Miinto – Øresund Startups

Miinto raises €20M series D

Karsten Deppert — Sat, 23 Jan 2021 17:35:15 +0000

The company behind the Danish fashion portal Miinto, which acts as an online sales channel for more than 1,800 fashion brands and designers, has reportedly raised a new funding round.

Miinto is in a strong position. The startup reports that they have crossed 1 billion DKK in sales (€ 135 million), and the current marked is good for e-commerce. The latest official numbers report a loss of 47 million DKK (€ 6 million) for the finacial year 2019/2020. Miinto has recently expanded its business in another five countries: Germany, France, the United Kingdom, Italy and Spain.

The investors have invested over € 20 million (149 million DKK) in this round.

“The capital will be used to conquer new markets and even more market shares in the existing countries, where there is still great potential. At the same time, we will scale our tech and product team significantly. Our platform is doing really well, but we believe we can do even better by putting more resources after it. “says Konrad Kierklo, CEO and founder of Miinto, to finans.dk.

The main investor in this round is reported to be Anders Holch Povlsen, the billionaire behind the clothing retailer Bestseller.

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Bestseller-owner buys majority share in fashion platform Miinto

Sofia de Haan — Mon, 21 Nov 2016 20:48:54 +0000

Anders Holch Povlsen, CEO and owner of the international clothes retailer chain Bestseller-Group and one of Denmark’s richest, has done a three-digit million investment in Miinto, reports Ehandel. Miinto is a Danish online platform which hosts hundreds of physical boutiques, providing people with the opportunity to shop locally in an easy way while at the same time giving smaller retail stores a chance to compete with the big chains.

Anders Holch Povlsen has in recent years invested in the majority of e-commerce stores. He has holdings in, among others, Asos and Zalando. Apart from online fashion he has also invested in the Danish food giant network Nemlig.com and the Swedish MatHem.se.

Now, however, this next fashion investment in e-commerce store Miinto becomes part of Anders Holch Povlsens portfolio. The exact amount of money is not made public but in the company’s Swedish press release Miinto announces that it is a three-digit investment in Swedish kronor, which is a double-digit million investment in Euros. Anders Holch Povlsen will thus become the majority shareholder, which the company announced will not affect the concept.

The investment from Anders Holch Povlsen will allow us, to a greater extent, to make consumers aware of our brand and our concept based on local online shopping. It requires that we all are on the same track, and with this investment, we are even more able to provide consumers with an alternative to the international online stores, says founder Konrad Kierklo.

Miinto, founded in 2009, connects products from over 1.000 physical retailers with online fashion shoppers. The platform is available in Sweden, Denmark, Norway and the Netherlands. In all these countries, and perhaps especially Denmark, an increase in competition from abroad is seen. This competition Miinto now wants to curb with its marketplace.

It’s a fantastic day for all of us at Miinto. I am both humble, happy and really proud of Anders Holch Povlsens investment in Miinto. We regard it as recognition that we are doing right and we are very excited about this new chapter that we are starting together, says Konrad.

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Øresund Startups: Top50 and state of the region

Karsten Deppert — Tue, 22 Oct 2013 21:59:17 +0000

Today I held a short lunch seminar on the subject of the most prominent startups in the region. The seminar was held because I was asked to do it, and when I thought about it I realized would be interesting to do. So I did, even if it was with a limited amount of preparations (which I can be accused of, but my main philosophy is: better to do then to don’t). So I did it.

It was held over lunch at CreativeLab, the creative event concept at the SHIP co-working space. Because we have a policy of livecasting whatever we do, you can watch the recording above (Our new Bambuser channel can be found here).

If you want to download the slides, I have made them available on slideshare but there are quite low resolution there, so can be found as pdf here as well.

I am probably describing some of the startups a little bit wrong (sorry for that), and I missed some things in the presentation (corrected in the downloadable versions). But I hope it creates some value for you as the viewer anyway.

Update 1: Some have asked why so many people are walking around and the background noice – the location where the presentation was held is the auditorium in the CreativeLab, called “trappan”, and is just that: the main stairs between the first and second floor. It is designed to be in the middle of the entire place, so that any presentations held there can have drop-in / drop-out flow. A somewhat special enviroment, but I love it, often with a lot of student from Lunds University sitting around in the open areas, and the business and entrepreneurs on the stairs themselves…

Update 2: I should of course list the top 50 startups mentioned as well! Here they are (in the order presented, i.e. in alphabetical order after category):

Series A + B

B2C

Billetto
Miinto
Vivino
WatAGame (GoSupermodel)
Zmags

B2B

Seed level

B2C

B2B

Other prominent startups

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New €76M fund from Dawn Capital to invest in Europe

Kristina — Sun, 14 Jul 2013 12:39:39 +0000

Techcrunch reports that UK VC Dawn Capital has closed on its Dawn Capital II Venture Capital Fund, and is now “hunting for early stage deals” in the UK and rest of Europe. The fund will be focused on Series A investments in the Cloud, Software, Consumer Internet & Platform Infrastructure and Financial Services Technology sectors.

