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

instabox tech.eu
annelise@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

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