AMF leads €52m series-C round for Budbee

AMF is investing €24m in the company, and becomes one of the company's three largest shareholders, alongside Kinnevik and Stena Sessan, which also took part in the latest round alongside H&M Co:Lab. 

The round brings Budbee's total funding to date to €92m and will be used for international expansion, as well as to invest in technology and processes that will further enhance the sustainability aspects, and in customer experience of its services.

According to the company, it saw an increase of 200% in the number of deliveries it coordinates every month.

Previous funding
In January 2017, Budbee raised €3m in seed funding from Sebastian Semiatkowski, Paul Fischbein and H&M CEO Karl-Johann Persson.

In April 2018, the startup raised €8m in series-A funding from Kinnevik. A year later, it raised €4.8m in extended series-A funding from H&M Co:Lab and Kinnevik.

In June last year, it raised €27m in a series-B round from Kinnevik, H&M Co:Lab and Club Network Investments.

Company
Founded in 2015 and based in Stockholm, Budbee is a Stockholm-based delivery startup providing last-mile delivery services in Sweden, the Netherlands, Denmark and Finland. It counts Asos, Zalando and H&M among its customers and has more than 200 employees.

People
Budbee – Fredrik Hamilton, Budbee (founder, CEO).
AMF – Anders Oscarsson (head of equity).
Stena Sessan – Fredrik Konopik (investment director).

Advisers
Company – Carnegie (financial due diligence); Nordea Bank (financial due diligence).

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• Topics
• Expansion
• Nordics
• Sweden
• Kinnevik
• Nordic venture