Welcome back to the Wellstreet Journal, our summary of Wellstreet’s key activities, portfolio news, and all things tech, society and investments we’ve read and want to share with you! We hope you had a great summer and are fully energised for the last stretch of 2021!
What's Up?
Last month we exited our portfolio company Returnado, the SaaS e-commerce returns management provider! We are delighted that Returnado was acquired as part of a merger along with the industry giants Unifaun, Consignor and Transsmart. Together with Returnado the four entities have been consolidated into nShift, a new global leader within cloud delivery management solutions. 🙌
We are so proud that Returnado and its founder Haider Abdo have built a product and a company that have become pioneers and thought leaders in returns management, and that they will play a central role in the future of global e-commerce solution providers. 👏 We feel privileged to have supported the founder throughout the M&A process and enjoyed working with Marlin Equity Partners and Francisco Partners, two of the world's leading technology investors. Both PE firms will remain the majority stakeholders in nShift.
nShift offers customers an end-to-end cloud platform to automate and optimize the entire delivery management process – from label creation to delivery tracking and last-mile logistics to returns management. nShift’s solutions have successfully enabled almost 1 billion annual shipments globally for e-commerce shops, retailers, manufacturers and 3PL companies to date. We wish Haider and the nShift team all the best with their new endeavour.️
Portfolio Update
🤝Future of Retail closed a new key contract with Rizzo Group to support their reconstruction
💁 New everything! Anatomic Studios revealed its new logo and brand identity. They have been giving us sneak peeks of their new collection of prosthesis covers, which will drop now in September. Follow them on Instagram and feel the hype!🤩
🚸 Hyber had another record month in August, signing up 13x more families in August 2021 than in August 2020. Sustainable families are on the rise, and we could not be more excited!
📈Aura Banking Cloud increased its client portfolio last week with the addition of Wästgöta Finans. They have also a new recruit to oversee the Finnish market, Tommi Lassila
🔤Textual has a new partnership with the Norwegian company YME Universe
👏 Congratulations to DanAds CEO, Istvan Beres, on the nomination for Foreign-Born Entrepreneur of the Year by Årets Nybyggare😲
👋 This month we celebrate again the hiring of female talent in our portfolio for senior management, tech and product positions:Skillbreak has recruited the digital specialist Natalia Petravis for their teamand Anatomic Studioshired their new industrial designer star, Naemi Jaworowski. Welcome!
Don’t miss!
⬥ Top trends in e-commerce according to VCs - we think Charles, Vue Storefront and Livebuy.io operate in the most interesting spaces although they are not without hefty competition already 😉
⬥ X Shore is one of the startups in green tech to keep an eye on according to Sifted 👀
⬥ Find out about how digital occupational pension works and why companies like Pensure are shaping the future of pensions for all 💰
⬥ Read Dagens Nyheter's interview with Gustaf Ollas about ICIW's story and the growth of e-commerce over the last year 🎽
⬥ In line with our sustainable approach, our portfolio company Pensure wrote an article explaining why and how to invest retirement savings in sustainable funds 🌱
⬥ Tibber, a provider of smart energy and green energy consumption advice, is now valued at 3.1 billion NOK. We are so proud to have been part of their story as early investors.
⬥ IKEA reveals that they will now provide clean energy to Swedish households ⚡
Join and go #foreverforward!
Help our portfolio companies grow their fantastic teams and get in touch if you know anyone who could be a great fit for any of these roles.
⬥ X Shore has 3 positions open: Service technician in Stockholm, Business Controller in Nyköping and Event & Marketing Coordinator in Newport, Road Island.
⬥ Habity is looking for a Lead Engineer
⬥ ICIW is looking for a Danish speaking Influencer Marketing Coordinator
