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Wednesday, March 29, 2023

Instabox became one of Swedish unicorns

Swedish shipping service provider Instabox raised 190 million dollars in a growth equity round led by Oslo-based investment firm Verdane with the participation of existing owners including Creades, EQT Ventures, Tham Special Investment AB, Nineyards, Tacito, and M2 Asset Management, and a number of new investors. The company’s name now appears on the Swedish unicorn list. The recent capital injection will provide more space to invest in sustainable solutions in the  best possible way. This will also help the company expand across Europe.

Instabox closed $190 million growth equity round led by Verdane – became a Swedish Unicorn

The Swedish tech company Instabox is on a mission to revolutionize the world of e-commerce shipping through more environmentally sustainable, faster, and more efficient deliveries. Instabox was recently named Europe’s third fastest-growing tech company by the Financial Times in its FT1000 2022 ranking. 

Highlights of the recent investment round:

• The growth equity round is led by Verdane, the European specialist growth equity investor, and also included existing owners like Creades and EQT Ventures.

• Instabox reaches a post-money valuation of $1 billion – becoming a Swedish Unicorn

• Instabox will use the funding to continue investing in sustainable solutions, optimize its best-in-class technology, and increase its European footprint

Instabox has challenged traditional shipping services and revolutionized how online shoppers can receive their e-commerce parcels. By placing smart automated parcel lockers at convenient locations, customers can choose when, where and by whom a parcel is picked up – all without standing in line or waiting at home all day for your parcel. The combination of faster (often same-day) and more sustainable (completely fossil-free) deliveries has quickly made Instabox a favorite among many shoppers.

In the $190 million growth equity round, Verdane will roll its stake in Norwegian home delivery company Porterbuddy, recently acquired by Instabox, as well as invest new capital in Instabox. The round is also backed by existing owners including Creades, EQT Ventures, Tham Special Investment AB, Nineyards, Tacito, and M2 Asset Management, and a number of new investors.

Instabox, Alex Priftis“I’m delighted with the trust that has been shown us by our existing and new investors. The global parcels market continues to grow every year, and Instabox’s lightning-quick, hassle-free, and completely fossil fuel-free shipping set us apart from traditional shipping companies. The new funding will help us build on that and further improve our service, making it even more sustainable and customer-focused”, says Alexis Priftis, CEO and Co-Founder of Instabox.

Instabox is growing at a very rapid pace and was recently ranked third among the fastest-growing tech companies in Europe by the Financial Times, with a compound annual growth rate of 300 percent. The company offers both smart locker and home deliveries in Sweden, Norway, Denmark, the Netherlands, and recently made its entry into the German market. In total, Instabox delivers more than 3 million parcels monthly across its markets. Over the last twelve months, the company has also acquired the market leaders in same-day home deliveries in both Norway (Porterbuddy) and the Netherlands (Red je Pakketje – now Instabox).

Instabox has pioneered the industry regarding environmental sustainability. As a completely fossil-free shipping company, it stands to benefit from an increased focus on sustainable options from both merchants and online shoppers. In Sweden, the online beauty retailer Lyko recently decided to remove non-fossil-free options from their checkout altogether, and the trend to prioritize sustainable alternatives is expected to continue.

“With a focus on sustainability, customer flexibility, and our advanced tech stack, we have found the winning combination of best-in-class locker deliveries and home deliveries. We really look forward to continuing on our mission to revolutionize the world of shipping,” says Alexis Priftis.

Christian Jebsen, Partner at Verdane and a new member of the Instabox board, comments:

“The Verdane team has followed Instabox for a long time and is pleased to partner with Instabox’s pioneering team on the journey to transform last-mile deliveries.

Instabox, Verdane, Christian JebsenAs one of the most active digital consumer investors in Northwestern Europe, Verdane is well placed to support Instabox’s geographical expansion, drawing on our significant experience scaling sustainable consumption and digital consumer businesses across the Benelux, DACH, and Nordic regions. We look forward to working closely with the Instabox team to create a hassle- and fossil fuel-free future for the European consumer.”

Verdane is a specialist growth equity investment firm that partners with tech-enabled and sustainable European businesses to help them reach the next stage of international growth.

Click here to read more funding news.

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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