The UK VC has previously invested in Miinto.dk and other key player in the UK and European tech scene. Their investments have typically been in the range of €115,000 to around €5.8M (£100,000 to £5M). Investors in the DCII fund include the European Investment Fund through the UK Future Technologies Fund, and Capital for Enterprise (UK government) through the new VC Catalyst Fund, as well as private individuals.

Dawn Capital has been awarded mandate as a first time fund manager in the in the Enterprise Capital Fund (ECF) by Capital for Enterprise, making it possible to riase a larger fund, say two of the managing partners, Haakon Overli and Norman Fiore. The aim of the firm ‘continues to be the first institutional investment partner of choice for entrepreneurs right from the early stages through to exit.’

Update: an mistake was made in the original headline, stating that the fund was €76k. It is not, and is now corrected to the correct amount €76M.

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Miinto.dk finishes 2012 with positive bottom line

Kristina — Fri, 05 Jul 2013 06:35:55 +0000

Trendsonline says it’s third time lucky for the online retail fashion platform, Miinto.dk, coming out with a positive bottom line in 2012 – their third year of operation.

It was a good year for miinto.dk, from a planned deficit in the millions in 2011, to positive result in 2012. In particular, growth in commissions from online sales went up 388% between 2011 and 2012. Miinto says this result is due to better and better associations with the store over time. Co-founder Konrad Kierklo, is pleased with the result and also emphasizes that it is yet another endorsement of miinto.dk and the whole concept.

‘It is hugely encouraging that we now have black numbers on the bottom line, but it is only a small milestone … we have competed with the big established “normal” fashion webshops with a much smaller margin for each item of clothing sold than them. Now we are out of the fold, so now that run through and growth must be respected.’ Konrad Kierklo, Miinto co-founder.

Following Miinto.dk in 2012, they’ve won various awards including Ernst & Young’s “Entrepreneur of the Year” and two e-commerce awards, one of which was “The best tool for e-commerce”.

‘The prizes are obviously a huge pat on the back – and especially because they recognize our core activities online. But the positive bottom line is the best proof that our strategy of deficit and focus on the market in previous years has worked,’ states Kierklo.

The outlook for 2013 is very promising for Miinto.dk, and they’ve just launched one of their biggest initatives – the new miintoPOS. The POS system designed to synchronize physical stores stock with their online store on miinto.dk, with the launch exceededing all expectations. During 2013, the system is be rolled out in 4 of Miinto’s present markets – Norway, Sweden, the Netherlands and Spain. Trendsonline say miintoPOS reminds them of the system JustEat has also introduced to keep competitors out of the market, suggesting that with Jesper Buch as an owner of Miinto.dk, you can almost only believe that the inspiration came from him.

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Danish startup Miinto.dk receives an e-commerce award in two categories

Iryna — Sat, 25 May 2013 12:03:04 +0000

Danish startup Miinto.dk, a collective of fashion stores, has received an e-commerce prize in categories “Best Marketing Campaign” and “Best Took for E-commerce” reports Trendsonline. The recognition in the both categories means a lot to the team members.

“It will never be ‘old news’ to receive an e-commerce prize,” – says the CEO Konrad Kierklo.

The prize in the “Best Marketing Campaign” category the startup has received for “ImiintoYOU” campagin that was launched in 2012 in collaboration with TV hostess Ibi. The recognition in the second category “Best Took for E-commerce” Miinto.dk has received for its innovative services and tools used by e-traffickers. The award has targeted one of the company’s core businesses – service to the physical boutiques. According to Konrad Keirklo such recognition inspires to build a platform for selling products online and keep up Miinto.dk’s innovative activities in general.

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E-Commerce 2013 Prize Nominees

Kristina — Wed, 01 May 2013 17:00:23 +0000

FDIH (Foreningen for Dansk Internet Handel) the Association of Danish Internet Commerce will be awarding the annual E-Commerce Prize this year on 23 May. FDIH for companies that commercially use the Internet and other digital channels, has awarded the prize since 2000. The annual award celebration crown the best e-commerce companies in different categories. Best B2C Business and Best Startups in E-Commerce Prizes appear again, as well as new categories that reflect changes and take stock of trends in e-commerce world.

