Company
Description
Year of initial investments
Current stage
Instabee was founded in 2022 after combining Budbee and Instabox - two leading last-mile delivery companies. Instabee is present in seven countries, serving thousands of online merchants, including ASOS, Zalando, Inditex and H&M. Instabee is on track to become the most admired European e-commerce enabler. Since the start, Instabee has focused on consumer-centric and sustainable solutions, offering deliveries to boxes and homes using muscle power, electricity, renewable diesel and biofuels. Through bespoke technical solutions, Instabee can guarantee optimal fill-rates and routing, minimizing any unnecessary transports. Instabee is backed by Kinnevik, Creades and EQT among others.
7 476 746 SEK
Founded: 2016
Flat invested: 2013
Alexis Priftis (CEO) & Fredrik Hamilton (board member)
Getir offers hyper-fast grocery delivery, with the vision to build the world's fastest on-demand delivery ecosystem. Consumers can order everything from transport to food, and the aim is for goods to be delivered to their door within 10 minutes of ordering. Through its platform, the company collects data and insights that are used to streamline and optimize all flows. Getir has quickly become one of the worlds leading delivery platforms. In 2022, Getir acquired the European competitor Gorillas, an acquisition that also implied establishing its presence in the US. Getir was co-founded and is run by Nazim Salur, and its ownership list includes prominent investors such as Silicon Valley-based Sequoia Capital, Mubadala Investment Company and Michael Moritz, who is Chairman of Klarna, among others.
40 385 489 SEK
Founded: 2015
Flat invested: 2022
Nazım Salur (CEO)
OpenAI, the pioneering artificial intelligence research company that aims to develop and lead revolutionary AI technologies. Since the company was founded in 2015, it has been at the forefront of AI development, resulting in platforms such as ChatGPT and Dall-E, as well as a large number of collaborations with leading global companies where OpenAI has integrated its AI technology. OpenAI was founded in 2015 by a group of leading AI researchers and entrepreneurs, including current CEO Sam Altman, along with Elon Musk, Greg Brockman, Ilya Sutskever, among others. Its research is published in top academic journals and cited by thousands of other researchers, and has quickly become one of the most respected and influential organizations in artificial intelligence.
31 623 227 SEK
Founded: 2015
Flat invested: 2023
Sam Altman (CEO)
among others
Truecaller is the leading global platform for verifying contacts and blocking unwanted communications. The app helps the user categorize the caller and warns the user of fraud attempts, spam or sales pushes, both through calls and text. The platform now has over 330 million active users, helping to make their communication experience safer and more efficient. Users can also use the app to look up numbers in Truecaller's vast identity database with half a billion downloads since launch and around 38 billion unwanted calls identified and blocked in 2021. Since 2021, the company is listed on Nasdaq Stockholm with Sequoia Capital as the largest investor, which like Flat invested early in the company.
600 600 SEK
Founded: 2009
Flat invested: 2013
Alan Mamedi (CEO)
Nami Zarringhalam
Since 2005, Klarna has been working to revolutionize the banking industry. With more than 150 million active users globally and 2 million daily transactions, Klarna meets the rapidly changing needs of consumers by helping them save time and money while making informed decisions and taking control of their finances. More than 450,000 global retail partners, including H&M, Saks, Sephora, Macy's, IKEA, Expedia Group and Nike, have integrated Klarna's innovative technology to deliver a seamless shopping experience both online and in-store.
93 873 902 SEK
Founded: 2005
Flat invested: 2021
Sebastian Siemiatkowski (CEO)
Niklas Adalberth
Victor Jacobsson
2 684 061 SEK
Founded: 2016
Flat invested: 2018
Andreas Palm (CEO)
Christian Larson
DeepL is a German based AI-company that has set itself the goal of eliminating language barriers worldwide by using artificial intelligence. DeepL offers multilingual automatic translation through its platform using AI neural machine learning that can be used via web browser, mobile app, browser extension or through integrated API. It also provides professional products for companies, business people and translators.
5 412 303 SEK
Founded: 2016
Flat invested: 2023
Jaroslaw Kutylowski
Figma offers an outstanding design tool that allows users to work interactively and simultaneously. The tool makes the design process faster and more efficient, while allowing users to see each other's contributions in real time. Through its licensing model, which works on various operating systems, the company has customers in prominent global companies such as Microsoft, Google, Oracle, Slack and Spotify and a large number of smaller entrepreneurial companies. The company's ownership list includes many prominent investors, such as Sequoia Capital and Andreessen Horowitz.
4 571 221 SEK
Founded: 2012
Flat invested: 2021
Dylan Field (CEO)
Evan Wallace
Kry is Europe's largest digital healthcare provider, with the vision to contribute to more equal and accessible healthcare for all. Since its launch in 2015, Kry’s doctors, nurses and psychologists have helped over 7 million patients across Europe. In addition to digital care meetings, Kry also has over 28 physical care centers in Sweden, and is currently also present in the UK, Norway and France.
10 068 836 SEK
Founded: 2014
Flat invested: 2021
Johannes Schildt (CEO)
Fredrik Jung Abbou
Josefin Landgård
Joachim Hedenius
LoveLocal aims to digitize the USD 1.1 trillion local retail industry in India through its platform that enables local retailers to digitize their stores and thereby streamline their operations through increased insights and better customer relationships. For customers, the platform means, among other things, that they get an overview of their local supply and can shop more efficiently, whether in person or online. The company's list of owners includes Vulcan Capital and Alumni Ventures Group.
