Swedish logistics tech company Instabox snags €36 million in financing, with valuation at €100 million

instabox tech.eu

Swedish logistics tech company Instabox has closed a €36 million financing round, boosting the business’ valuation to €100 million. Swedish investor Creades and London-based credit specialist CORDET participated in the round.

Instabox handles logistics for e-commerce retailers, offering same-day delivery through its network of last-mile smart delivery lockers. The service reaches about six million Swedes, delivering from the likes of H&M, Ikea, and Lloyds. In a press release, the company claims its growth has more than tripled each year over the last few years.

The latest financing round consists of a new equity issuance of €5 million, the purchase of existing shares worth €9 million and a credit facility of €23 million.

As for what’s next, co-founder and CEO Alexis Priftis explained: “With the new funds, we aim to radically increase the number of parcel lockers in Sweden from 400 to between 2000-3000. In addition, the new equity will enable us to expand our offering to more markets outside of Sweden.”

Photo: Instabox founders Staffan Gabrielsson, Alexis Priftis and Johan Lundin

Share this:
Share on linkedin
Share on facebook
Share on twitter

Get exclusive access to news, data and actionable insights on the European Tech innovation ecosystem(s)

By subscribing to Tech.eu, you gain instant access to curated European technology news, market intelligence and interviews with leading startup founders, investors and more. Sign up now in under a minute to deepen your knowledge on the European Tech innovation ecosystems on a daily basis.