Funding success for Reclaimit: 30 million SEK to fuel Nordic expansion in circular shopping
Qvantea Capital Leads Investment Round, Joined by Spintop Ventures and E-commerce Visionaries Jim Löfgren and Anton Johansson.
Reclaimit, the market-leading Software as a Service (SaaS) company in the Nordic region specialising in automated returns and aftermarket solutions, proudly announces the successful conclusion of a funding round led by Qvantea Capital.
Qvantea Capital, in collaboration with existing shareholder Spintop Ventures and distinguished industry figures such as Jim Löfgren, a Klarna veteran, and Anton Johansson, the founder of leading E-commerce agency Grebban, has injected 30 million SEK into Reclaimit. This investment will fortify the company's growth strategies, facilitating the enhancement of its dominant position in the Nordic market and enabling expansion into new territories. A portion of the funds will be allocated to further develop the company's platform, already providing retailers with a comprehensive aftermarket solution for returns, claims, and tools for reuse and circularity.
Simon M. Lidén, the founder of Qvantea Capital, emphasized the rationale behind their investment:
"We chose to invest in Reclaimit's aftermarket platform after gaining insights into their advanced technology, highly skilled team, well-defined growth trajectory, and a clear vision for the future. This investment aligns with our strategic goals, and we are confident in the company's continued success and international conquests."
In 2023, Reclaimit has experienced substantial growth in the Nordic region. The company has established partnerships with approximately twenty new brands, including CDON, Amundsen and MiniRodini. Additionally, the year has seen Salling Group, Denmark's largest retail conglomerate with brands such as Netto, BR Leksaker, Bilka, and Føtex, join as a new customer. In Norway, Reclaimit launched with COOP Norge. With Power's takeover of MediaMarkt's previous operations in Sweden, the collaboration with Reclaimit has expanded to cover all markets.
To support this rapid expansion, Reclaimit has strengthened its team with key appointments. Michaela Westberg, formerly of Exopen, has recently assumed the role of Chief Marketing Officer (CMO), and Marcus Litz, previously with Mathem, has joined as the Chief Financial Officer. In the autumn, Reclaimit also established local presence in the Norwegian and Danish markets.
Wilhelm Hamilton, CEO of Reclaimit, expressed the company's excitement, stating,
"We are experiencing an incredibly exciting period at Reclaimit, with new clients such as CDON, ByMalina, and Salling Group, along with rapid expansion and several key hires. The circular shopping market is becoming increasingly important för both retailers and suppliers, and our growth demonstrates our ability to deliver an optimal post-purchase experience, fostering consumer loyalty and boosting retailers' profitability. The right return processes and solutions for service and reuse are also crucial from a sustainability perspective."
About Qvantea Capital:
Qvantea is a Nordic investment firm that specializes in enterprise software, data, and technology-enabled organizations. The firm’s investment approach is focused on creating long-term market value for the benefit of its ecosystem of investors, companies, customers, and employees. Qvantea’s investments are founded on a long-term capital base, extensive experience in structuring technology-oriented transactions, and the implementation of proven management techniques that foster sustainable growth.
About Spintop Ventures:
Spintop Ventures is an early-stage venture capital firm. Since the start in 2010 Spintop invests in innovative software-based technology companies from across the Nordics aspiring to become international sector leaders and drive the transformation into a long-term sustainable society
For more information, please contact Wilhelm Hamilton, CEO