the near future. The Gordon team is highly skilled and ambitious, with experience from leading technology companies and food conglomerates.

The investment from eEquity will be used to realize Gordon’s growth plans through international expansion and further operational development. Among other initiatives, Gordon aims to strengthen its organization, invest in IT, expand its geographical reach and attract new business partners. In addition, Gordon will capitalize on current market megatrends for smart deliveries and the relatively immature, fast-growing online segment within food and groceries.

Magnus Wiberg, Managing Partner at eEquity comments:

“We have followed every player in the “last-mile” logistics space in Sweden and Gordon clearly stood out, achieving growth of over 300% on a year-on-year basis, with maintained profitability. In this fast-growing industry, many competitors purely pursue topline growth, without having established a fully functional business model – meaning many of them run at a significant loss. When eEquity looks for investments, with a focus on the ecosystem around e-commerce, we want companies to have found a business model that will maintain profitability, even under the significant growth ramp-up that follows from our investment. We are also highly impressed by Gordon’s team and technological solution, which enables a leading user experience and exceptionally high Trustpilot rating of 4.8/5.0.”

Ali Ghoce, CEO & Co-founder of Gordon comments:

“It feels amazing to have eEquity join us on our exciting journey. We see this as a receipt on the fact that there is strong trust in our business concept and that we have potential to keep on growing. We look forward to strengthening our market position further through continued strategic initiatives and establishments in more European countries.”

About eEquity

Founded in 2010, eEquity is a Private Equity firm specializing on growth investments in digitally enabled business models and e-commerce. Portfolio companies include PriceRunner, Footway, NA-KD, iDeal of Sweden, Aim’n, Preglife and Twistshake. eEquity has led investments of over SEK 3 billion in 30 companies across four funds. eEquity typically invests in companies with sales between EUR 5-20 million, with an ambition to build them to over EUR 100 million in sales under profitability. The investors behind eEquity are leading family offices, European Investment Fund (“EIF”) and financial institutions. Visit www.eequity.se for more information.

About Gordon

Gordon, founded in 2015 by Ali Ghoce, is a leading last-mile logistics provider specializing in refrigerated deliveries. The company is based in Stockholm, Sweden, with a turnover of SEK 133 million in 2020. Building on its attractive offering and efficient tech platform, Gordon has achieved outstanding growth and customer satisfaction since inception. Visit www.gordondelivery.com for more information.

For more information, please contact

Ali Ghoce, CEO & Co-founder, Gordon

+46 70 590 79 66, ag@gordondelivery.com

Magnus Wiberg, Managing Partner, eEquity

+46 73 537 50 00, magnus@eequity.se

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