The annual report for 2022 has been published today March 31, 2023, and is now available on our website www.flatcapital.com and as an attached document. You can also read all financial reports on the following link: https://www.flatcapital.com/en/investor-relations/ For further information...
Flat Capital AB (publ) ("Flat") has divested all its shares in Global-e, with an approx. value of SEK 4.8 million, generating a total profit of SEK 15.9 million for the initial investment in Flow Commerce ("Flow") and a return of approx. 10.4x, corresponding to an annual return (IRR) of +6,800%, since Flat's IPO in 2021
Flat Capital AB (publ) ("Flat") publishes its year-end report for January-December 2022 where the net asset value (NAV) per share corresponds to SEK 10.81, which represents a decrease of -9.6% for the full year or -4.0% for the quarter. This should be seen in the light of the fact that both Flat and the portfolio companies have experienced significant events, both positive and negative, during the year. Due to continued negative developments in the capital markets in H2-2022, it was decided to apply an additional market adjustment of -20% to certain holdings. The market adjustment was applied on the one hand to those holdings that raised capital in Q2-2022, and thus were not adjusted in that period, and on the other hand to those holdings whose comparable listed peers and relevant indices were deemed to exceed the previous market adjustment of -30% applied in H1-2022. Flat now enters the new year with a strong portfolio of entrepreneur-driven companies in leading positions that are well capitalized, capable of taking them to profitability. This, combined with Flat’s own cash position, means that we are well-positioned for the year ahead and we aim to take advantage of the investment opportunities that we are confident will arise in 2023
Flat Capital AB (publ) ("Flat") is investing approximately SEK 5.4 million in DeepL, a German-based AI company that aims to eliminate language barriers worldwide using artificial intelligence (“AI”). DeepL offers multilingual automatic translation through its platform using AI neural machine learning that can be used via web browser, mobile app, browser extension or through integrated API. DeepL monetizes primarily on enterprise customers and by upgrading users. Other investors in DeepL include reputable players such as IVP, Atomico and Benchmark
Board member Nina Siemiatkowski has announced her intention to leave the Board at her own request at the end of 2022 due to time constraints resulting from her commitment as founder and CEO of Milkywire AB ("Milkywire")