The Top 3 nominees in each category have been announced, including Copenhagen startups we’ve been following. Here’s a summary of those nominees to look out for in their respective categories, for the full list check the e-handelsprisen list.

Category 3 – Best new e-commerce company Nominee eBogholderen works in paperless, digital accounting and bookkeeping services. EasyTranslate is a growing professional global network of translators and services.

Category 8 – Growth Prize features Trustpilot, the consumer-review community again appearing as prize nominees, along with their nomination to the Red Herring Europe Top 100 in March.

Category 7 – Best marketing campaign features Miinto, also nominated for Category 10 Best Tool for E-Commerce. We’ve been watching closely these fashion retailers from Denmark who are now hosting sales of over 15,000 brands, and increasing presence and reporting continuous positive results.

Category 10 – Best Tool for E-Commerce nominees along with Miinto, are Komfo and Usertribe. Komfo is an IT and consultancy company, developing websites and services for people to share knowledge and information with each other, mainly helping with customers work with Facebook. Komfo was founded in Copenhagen in 2007, and in early 2010 were accredited as Facebook Preferred Developers. Usertribe provides a service to deliver insights that is used to optimize online stores, websites, mobile websites, mobile apps, designs and campaigns. The Danish crowd based user testing tool came about in 2010 when Thore Fogh Johansen needed an ‘easy to use’ tool to complete his online business optimization tool box.

The ceremony on 23 May 2013, in Falkonérsalen in Frederiksberg to award the best of these will be one of the major events in the industry, celebrating the year’s most successful contemporary e-retailers.

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Rapid growth in sales for online fashion store Miinto

Ischa — Sat, 09 Feb 2013 14:10:19 +0000

In the spring of 2011 the online department store Miinto entered the Swedish online fashion market and quickly reported a turnover of 6M SEK in the first quarter of 2012 with over 200.000 unique visitors a month. During the financial year they continued to show impressive growth figures. In 2012, their revenues grew by an astonishing 188% compared to 2011 which they say is the result of their free shipping policies and a wide range of well-planned marketing efforts.

“We have great expectations with regard to our free shipping policy and we are confident that it will lead to increased revenue for our affiliated stores” says Miinto to eHandel.se

Besides their free shipping policies they seem to differentiate themselves in this highly competitive market by knowing exactly what their customers want. To learn more about how shipping services contribute to their success, be sure to check out their explanation on their website.

“One thing is that consumers are turning more and more towards shopping online, but you have to have the right product range and potential for it to lead to conversion. We have also had a lot of problems with shipping temperature sensitive goods (cold chain) but then found this amazing supplier of thermal covers and other cold chain shipping supplies so that has solved all of our problems”, says Lin Eriksson, Marketing Miinto.se to eHandel.se

Miinto’s growth doesn’t look like a short term boost. In January, where e-commerce firms often experience decreasing sales, Miinto kept seeing positive results. In the end its all about getting the customer to buy something, a process which Miinto seems to manage in a successful way!

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Finalists Nordic startup awards!

Ischa — Sat, 03 Nov 2012 21:17:18 +0000

The finalists of the Nordic Startup Awards are announced and we are glad to hear that 16 of the startups are based in the Øresund region (5 in Sweden and 11 in Denmark). The Nordic Startup Awards is a series of events throughout the Nordics with the aim of lifting the new generation startups to a new level and to show the world the competences of the startup scene in the Nordic region. The winners will be announced on the final event in Copenhagen on December the 7th.

In the best newcomer category (operating less than 12 months) we find the Swedish startup Applika, the Danish Admazely and The Eye Tribe

The Danish Click a Taxi, Riidr, IconFinder and the Swedish Flattr are nominated as best funded startup. This group represents firms which have received professional funding from a VC or professional angel.

In the international category (must have started operations in the Nordics) we find Endomondo, Zendesk and Tradeshift, Zaplox and Kvittar.

Only one startup from our region is nominated as bootstrapper of the year Splitter (received no professional funding), and also the peoples choice award is only represented by Tunaspot, a firm which plays into new developments in the music industry by providing a location based music platform.

Most honorably, Podio and Miinto were nominated for the prestigious Startup of the Year award!

Founders House, Copenhagen School of Entrepreneurship and The Copenhagen Nokia Bridge Incubator are nominated as the best service provider, well deserving the recognition for their help and services to the startup industry. YEoS is also nominated, an organisation for young entrepreneurs which has a strong presence on the Swedish side.

Join the final event on December 7th in Copenhagen to hear the winner announcement, network and to see that the Nordic scene is a leading centre for innovation.

Update 4 nov 10:28 – We missed some companies! Updated with the new information!

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