A group of Sweden’s wealthiest individuals and families, including one of the heirs to the H&M fortune, have co-invested in a carwash app platform.
Carl Stefan Bengtsson, the grandson of Erling Persson, the founder of the huge H&M fashion retailer, has invested through his family office, CSB Capital, in carwash platform Woshapp.
Bengtsson co-invested with Inbox Capital, the private investment office/venture group of the Wattin family. John Wattin, who founded and sold various IT companies, set up Inbox in 1985; it’s now run by his son, Martin Wattin.
Also investing in the unspecified round were Bonnier Ventures, the corporate venture group of family-owned Swedish publishing group Bonnier, which is owned by the Bonnier family, and Norrsken Foundation, a venture incubator set up by Niklas Adalberth, the co-founder of Klarna, one of Europe’s biggest payment providers.
The four investors committed SEK30 million ($3.1 million) to the Stockholm-based group. This is on top of $1.1 million in earlier funding from the Norrsken Foundation.
Woshapp describes itself as a carwash in an app, which enables users to call up carwashers to clean cars anywhere they’re are parked, or at least within most central locations in Sweden.