The start-up mattress retailer said the cash injection would allow it to expand in Canada and ChinaAn American private equity firm has acquired a stake in Simba Sleep, the loss-making “bed in a box” online mattress retailer. Cartesian Capital invested $24 million in debt and equity to acquire an undisclosed share of Simba. Simba, based in London, said the cash injection would allow it to expand in Canada and China. The once hyped start-up endured a troubled 2019 as its valuation collapsed and a planned merger with a rival was abandoned. Simba, launched in 2016, is one of a number of companies trying to gain market share in Europe’s mattress market by selling online and delivering affordable mattresses to customers in a compact box.

Source: The Times January 03, 2020 00:00 UTC