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Swe-Cham Member Budbee, Raises SEK 525M In An Investment Round Led By AMF

Budbee (), the logtech startup which offers a sustainably-focused delivery service committed to maximizing customer satisfaction and efficiency of ‘the last mile’, has raised SEK 525M in an investment round led by AMF, one of Sweden’s leading pension companies and one of the largest owners on Nasdaq Stockholm. AMF is investing SEK 240M in Budbee and becomes one of the company’s three largest shareholders.

Existing investors Stena Sessan, Kinnevik, and H&M CO:LAB all participated in the investment round, which takes Budbee’s total funding to-date to SEK 925M.

Budbee will use the funding for international expansion, and to invest in technology and processes that will further enhance the sustainability aspects and customer experience of its services.

Budbee, which currently operates in its native Sweden, the Netherlands, Denmark, and Finland, has solved the last mile challenge through a purpose-built technology platform offering a new level of sustainability and convenience. As a consequence of its innovation, the Stockholm-headquartered company is the market leader within the Nordics and has experienced rapid growth since launching in 2015.

Budbee coordinates millions of deliveries every month, an increase of over 200% compared to last year, and is relied upon by independent e-commerce store owners as well as major brands such as ASOS, Zalando, and H&M.

Budbee has also proven to be a valuable investment for merchants who choose the service as their default delivery method, on average increasing their order value, returning customers, and purchase frequency.

“When I founded Budbee in 2015, my team and I quickly recognized the enormous potential of technology to transform e-commerce deliveries,” says Fredrik Hamilton, Budbee Founder and CEO. “Today we have built a service that is loved by millions of people in Sweden, The Netherlands, Denmark, and Finland. AMF is one of Sweden's leading pension companies and we are very happy to welcome them on board as a long-term owner, supporting our ambition to expand and improve e-commerce shopping for millions more within Europe.”

“Budbee is a very interesting Swedish company with competitive smart solutions in an industry with high structural growth. Their sustainability ambitions, with the goal to make all transports fossil-free by 2022, contributes to the company's attractiveness and future prospects. We look forward to becoming a long-term and active owner in Budbee during their continued growth journey.”, says Anders Oscarsson, Head of Equity, AMF.

Fredrik Konopik, Investment Director, Stena Sessan commented: “Budbee has shown tremendous growth over the last couple of years and the team has made important investments in order to meet the increased and growing demand for climate-smart deliveries. We are excited to see that the company has strengthened its capital base further with support from existing shareholders and AMF as a new investor, creating an even stronger foundation for continued and sustainable growth going forward.”

Kinnevik CEO, Georgi Ganev commented: “Last-mile delivery is key to customer satisfaction in e-commerce, and Fredrik and his team have built Budbee into the go-to option for a frictionless last-mile delivery experience across its markets. We are excited to partner with AMF in this funding round to continue Budbee’s successful expansion in new and existing markets, as well as the expansion of its product suite to Budbee Boxes”.

Nanna Andersen, Head of CO:LAB H&M Group commented: ”We are excited to continue our investment in Budbee and to be part of their successful journey. We truly believe in the team and look forward to jointly offer services that enable an even better customer experience for our customers”

Carnegie Investment Bank and Nordea Bank Abp, filial in Sweden, have acted as financial advisors to Budbee in connection to the investment round.

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Swe-Cham Member UP THERE, EVERYWHERE celebrates 10 years
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Digital press conference with Magdalena Andersson and Kristalina Georgieva, Managing Director of the IMF

