Instabox closes $190 million growth equity investment led by Verdane

The Swedish tech company Instabox is on a mission to revolutionise the world of e-commerce shipping through more environmentally sustainable, faster, and more efficient deliveries. Instabox was recently named Europe’s third fastest-growing tech company by the Financial Times in its FT1000 2022 ranking.

Highlights of the recent investment:

• The growth equity investment is led by Verdane, the European specialist growth equity investor, and also included existing owners like Creades and EQT Ventures.
• Instabox will use the funding to continue investing in sustainable solutions, optimise its best-in-class technology, and increase its European footprint.

Instabox has challenged traditional shipping services and revolutionised how online shoppers can receive their e-commerce parcels. By placing smart automated parcel lockers at convenient locations, customers can choose when, where and by whom a parcel is picked up – all without standing in line or waiting at home all day for your parcel. The combination of faster (often same-day) and more sustainable (completely fossil-free) deliveries has quickly made Instabox a favorite among many shoppers.

In the $190 million growth equity investment, Verdane will roll its stake in Norwegian home delivery company Porterbuddy, recently acquired by Instabox, as well as invest new capital in Instabox. The investment is also backed by existing owners including Creades, EQT Ventures, Tham Special Investment AB, Nineyards, Tacito, and M2 Asset Management and a number of new investors.

“I’m delighted with the trust that has been shown us by our existing and new investors. The global parcels market continues to grow every year, and Instabox’s lightning-quick, hassle-free, and completely fossil fuel-free shipping set us apart from traditional shipping companies. The new funding will help us build on that and further improve our service, making it even more sustainable and customer-focused”, says Alexis Priftis, CEO and Co-Founder of Instabox.

Instabox is growing at a very rapid pace and was recently ranked third among the fastest-growing tech companies in Europe by the Financial Times, with a compound annual growth rate of 300 percent. The company offers both smart locker and home deliveries in Sweden, Norway, Denmark, the Netherlands, and recently made its entry into the German market. In total, Instabox delivers more than 3 million parcels monthly across its markets. Over the last twelve months, the company has also acquired the market leaders in same-day home deliveries in both Norway (Porterbuddy) and the Netherlands (Red je Pakketje – now Instabox).

Instabox has pioneered the industry regarding environmental sustainability. As a completely fossil-free shipping company, it stands to benefit from an increased focus on sustainable options from both merchants and online shoppers. In Sweden, the online beauty retailer Lyko recently decided to remove non-fossil-free options from their checkout altogether, and the trend to prioritise sustainable alternatives is expected to continue.

“With a focus on sustainability, customer flexibility, and our advanced tech stack, we have found the winning combination of best-in-class locker deliveries and home deliveries. We really look forward to continuing on our mission to revolutionise the world of shipping,” says Alexis Priftis.

Christian Jebsen, Partner at Verdane and a new member of the Instabox board, comments:

“The Verdane team has followed Instabox for a long time and is pleased to partner with Instabox’s pioneering team on the journey to transform last-mile deliveries. As one of the most active digital consumer investors in Northwestern Europe, Verdane is well placed to support Instabox’s geographical expansion, drawing on our significant experience scaling sustainable consumption and digital consumer businesses across the Benelux, DACH, and Nordic regions. We look forward to working closely with the Instabox team to create a hassle- and fossil fuel-free future for the European consumer.”

Verdane is a specialist growth equity investment firm that partners with tech-enabled and sustainable European businesses to help them reach the next stage of international growth.