We successfully closed our series B EUR 20m financing round, welcoming JS Capital, Ranpak, Schusterman Family Investments, Soros Capital and the EIC Fund as new shareholders. Our early investor eCAPITAL also co-invested in this financing round.
We use a patented process to produce graspap, our raw material required for producing grasspaper, which helps to reduce CO2 emissions and water consumption in the global paper & packaging industry. We have already developed and placed CO2-saving grasspaper products like hygienic papers, food & carrying bags as well as single-use plastic replacements with retail clients in Germany, Switzerland, Austria, the Netherlands and Italy, thereby rapidly expanding our reach throughout Europe.
“This EUR 20m series B is a quantum leap for creapaper. Welcoming global ecological game changers like Ranpak and JS Capital among our shareholders will add value way beyond money and will enable us to accelerate our growth and to prepare for our global expansion.” said Michael Schatzschneider, CFO of creapaper.
“Ranpak’s strategic investment in creapaper reflects our continued commitment to sustainability and the use of natural substrates to reduce plastic waste and carbon emissions,” said Omar Asali, Chairman and Chief Executive Officer of Ranpak. “Creapaper’s innovative grasspaper products are primed for expansion across global markets and complements Ranpak’s core paper products and sustainable packaging solutions. Working with creapaper will advance our mission to replace plastic packaging with sustainable alternatives by expanding Ranpak’s eco-friendly solution set and paper SKUs for our growing customer base.”
“With the new highly reputed investors from the USA and the EIC Fund this Series B is extraordinary in terms of its strategic fit for creapaper. After winning the EIC Accelerator Program 2020 among over 4,200 competitors from all over Europe, this funding round is fundamental for creapaper’s vision of reducing CO2 emissions and avoiding further plastic waste on a global scale.” says Willi Mannheims, Managing Partner at eCAPITAL entrepreneurial Partners.
