Flat Capital AB (publ) ("Flat") publishes its year-end report for January-December 2022 where the net asset value (NAV) per share corresponds to SEK 10.81, which represents a decrease of -9.6% for the full year or -4.0% for the quarter. This should be seen in the light of the fact that both Flat and the portfolio companies have experienced significant events, both positive and negative, during the year. Due to continued negative developments in the capital markets in H2-2022, it was decided to apply an additional market adjustment of -20% to certain holdings. The market adjustment was applied on the one hand to those holdings that raised capital in Q2-2022, and thus were not adjusted in that period, and on the other hand to those holdings whose comparable listed peers and relevant indices were deemed to exceed the previous market adjustment of -30% applied in H1-2022. Flat now enters the new year with a strong portfolio of entrepreneur-driven companies in leading positions that are well capitalized, capable of taking them to profitability. This, combined with Flat’s own cash position, means that we are well-positioned for the year ahead and we aim to take advantage of the investment opportunities that we are confident will arise in 2023
Flat Capital AB (publ) ("Flat") is investing approximately SEK 5.4 million in DeepL, a German-based AI company that aims to eliminate language barriers worldwide using artificial intelligence (“AI”). 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. DeepL monetizes primarily on enterprise customers and by upgrading users. Other investors in DeepL include reputable players such as IVP, Atomico and Benchmark
Board member Nina Siemiatkowski has announced her intention to leave the Board at her own request at the end of 2022 due to time constraints resulting from her commitment as founder and CEO of Milkywire AB ("Milkywire")
Flat Capitals portföljbolag Getir, tech-bolaget som erbjuder hypersnabb leverens av dagligvaror, annonserade idag 9 december förvärvet av rivalen Gorillas Technologies (“Gorillas”). Getir har på kort tid blivit en av Europas ledande leveransplattformar som strävar efter att varorna ska levereras till kunden inom 10 minuter. Förvärvet av Gorillas innebär att Getir tydligt fortsätter stärka sin position i Europa och USA och är ett tydligt steg framåt i visionen om att bygga världens snabbaste ekosystem för on-demand leveranser
Flat Capital AB (publ) (“Flat”) gör en intern befordran av Flats Investment Manager Antonio Melani som utses till CFO. Han ersätter därmed den nuvarande deltidskonsulterande CFO:n Björn Petersson. Antonios nya roll träder i kraft per den 16 november 2022