Financing is often a challenge when scaling up. &Repeat is supported by several VC companies and strong business angels. In addition, the company has sought to optimise its mix of financing by including debt financing, which Nordea helps with today.
“Debt financing from Nordea is valuable. Getting access to capital without diluting existing owners is attractive and it’s especially during times like these a financing form that we’re considering,” Tor Espen continues.
For &Repeat, legislation and regulation are important factors for scaling up. And this is where Tor Espen sees progress.
“In most countries across Europe, the supervisory authorities are already working on implementing new laws to reduce disposable packaging waste. This work could potentially move the whole market to new solutions from one day to the next. And for us, it’s about being on the right market at the right time,” says Tor Espen.
Products must be ready before expansion
&Repeat has gained a lot of experience during this process. The biggest challenge has been to enter a new market.
“Although we’ve seen and heard stories from others, it’s quite different to do it yourself. We’ve really learnt the value of our network, the local market and how knowledge about cultural differences can be important for progress,” says Tor Espen.
Tor Espen rounds off by underlining how important it is to have a finished product before you start thinking about expanding.
”Focus on building a strong product before your start thinking too much about expanding. If you expand too early, you will spend a lot more money than needed.”