The Norwegian technology company Sharefox helps companies to offer circular value chains through its rental services platform. Now the company is raising money to upscale internationally.
“We believe that, going forward, companies will have to offer circular product services in order to continue to be competitive and relevant to their customers. We see that young consumers in particular choose to rent products whenever possible,” says Åsgeir Helland, CEO and founder of Sharefox.
The technology the company has developed has been used by Jernia, Bergans and Felleskjøpet, among others. From a strong foothold in the Nordic market, the company is now looking towards opportunities globally.
TD Veen has led the way with Sharefox raising in excess of NOK 20 million. Also on the team is an investor group that has operational experience from growth companies.
“It’s important to us to work with talented people who offer a scalable product relevant to customers all over the world. Going forward, we believe that discerning consumers and governments alike will expect companies not to depend on a business model built on selling as much as possible without thinking about the entire lifespan of the product. We believe that a circular economy is a prerequisite for sustainable consumption and production,” says Jens Erich Jenssen, investment manager at TD Veen.
Jenssen will also join the board and will work closely with the entrepreneurial team together with the other investors.
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