Home-delivered groceries has been exploding in popularity in the past few years. With lots of companies in the Nordics joining the trend. But one company that stands out is Matsmart. With the goal of reducing food waste and salvaging food that is close to or past its expiration date, the company’s business idea has been a hit. Though, with success comes even higher demands. And to support these, Matsmart needed a partner that would grow with them.
In 2013, the Matsmart founders had a great business idea. But while they had different backgrounds within food, tech, sales and media, which is impressive to say the least, they were inexperienced when it came to e-commerce. They needed a stable partner that could help them get started and realise their potential. Familiar with the online payments brand, they reached out to Klarna.
When approaching Klarna, what the founders were looking for was a partner that provided a simple solution, enabling them to focus on what they were good at. A company that solved the payments part in an easy way and that people recognised and trusted. Klarna Checkout, the full-service solution offering all popular payment methods per local market through one single integration, matched their needs.
After a smooth integration process, business quickly got going. As Matsmart saw orders increase, they reverted to Klarna to discuss how to proceed. Reassessing the company’s needs and seeing the potential to grow together, the partnership tightened and Matsmart and Klarna worked closely together to optimize every part of the customer buying experience and checkout conversion.
Since 2013, Matsmart has seen a consistently positive growth, with business steadily at least doubling. Three years in, the YOY growth was 121%. While it certainly can’t be attributed to one single factor, the founders’ decision to outsource and partner with experts such as Klarna from the beginning has played an important part in their success. The full-service aspect of Klarna Checkout in itself alleviated the pressure of finding various vendors to sort out the different aspects of providing a payment method in an online store. And the reassurance of having a dedicated person on hand to help them with an aspect of their business they didn’t master themselves was key.
The tight partnership with Klarna has also led to increased exposure to other retailers in the Klarna network, allowing for knowledge-sharing, best practices and planting seeds for future collaborations. Facing further expansion into the other Nordic markets, Matsmart feels like it has a genuine partner in Klarna and that it’s well prepared to make the next move on its journey to reducing food waste.
“In the beginning, we were definitely looking for a partner that could help us out with a part of the business that we were unfamiliar with. Payments can be a jungle, so we needed someone we could trust that could take care of that aspect. Our Key Account Manager at Klarna has been with us every step of the way and the relationship has provided important insights into our business as well as opened up many doors for future collaborations. Partnering with Klarna from the start turns out to have been a strategically brilliant move.” says Karl Andersson, co-founder and CEO of Matsmart.
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