Circular economy leader secures €110 million in scale up funding led by Verdane
Summary
As well as improving flexibility and cost efficiency for landlords and business owners, NORNORM helps its customers significantly reduce their environmental impact by moving to a circular model that extends the lifecycle of office furniture by 3x.With the additional support from Verdane, the company will use the funding round as a launchpad for further global expansion. Were excited to see such a strong response from customers NORNORM are creating a new normal that clearly resonates with forward-thinking business leaders, said Erik Osmundsen, Partner at Verdane.Drawing upon Verdanes international network as well as its deep expertise in high-growth and tech-enabled B2B businesses, NORNORM will be able to scale into new markets and increase its digital and sustainability capabilities, helping to contribute to tackling the furniture waste generated by existing, linear models. As well as their strong focus on sustainability, Verdane differentiates themselves as a value-add investor, with a team of over 30 in-house operational experts dedicated to working closely with portfolio companies to support their growth.NORNORM provides businesses with attractive workplace furniture solutions based on a subscription model. The concept is built on circularity, where every piece of furniture is kept in a loop from one workspace to the next, and every product is carefully maintained and refurbished to extend its lifespan. Verdanes team of over 130 investment professionals and operating experts, based out of Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.