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Time:  Place: Digital press conference. The press conference is broadcast online on government.se and on Youtube (Regeringskansliet).      
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NL Cabinet Rutte resigns following childcare benefit scandal
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The Swedish coronavirus laws you need to know about in 2021
Pandemic law One of the biggest changes was the introduction of this wide-ranging law, which came into effect on January 10th and gives the government powers to introduce certain measures if needed to curb the spread of the coronavirus. The measures introduced so far under the new law include a legal limit on the maximum number of people allowed in shops and sports facilities (one per every 10 square metres of usable space) and a maximum limit for all events, including some private events (no more than eight people). Under the new law, the government would be able in future to introduce more measures, ranging from limits on the numbers that can gather at public parks or beaches to closing down shops, restaurants, or public transport completely. The law is currently in force until September 30th, 2021.   Turnover-based government support for sole traders If you are a sole trader and have lost income due to the pandemic, you can apply for government support. In order to be eligible, you should have had a turnover of at least 200,000 kronor (approximately $24,100) the previous year, and not have received unemployment benefits. Eligible sole traders can receive support to cover up to 75 percent of the lost turnover, up to a maximum of 120,000 kronor. You can apply for support to cover the periods March-April, May, June-July 2020, and the government has proposed extending this to January-February 2021. At the moment, the deadline for applications is January 31st, 2021. Find out more about this support and how to apply from , and fill in your application at .   Annual general meetings adjusted If you are involved in a registered company or association in Sweden, including housing associations (bostadsrättsföreningar) there is a legal obligation to hold an annual general meeting (stämma) and this usually has to be held in person. During the Covid-19 pandemic, a temporary law gives boards the possibility to reduce the number of people present, for example by holding the meeting online or via postal voting instead, which is not usually allowed. It has been extended beyond the original end date of December 31st, 2020, and now will continue to apply until the end of 2021.   Read about all new laws here https://www.thelocal.se/20210111/coronavirus-law-changes-to-expect-in-2021 Source The Local      
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Negative COVID-19 test result and declaration on arrival in the Netherlands

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Ban on entry into Sweden from the United Kingdom and Denmark
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Foreign Minister Ann Linde inaugurated Swedish OSCE Chairpersonship 2021Foreign Minister Ann Linde inaugurated Swedish OSCE Chairpersonship 2021
Chairperson-in-Office Ann Linde presented Sweden’s 2021 priorities to Permanent Council   Published  

Over the coming year, the Swedish Chairpersonship will do its part to ensure that the OSCE can make a real difference on the ground and defend the principles on which the Organization was founded, said OSCE Chairperson-in-Office and Minister for Foreign Affairs of Sweden Ann Linde in her virtual address to the Permanent Council today.

“In a situation where multilateral co-operation and international law are increasingly being challenged, and our agreements and instruments to strengthen security are being questioned, we need to remind ourselves why we designed them in the first place,” said Linde. “Sweden is convinced that multilateral co-operation is the best way to address our common challenges. Sweden has shown that we are ready to shoulder our responsibility for the multilateral system.” Elaborating on the Chairpersonship’s priorities, she said they will focus on the principles and commitments shared by all 57 participating States, defending the European security order and upholding the OSCE’s concept of comprehensive security. Political and economic security, human rights, democracy, the rule of law and equality are interrelated and interconnected, she added. “Through the shared commitments on which the OSCE was founded, the link between security and respect for human rights, democracy and the rule of law is crystal clear,” said Linde. “Together we have declared all OSCE principles and commitments to be matters of immediate and legitimate concern to all participating States.” “By holding each other accountable, we make sure that our commitments remain relevant. By honouring our commitments, we make sure that our region is safe. This is where the unique value of our organization lies.” Conflict resolution efforts in the region is a high priority, Linde said, noting the ongoing conflicts and crises in and around Nagorno-Karabakh, Ukraine, Moldova, Georgia and Belarus. “Threats to international peace and security, as well as the suffering caused by conflicts, are simply unacceptable,” Linde said. “We therefore need to keep the resolution of the conflicts in our region at the top of our agenda.” She said that the Chair will call for respect for international law in all conflicts and will back measures to mitigate the humanitarian consequences and advocate an inclusive approach. The Chair remains ready to engage directly with stakeholders and offers OSCE’s good offices to facilitate solutions, Linde added. She underscored that the OSCE “is only as effective as we, the participating States, allow it to be” and called on participating States to “engage constructively” on the OSCE Unified Budget. She said the Chair stands “ready to do our part in leading negotiations.” She stressed that achieving comprehensive security throughout the region requires meaningful inclusion and empowerment of women. Linde emphasized that as Chairperson-in-Office, she would place special emphasis on strengthening gender equality in all aspects of the Organization’s work.
  For more information: Photo Photo: The Government Offices of Sweden
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