Cleantech Invest Plc
Company Release 20 May 2015 at 8.30 a.m. (EET)
CLEANTECH INVEST RAISES EUR 4.2 INVESTMENT INTO SWAP.COM
Cleantech Invest Swap SPV 1 AB, a Swedish holding company founded by Cleantech Invest Plc, has made an equity investment of EUR 4.2 million into Swap.com (Netcycler Oy). Cleantech Invest owns 20% of the holding company and the effective fully diluted ownership of Cleantech Invest Plc in Swap.com increases from 5.6% to 8.0% after the investment, and in addition Cleantech Invest will receive a fee in total of EUR 220,000. Cleantech Invest Plc and its affiliated companies own a total of 22.9% of Swap.com after the transaction.
CEO of Cleantech Invest Plc, Alexander Lidgren comments: "By setting up the holding company we increased ownership in Swap.com by investing our time instead of money and generated revenue for Cleantech Invest. This is well in line with our accelerator model. Investor interest for Swap.com is big and we closed this round quickly. The investors that came on board are well connected and further broaden Cleantech Invest's network."
CEO of Swap.com, Juha Koponen comments: "Swap.com's service has received tremendous consumer demand and we are now the fastest growing online consignment store in USA. This major investment enables us to expand our operations according to our growth plan."
CLEANTECH INVEST PLC
Further information:
Alexander Lidgren, CEO of Cleantech Invest Plc
tel. +46 73 660 1007
alexander.lidgren@cleantechinvest.com
Certified Advisor Access Partners Oy, tel. +358 9 682 9500
About Cleantech Invest Plc
Cleantech Invest focuses on clean energy and efficient use of natural resources. The company owns minorities in a diversified portfolio of companies and is actively looking for new capital light and high impact businesses within the cleantech universe. Cleantech Invest invests in the most promising early-stage and growth cleantech companies in Finland, Sweden and in the Baltic Sea area. The company management team members are international pioneers in cleantech investing. Cleantech Invest is also a designated Accelerator in the Vigo Program initiated by the Ministry of Employment and the Economy. For more information: www.cleantechinvest.com.
About Swap.com
Swap.com (Netcycler Oy) is an online consignment store operating in the USA for buying, selling and swapping pre-owned items. Swap.com brings the user experience and operational effectiveness of shopping pre-owned to the levels experienced with online stores selling new items.
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