Kinnevik participates in funding round in Budbee lead by AMF

By Benzinga8 days ago

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Kinnevik AB (publ) (“Kinnevik“) today announced an investment of SEK 105m in a SEK 525m funding round in Budbee, the Swedish logtech company offering sustainable, last mile delivery services for e-commerce. The round is led by AMF, one of Sweden's leading pension companies, one of the largest owners on Nasdaq Stockholm and one of Kinnevik's largest shareholders.

Budbee is the market leader in home delivery services in Sweden, with operations also across Finland, Denmark, and the Netherlands. Budbee has solved the last mile challenge through a purpose-built technology platform offering a new level of convenience for e-commerce customers, and in a sustainable way. Merchants who choose the service as their default delivery method have seen customers increasing their average order value and purchase frequency; and the service is used by major brands such as ASOS, Zalando, and H&M.

Budbee was founded by Fredrik Hamilton in 2015 on the back of his frustration of the inefficiency of last mile delivery services. The company has grown rapidly ...

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