Swedish home delivery operator Budbee has announced it will be launching its service in the Netherlands following successful market expansions in Finland and Denmark in 2018.
To accelerate the expansion, the existing partners Kinnevik and the H&M Group have invested a total of Skr50m (US$5.4m), increasing Budbee’s valuation to close to Skr1bn (US$108m).
“We are very happy for the collaboration with Budbee that enables our customers to get their goods delivered to their home in a more convenient way. With our further investment in the company, we look forward to developing new services together that enable a better customer experience, both online and in store,” said Erik Karlsson, investment manager on CO:LAB, the H&M Group.
“Budbee is an ambitious company with an exciting expansion ahead, both in and outside the Nordics. The company has, since our investment last year in April, more than tripled its deliveries and developed its already strong customer base. We look forward to keep supporting the Budbee team in their journey,” commented Andreas Bernström, investment director, Kinnevik.
Fredrik Hamilton, CEO and founder of Budbee, added, “We are very happy that our existing owners keep believing in the company’s future and we look forward to our European expansion.”
