Motatos Funding, Investors & Competitors

Motatos has raised $149M across 4 funding rounds, most recently a $44M undisclosed-stage round in November 2023.

Last Motatos funding round

$44M

Undisclosed stage · Nov 2023

Cumulative funding Motatos raised

$149M

across 4 funding rounds

Key investors in Motatos

  • SEB Group
  • Re:food
  • Blume Equity
  • Northzone
  • Norrsken VC
  • EXOR
  • LeadX Capital Partners
  • Circularity Capital

Motatos Overview

About Motatos

Motatos is a Copenhagen-founded retailer established in 2013 that sells surplus pantry staples, drinks, household cleaners, and pet supplies at discounts from producers' excess stock. Operating in Germany, Denmark, and Sweden via e-commerce and apps, it reduces food waste by redistributing near-expiry goods, partnering with brands like Unilever and Nestlé. Deliveries reach urban households through temperature-controlled logistics, diverting tons from landfills annually.


Founded

2013

HQ

SwedenStockholm

Website

motatos.de

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Motatos Funding History

Motatos has raised a total of $149M across 4 funding rounds.

Motatos' first fundraising round was a $41M undisclosed-stage round in March 2021. The most recent completed round was a $44M undisclosed-stage round in November 2023.

Motatos funding rounds

Motatos funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2023Undisclosed stageCircularity Capital (lead); SevenVentures$44MMatsmart-Motatos (also referred to as Motatos), a Stockholm-based direct-to-consumer e-commerce retailer, specializes in procuring and reselling surplus dry food and consumer products to combat food waste in the supply chain. Operating in five European countries, primarily the Nordics and Germany, the company has recirculated over 60,000 tonnes of products since 2014, serving over 1 million customers with competitively priced goods like Marabou chocolates. It positions itself as Europe's leading circular e-commerce for food, the top food overstock retailer in the Nordics, and Germany's fastest-growing player in this space. In November 2023, Matsmart-Motatos closed an oversubscribed €40 million (SEK 460 million) growth capital round led by Circularity Capital, with participation from existing investors including Northzone and new investor SevenVentures (ProSiebenSat.1's arm). The funds are earmarked for expansion in the German and Nordic markets, including automation of the German warehouse to support significant growth in DACH and Nordic regions. Total funding raised to date stands at €129.8 million or $142.2 million, with cumulative capital over SEK 1.8 billion. At the time of the round, the company reported a revenue run rate of €100 million and €80 million in revenue for 2022. Consolidated 2023 turnover reached 1,043 million SEK (over €95 million), with operations in Sweden (SEK 917 million), Germany (SEK 95 million), and UK (SEK 31 million), though the group posted a net loss of SEK -374 million. Equity ratio improved to 80% by year-end. The investment aligns with impact investing trends, emphasizing circular economy principles by saving surplus goods from landfills and reducing CO2e emissions (over 19,000 tonnes net saved in 2023). Backed by investors like SEB Private Equity, Exor Capital, LeadX Capital, Gullspång Re:food Invest, Blume Equity, and Norrsken VC, Matsmart-Motatos aims for profitability through operational efficiencies and market expansion amid a tough market for circular concepts.
Sep 2022Series DSEB Group (lead); Re:food; Edastra Venture Capital; Blume Equity; EXOR; Norrsken VC; Northzone; LeadX Capital Partners$37MMotatos is a Swedish-based D2C sustainable e-commerce business focused on providing cost-conscious consumers with affordable sustainable choices, operating in markets including Sweden, Germany, and the UK where it launched earlier in 2022. On 1 September 2022, it announced a directed new share issue raising €38 million to existing shareholders at an attractive uptick valuation, led by SEB Private Equity—its largest owner—and Exor Capital, which substantially increased its stake from the prior Series C in November 2021. This brought total funds raised to over €130 million, with proceeds aimed at accelerating growth in key markets like Germany and the UK, as well as developing the business model. SEB Private Equity's Investment Director Maria Bilkenroth highlighted the alignment with sustainable development goals, noting strong results within a year of their initial investment and the importance of growth in sustainable sectors for the circular economy shift. The round involved existing investors increasing commitments, reflecting confidence in Motatos' European expansion. Motatos positions itself in the growing sustainable e-commerce space, emphasizing accessibility to green products amid rising consumer demand for affordable sustainability options across Europe.
Nov 2021Series CBlume Equity (lead)$27MMotatos is a Swedish D2C e-commerce company that operates an online discount retailer for non-fresh food items, selling surplus, mislabeled, or outgoing goods at discounted prices with home delivery. The company was founded in 2014 and operates under the Motatos brand in Finland, Denmark, and Germany, while known as Matsmart in its home market Sweden. The company addresses both cost-of-living challenges for consumers and food waste sustainability issues. In November 2021, Motatos announced a €24 million funding round led by London-based Blume Equity, with participation from existing shareholders SEB Private Equity and Gullspång Re:food Invest. The proceeds were allocated to accelerate growth in key European markets. According to financial reports, Motatos's total revenue for 2021 amounted to €68 million, with a current revenue run rate of €100 million at the time of the announcement. The company had raised over €130 million in total capital from outside investors since its founding. By September 2022, the company had announced an additional €38 million Series D round at a significantly higher valuation, demonstrating strong investor confidence and market traction.
Mar 2021Undisclosed stageSEB Group; Re:food$41MMotatos is a Swedish-based direct-to-consumer sustainable e-commerce company that sells discounted surplus food to reduce waste. The company operates in Sweden, Germany, the UK, Finland, and Denmark, positioning itself between food surplus platforms like Too Good To Go and traditional grocery delivery services. In November 2021, Motatos closed a Series C funding round led by SEB Private Equity and Exor Capital; this round valued the company at approximately €150 million (pre-money). By 2021, Motatos had achieved €68 million in total revenue and was on track to reach €100 million by year-end 2022, with demonstrated profitability in Sweden during some months. The company continued to expand aggressively, raising an additional €38 million in September 2022 at a Series D valuation exceeding €300 million, representing a nearly 30% increase from the November 2021 round. A €24 million round led by Blume Equity in autumn 2021 preceded the November Series C, with that earlier round showing the company's valuation had doubled from a €35 million raise in March 2021.

