Dryft, Swedish tech enabled full-service provider for home improvement and maintenance, is bankrupt

This news was covered on August 14, 2024 in the daily PRO newsletter.

Dryft, a Stockholm-based tech enabled full-service provider for home improvement and maintenance, has been declared bankrupt, according to public Swedish company data.

In November 2023, the Swedish startup entered a corporate restructuring process, following the withdrawal of an expected term sheet by an undisclosed VC – from which the company ultimately did not manage to recover.

Dryft was founded in 2020 by Daniel Lindgren and Johannes Ivarsson, and has registered slightly over SEK60M in total equity funding with Bolagsverket (sourced via Eivora), raised from a large number of angel and private investors.

For 2023, Dryft reported net revenue of SEK 103.6 million, and a loss of -SEK 48.8 million.