Cleantech Invest participates in an underwriting consortium to back Swap.com’s upcoming investment round, with a 1.5M€ underwriting commitment. Swap.com is working with Carnegie Investment Bank to execute a private placement.
Cleantech Invest CEO Alexander Lidgren:
"Swap.com is a shining circular economy star. It is one of our first investments and an amazing growth journey has made them a leader in online consignment on the competitive American market. We see Swap.com as a strong IPO candidate with potential for exceptional value growth and broadening of their ownership base through a private placement supports achieving this target.”
The effective ownership of Cleantech Invest Plc in Swap.com is 5.5%. Cleantech Invest Plc and all of its affiliated companies own a total of 16.1% of Swap.com. The ownership does not take into account possible dilution from performance based options.
Swap.com in brief
Swap.com is the largest online consignment store in the USA. The company strives to redefine consignment services by making the process of buying and selling pre-owned goods more convenient, safe, and profitable. Preventing waste by saving pre-owned clothes and accessories from ending up in landfills, shoppers can feel good about the purchases they make on Swap.com. Offering clothes, accessories, toys and games for babies, children, women and men, Swap.com is a one-stop shop the whole family can enjoy. Swap.com is based in Chicago and Bolingbrook, Illinois and is the U.S. subsidiary of Swap Services Oy (previously Netcycler Oy), an international company based in Helsinki, Finland. www.swap.com
Cleantech Invest in brief
Cleantech Invest is a Nordic accelerator with investments in growth companies that solve global challenges. The portfolio companies are active in energy- and resource efficiency as well as decentralized renewable energy and are based in Finland, Sweden and Germany. The company management consists of company builders and investors who have been active within the cleantech space for over a decade.The company is listed on First North Finland under the ticker CLEAN and on First North Stockholm under the ticker CLEANT A.
Alexander Lidgren, Managing Director of Cleantech Invest Plc. Tel. 46 73 660 1007, firstname.lastname@example.org
Access Partners Oy, Certified Advisor. Tel. 358 9 682 9500
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Joshua B. Kirkman