“We are super happy to get the backing from a renowned investor such as GP Bullhound. With their support we feel confident that we now can take Tiptapp to the next level and prepare the business for growing outside of Sweden.“ said Tim Bjelkstam, Co-founder and CEO.

GP Bullhound has been following the team for over a year and has been impressed by the passion and sophistication with which they built their business.

“We are excited to support the Tiptapp team who have built a fantastic and unique customer experience. We look forward to continuing to build our relationship with Tiptapp and helping them realize their long term vision.” commented Robert Ahldin, Chief Investment Officer and Partner at GP Bullhound.

Enquiries
For enquiries, please contact Robert Ahldin, Partner: robert.ahldin@gpbullhound.com

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com, or follow on Twitter @GPBullhound.

About GP Bullhound Asset Management
GP Bullhound Asset Management is the firm’s independent investment arm. It currently manages four funds, investing in high-potential and fast growing technology businesses, from early stage to pre-IPO.

Quixel develops tools for 3D artists, primarily in the video game and film industries. The company’s main product is Megascans, the world’s largest and fastest growing library of scanned 3D objects and materials. The funds raised will be used to accelerate the growth of the library and build an ecosystem of time-saving creative tools around Megascans.

The company’s founders, CEO Teddy Bergsman and COO Waqar Azim, remain majority owners of the company.

One of the first users of Megascans objects and materials was MPC, the production company behind Disney’s The Jungle Book, which used an early version of the library to create the film’s Oscar-winning 3D environments. Since then, Megascans has been used in blockbuster films such as Pacific Rim: Uprising (Double Negative) and Justice League (MPC), as well as in AAA games such as Monster Hunter: World (Capcom) and Shadow of the Colossus (Bluepoint Games).

Teddy Bergsman: “When we founded Quixel we had a vision of a future where game environments would become completely photorealistic and where a majority of films would rely entirely on computer-generated environments. This future would be characterized by high-quality 3D scanning.

We have therefore developed our own hardware and software and established a scanning team all over the world who worked for several years to create the world’s largest library of objects and materials.

The production of The Jungle Book was at the cutting edge of 3D cinema production, with not a single camera shot taken outside of MPC’s studio in Los Angeles. It proved to work perfectly with our technology.

We anticipate that the gaming, film, advertising, and architectural industries will all converge towards using standardized workflows to create their content, and we want to offer all the tools needed for artists to create photorealistic environments with simplicity.”

Joakim Dal, Partner at GP Bullhound Asset Management, Investment Advisor to GP Bullhound Fund IV: “Teddy is a brilliant example of today’s entrepreneur, an expert in his field even before he turned 30. Together with Waqar, he has built a fantastic company with some of the world’s largest users of 3D material. We think it’s very exciting to collaborate with Quixel and contribute to their continued growth.”

Enquiries:
Joakim Dal, Partner: +46 734 41 23 65, joakim.dal@gpbullhound.com

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com, or follow on Twitter @GPBullhound.

About GP Bullhound Asset Management
GP Bullhound Asset Management is the firm’s independent investment arm. It currently manages four funds, investing in high-potential and fast growing technology businesses, from early stage to pre-IPO.

Company Name: Seventy

Website: www.seventyagency.com

Geography: Sweden and China

Incorporation year: 2012

Matsmart sells surplus goods and occasional stock, that otherwise would have contributed to huge food waste, a growing problem in the western world today. In the US, over 40 percent of the food produced never gets consumed and Americans throw away $165 billion worth of food every year, roughly 20 pounds per person every month. That’s enough waste to fill 730 football stadiums annually.

Matsmart has grown rapidly since its inception in 2013 and expects sales of 20 to 30 million in 2015. In the last one and a half years, Matsmart has so far saved more than 500 tons of food from being thrown away. Instead it has been sold at up to 90% discount of retail prices, to conscious consumers all over Sweden.

The funds in this round will be used to accelerate the company’s expansion in Sweden and abroad, in a €200Bn European discount food market, one of the fastest growing segments of food retail today.

Robert Ahldin, Partner and Chief Investment Officer at GP Bullhound commented: “We are very proud to make this investment in Matsmart, a company that has demonstrated that today’s consumers not only shop with their wallet but also with their hearts.”

Enquiries
For any enquiry, please contact Robert Ahldin, Partner and Chief Investment Officer, at robert.ahldin@gpbullhound.com.

About GP Bullhound Sidecar
GP Bullhound Sidecar is the independent investment arm of GP Bullhound, with a co-investment strategy focusing on European Tech companies. GP Bullhound Sidecar is currently managing three funds which mainly include investments in category leading companies but also in early stage and unicorn companies. Sidecar has co-invested with Accel Partners, TCV, Scottish Equity Partners, Northzone, Creandum and many others in companies such as Spotify, Fjord, Klarna and Mathem. Thanks to GP Bullhound’s well-known and highly respected brand in the tech community, the firm’s local presence and its extensive global contact network, the Sidecar funds benefit from a massive deal flow and the ability to team up with first class investors to co-invest in the best companies, with the support ofan experienced, disciplined and expert team of bankers and board members. For more information, please visit www.gpbullhound.com/investments/

Company Name: KnC Group AB

Website: www.kncminer.com

Incorporation year: 2013

Geography: Sweden

Company and Industry in brief: The company processes Bitcoin transactions at one of the lowest cost levels in the industry.
Bitcoin is a peer-to-peer payment system based on an open-source software enabling payments without an intermediary. Transactions are verified by Bitcoin miners and recorded in a public ledger called the blockchain. For this service, Bitcoin miners, like KnC, earn Bitcoin currency rewards and transaction fees.

Enquiries
For enquiries, please contact:
Per Roman, Managing Partner, at per.roman@gpbullhound.com
Joakim Dal, Partner, at joakim.dal@gpbullhound.com

Company Name: Spotify Technology S.A

Website: www.spotify.com

Incorporation year: 2006

Geography: Sweden

Company and Industry in brief: The leading digital music streaming destination globally, available in 58 markets with 1.7Bn inhabitants.
Operates under a freemium model by which basic services are offered to users free of charge but with advertising, with more advanced features and no ads offered through a premium subscription.

Enquiries
For enquiries, please contact:
Per Roman, Managing Partner, at per.roman@gpbullhound.com
Joakim Dal, Partner, at joakim.dal@gpbullhound.com

Company Name: Zound Industries International AB

Website: www.zoundindusries.com

Incorporation year: 2008

Geography: Sweden

Company and Industry in brief: Since founding in 2008, it has grown to +500 MSEK in revenue and gained market share on a huge market on the back of successful partnerships with retailers and telco operators.

Company Name: Klarna Holding AB

Website: www.klarna.com

Incorporation year: 2005

Geography: Sweden

Company and Industry in brief: The Company is the clear market leader in its segment, having both pricing power and sustainable profit margins.

Company Name: MatHem i Sverige AB

Website: www.mathem.se

Incorporation year: 2009

Geography: Sweden

Company and Industry in brief: The company is active in the SEK250Bn Swedish food market. Approximately 10% of that should be approachable by MatHem according to the company.