Who has invested in Motatos?

10 investors have backed Motatos across its funding rounds, including SEB Group, Re:food, Blume Equity, Northzone, Norrsken VC and EXOR.

Lead investors include Circularity Capital, SEB Group and Blume Equity.


Motatos Investors

Investors in Motatos by funding rounds participated
InvestorHQRoundsRoleFirst check
SEB GroupSwedenStockholm2LeadMar 2021
Re:foodSwedenStockholm2ParticipantMar 2021
Blume EquityUnited KingdomLondon2LeadNov 2021
Edastra Venture CapitalSwedenStockholm1ParticipantSep 2022
EXORNetherlandsAmsterdam1ParticipantSep 2022
Circularity CapitalUnited KingdomEdinburgh1LeadNov 2023
Norrsken VCSwedenStockholm1ParticipantSep 2022
SevenVenturesGermanyMunich1ParticipantNov 2023

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Motatos Competitors

Motatos competitors include listed companies like Alibaba Group, Carvana and Shein, and private ones like Licious, Misfits Market and Yijiupi.

Public and private companies comparable to Motatos
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
LiciousIndiaBangalorePrivate$45M-$2B-
Misfits MarketUnited StatesPortland, ORPrivate--$2B-
YijiupiChinaWuhuPrivate--$1.1B-
Alibaba GroupChinaChinaPublicly listed$153B$15B$266B1.6x
CarvanaUnited StatesUnited StatesPublicly listed$20B($110M)$72B2.9x
SheinChinaChinaPublicly listed$42B$2.3B$21B-

Motatos Public Comps

Motatos is still privately-owned, but its public comps include Amazon, Tencent, Coca-Cola, Alibaba Group, Nestlé, PepsiCo, AB InBev, Unilever, Pinduoduo and MercadoLibre.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Amazon$717B$161B3.9x3.5x17.5x13.8x
Tencent$112B$51B4.5x4.2x9.9x9.9x
Coca-Cola$48B$18B8.5x8.3x22.8x24.1x
Alibaba Group$153B$15B1.7x1.6x17.5x13.0x
Nestlé$109B$19B2.9x2.8x16.2x14.4x
PepsiCo$94B$16B2.4x2.3x14.5x11.8x
AB InBev$59B$20B3.9x3.6x11.7x10.0x
Unilever$58B$12B2.9x2.8x13.6x12.4x

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Common questions about Motatos

When was Motatos founded?Motatos was founded in 2013.
Where is Motatos headquartered?Motatos is headquartered in Stockholm, Sweden.
Is Motatos publicly listed?No, Motatos is a private, VC-backed company.
How much funding has Motatos raised?Motatos has raised $149M across 4 funding rounds.
What was Motatos' last funding round?Motatos' last funding round was a $44M undisclosed-stage round in November 2023, led by Circularity Capital.
Who are Motatos' investors?Motatos' investors include SEB Group, Re:food, Blume Equity, Edastra Venture Capital, EXOR, Circularity Capital, Norrsken VC, SevenVentures, Northzone and LeadX Capital Partners.
Which companies are comparable to Motatos?Companies comparable to Motatos include Licious, Misfits Market, Yijiupi, Alibaba Group, Carvana and Shein.

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