Hygglo AB

Hygglo AB operates a peer-to-peer rental platform that connects individuals for renting a wide range of items, promoting access over ownership and facilitating a circular economy in Sweden and beyond. Founded in 2016 in Stockholm, Sweden, Hygglo AB specializes in peer-to-peer rentals, allowing users to rent out and access various items. The company raised SEK 7. 5 million in Seed funding in November 2017 from investors including Norrsken VC, Rävberget Venture Capital AB, and Schibsted Growth.

The founders, Axel Hellström and Henrik Fräsén, aim to revolutionize the rental market. Hygglo operates a peer-to-peer rental platform that facilitates the renting of various items, ranging from construction equipment to leisure products, allowing users to both rent out their belongings and rent items from other users. The platform caters to individuals looking to access goods without the burden of ownership, promoting a circular economy. Key offerings include categories such as film and photo equipment, cleaning machines, construction scaffolding, trailers, and even specialized items like ozonators and high-pressure washers.

This service meets the needs of both casual users requiring items for short-term use and those needing tools and equipment for larger projects. Hygglo primarily serves customers in Sweden, with plans to extend its services to Denmark, Finland, and Norway, responding to the growing demand for accessible rental solutions across the Nordic region. Hygglo generates revenue through transaction fees associated with rental agreements facilitated on its platform. When a customer rents an item, a percentage of the rental fee is collected as a service charge by Hygglo.

In 2023, the company reported revenue of SEK 947. 2 mn and an EBITDA of SEK 1,905. 5 mn. This structure not only creates a direct revenue stream but also encourages a wide range of transactions between individuals, enhancing community engagement.

Specific flagship items such as construction scaffolding and high-pressure washers are popular choices among users, highlighting the diverse inventory available on the platform. Hygglo AB plans to leverage its recent Seed funding of SEK 7. 5 million raised in November 2017 to enhance its platform and expand into new markets. The company is currently focusing on launching additional product categories and enhancing its user experience.

Future efforts will also include expanding its services to Denmark, Finland, and Norway to meet the growing demand for rental solutions in the Nordic region.