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Sweden’s wealthiest families/entrepreneurs co-invest in disruptor

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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. 

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