Matsmart is cutting Nordic food waste and aims to expand its e-com store to new markets
Erik Södergen owned a grocery store in Stockholm and was frustrated he had to throw away completely edible food because the best before date was due. Something needed to be done and last year alone the e-commerce company Matsmart saved 708 tons of food from being wasted.
“A bottle of water does not go bad just because Tuesday changes to Wednesday and the best before date passes. The best before date is only the producer’s promise that the product keeps the same quality as when it was packaged. Also, the best before date should not be mixed up with the use by date”, says Matsmart’s CEO Karl Andersson.
Founded in Sweden in 2013, the company is also now active in Norway and Finland. Matsmart’s goal is to rescue food and other products that would have otherwise ended up in the trash. This can be due to the best before date approaching, packaging that has changed or products that have small defects, e.g. candies. The products are 20-90% cheaper than in stores, and delivery is possible to everywhere in Sweden, Norway and Finland. It is the only player in the market that can offer producers a chance to reach out to three countries at the same time.
Matsmart has recently conducted surveys in Finland and Sweden, which both concluded that as many as every third person throws away food that has gone past its best before date. Even more get a guilty conscience from throwing away food.
“Throwing away edible food is not just a local or Nordic problem. It’s a global challenge as about 33% of food that’s produced gets thrown away. At the same time, there are over 1 billion people suffering from hunger”, continues Andersson. “E-commerce has proven to be a success factor in reducing food waste”.
Matsmart works with producers like Unilever, Mars, Fazer and Nestlé. Matsmart has so far raised €7M in funding. The company is funded by Northzone, GP Bullhound, Edastra, Inbox Capital and business angels like Avito founders Jonas Nordlander and Filip Engelbert, and Adlibris CEO Johan Kleberg.
At the current rate, the turnover for the next 12 months is projected to reach €17M. The company aims for growth by expanding to new markets in the near future.
Ulf Skagerström, Co-founder / CMO
+46 70 431 42 27
Available for interviews at Slush, Helsinki, 30.11.-1.12.
Rikard Hellqvist, Communications
+46 70 842 77 33
Matsmart was founded in Sweden in 2013. Its aim is to buy and sell food that – in many cases – would otherwise end up in the trash. The products are sold at discounted prices to Sweden, Norway and Finland.