PantaPå raises SEK 9.5 million in bid to create global recycling revolution
STOCKHOLM – The Verdane Foundation, a private nonprofit organisation that supports causes building a better future for people and the planet, has announced its debut investment in PantaPå, a technology company whose app enables consumers to recycle various types of packaging by using their phone to scan a barcode when at recycling stations. Other investors in the SEK 9.5 million round includes Almi Invest GreenTech, Orkla Ventures and business angels.
PantaPå’s award-winning B2C recycling solution is relied upon by the likes of Mondelez, Procter & Gamble, Unilever and Orkla, and is growing by 1,000 users per day. The app, which was launched in August 2019 and has 100 000 users, is connected to over 5,000 recycling stations in Sweden and the United States and lets users keep track of their total CO2 savings.
“Our goal is to reach 500 000 users during 2020. We are very pleased to bring on investors with extensive knowledge of international expansion. With this investment we can expand the team and harness the interest shown by our existing clients and the market to expand to more markets and create a global recycling revolution,” says Suwar Mert, CEO at PantaPå, who founded the company together with his sister Berfin Mert, COO.
PantaPå was founded with a vision of creating a trashless generation by siblings Suwar and Berfin Mert. A top-10 app in App Store, PantaPå is B Corp Certified, meaning it meets the highest standards of social and environmental impact related to its entire supply chain, and counts several of Sweden’s most well-known consumer brands as its clients.
“PantaPå’s award-winning recycling solution perfectly fits the Verdane Foundation’s investment target of scalable, tech-driven solutions building a better future for people and the planet. The Verdane Foundation invests in early-stage digital consumer, software and sustainable society-themed businesses to accelerate the move to a circular economy. We are proud to partner with a team that is going to revolutionise recycling,” says Henrik Aspén, Partner and responsible for the investment at the Verdane Foundation.
The Verdane Foundation is a private nonprofit organisation that makes grants and impact investments globally in support of scientific, entrepreneurial, humanitarian and social causes working toward the stated aim of building a better future for people and the planet. The foundation’s original endowment was donated by Bjarne Kveim Lie, founder of the growth equity investor Verdane, and the foundation is financed by proceeds from Verdane funds. When making investments, the Verdane Foundation targets smaller businesses than Verdane funds. To date, the Verdane Foundation has invested in PantaPå and made donations to Business for Peace, The Good Talents School of Entrepreneurship, Norwegian Refugee Council and SABONA.