18 030 682 SEK
Founded: 2015
Flat invested: 2021
Akanksha Hazari (CEO)
Lyst was founded on the concept that consumers should be able to efficiently find the fashion they are looking for. The platform allows you to search through thousands of fashion stores at once, bringing together over eight million products from over 17,000 leading brands and retailers in one place. Lyst is now the largest fashion search platform with over 160 million shoppers per year. The business model is based on a commission on the sales made through the platform. The company's list of owners includes the world's leading luxury brand company LVMH and Balderton Capital.
7 540 137 SEK
Founded: 2010
Flat invested: 2021
Chris Morton (Executive chairman)
Sebastjan Trepca
Devin Hunt
Nylas has a strong vision to make the world more productive through smarter and better software solutions. Through the company's various programming interfaces, customers can build integrations with different functions, for smarter and automated workflows. Since its inception, the company has distinguished itself on various prominent lists in the US, including as one of the fastest-growing unlisted companies and as one of the most attractive employers
2 100 427 SEK
Founded: 2013
Flat invested: 2021
Gleb Polyakov (CEO)
Christine Spang
Michael Grinich
With world-leading travel planning company Omio, it facilitates travel planning through its platform, which brings together more than 1,000 travel providers for train, bus, ferry, air and car rental in one place. The technology has a large amount of data and can present the best travel option according to the customer's search, collecting the tickets on the same platform, and is available in several countries worldwide. The list of owners includes Kinnevik, Temasek and Kleiner Perkins.
817 662 SEK
Founded: 2012
Flat invested: 2015
Naren Shaam (CEO)
Pangaia designs and produces fashion and accessories through the use of innovative technical and biotechnological materials. The company aims to work sustainably throughout the product life-cycle, including through the use of responsibly produced fabrics and packaging. For example, the company creates vegan leather from grapes, down jackets filled with wildflowers or ink for garment printing from air pollution! Pangaia's goal is to operate a climate-neutral business by 2025, part of its strategy to achieve a fully climate-positive business model.
3 462 156 SEK
Founded: 2018
Flat invested: 2021
Miroslava Duma
Perplexity is an alternative to traditional search engines, where you can directly pose your questions and receive concise, accurate answers backed up by a curated set of sources. It has a conversational interface, contextual awareness and personalization to learn your interests and preferences over time. Perplexity’s mission is to make searching for information online feel like you have a knowledgeable assistant guiding you, it is a powerful productivity and knowledge tool that can help you save time and energy with mundane tasks for a multitude of use cases.
3 128 760 SEK
Founded: 2022
Flat invested: 2023
Aravind Srinivas, Denis Yarats, Johnny Ho & Andy Konwinski
Prion offers a holistic platform for preschool activities. The platform can be used to efficiently send information to caregivers and document the child's development, and the company supports the preschool curriculum, which means that documentation can be linked to the curriculum objectives. The platform also offers a web-based service through which educators and managers can access statistics, which facilitates monitoring of activities and future planning.
1 002 760 SEK
Founded: 2015
Flat invested: 2016
Fredrika Bernadotte (CEO)
Quartr is on the one side a comprehensive yet easy-to-use app for investors, and on the other side, a completely new communications platform for public companies. Quartr's mission is to raise the bar and set a new gold standard for how companies interact with the investing community, and vice versa.
1 140 847 SEK
Founded: 2020
Flat invested: 2022
Sami Osman (CEO)
Oscar Küntzel
August Nordström
Oliver Hamrin
David Dag
4 883 092 SEK
Founded: 2019
Flat invested: 2022
Job van der Voort (CEO)
Marcelo Lebre
Steven AB is a financial services platform focusing on joint expenditure management. In the Steven app, users create groups where they enter expenses to be shared, for example for a household or a trip with friends. Debt payments are made through the app, which also keeps track of who has and has not paid. The business model is based on a freemium model where revenues are generated from premium subscriptions, among other things. Steven is growing mainly organically with thousands of new users a month.
772 123 SEK
Founded: 2016
Flat invested: 2017
Jens Saltin
Fredrik Olofsson
One True Holding Co ("TrueAccord") provides a service that enables the efficient collection of debt digitally with the vision of restoring hope and financial stability to those who have lost it. The service is based on machine learning and has a patented algorithm. Through the platform, debt repayment can be carried out automatically, and over 90 percent of fundraising is done without human interaction.
655 088 SEK
Founded: 2013
Flat invested: 2019
Ohad Samet
Nadav Samet
Nadav Sr. Samet
Uniplaces is an online marketplace for booking accommodation for longer periods. The platform thus acts as an intermediary for tenants and landlords. Uniplaces has offices in London, Lisbon, Berlin, Barcelona, Madrid and Milan. The business model is based on a commission fixed from the rent due to the landlord.
659 871 SEK
Founded: 2012
Flat invested: 2015
Miguel Amaro
Ben Grech
Mariano Kostelec
In November 2021, Flow announced a takeover bid from the listed company Global-e. The acquisition was paid partly in cash and partly in Global-e shares. Flat received approx. SEK 12.8 million in cash and sold all its shares in Global-e in February 2023, resulting in the holding in Flow has been divested for a total consideration of approx. SEK 17.6 million.
Value at Flat IPO (Oct 2021): 1.7 MSEK
Total proceeds at exit: 17.6 MSEK
Return: 15.9 MSEK / 10.4x MOIC / +6,800% IRR
Founded: 2013
Flat invested: 2015
Exit: 2022 (Acquired by Global-e)
Rob Keve (CEO)
Michael Bryzek