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In 2026, Stockholm-based Hygglo acquired London-based competitor Fat Llama for $41.5 million, establishing the combined entity as the world's largest peer-to-peer (P2P) rental platform across Europe and the US. Hygglo enables individuals to rent out personal items and diverse equipment without ownership, fostering sustainable lifestyles. Founded in 2016 by Ola Degerfors, Axel Hellström, and Henrik Fräsén, the platform operates a marketplace connecting renters and lenders. Backed by notable investors including Schibsted, Norrsken, Atomico, and Y Combinator, Hygglo has raised $4.33 million in total funding, including a $900,000 round about five years ago. Post-acquisition, Fat Llama co-founders Chaz Englander and Rosie Dallas retained seats on Hygglo's board, integrating their expertise into the expanded global operation.
Hygglo has raised $1.3M across 2 funding rounds.
Hygglo has raised $1.3M in total across 2 funding rounds.
Hygglo has raised $1.3M across 2 funding rounds. Most recently, it raised $890K Seed in October 2017.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 1, 2017 | $890K Seed | — | J12 Ventures | Announced |
| Mar 1, 2017 | $370K Series U | — | Bonnier Ventures, J12 Ventures, Lars Thunell | Announced |
Hygglo has raised $1.3M in total across 2 funding rounds.
Hygglo's investors include J12 Ventures, Bonnier Ventures, Lars Thunell.
Hygglo is Europe's leading peer-to-peer rental platform, enabling users to rent out underutilized items like tools, cameras, outdoor gear, and electronics, rather than buying new ones[1][3]. It serves individuals across Europe, particularly in the Nordics (Sweden, Norway, Finland) and the UK, solving the problems of overconsumption, waste, and high ownership costs by promoting a sharing economy model where listing is free, payments are handled securely, and rentals are protected by the Hygglo Guarantee[1][3]. The company has demonstrated growth momentum through its 2022 acquisition of Fat Llama, the UK's largest peer-to-peer rental platform, expanding its reach while maintaining a focus on sustainability—research estimates 18 tons of annual CO2 savings in a Stockholm neighborhood via reduced purchases[1][3].
Hygglo was founded in Stockholm in 2016 by Ola Degerfors, Henrik Fräsén, and Axel Hellström, who envisioned a platform to maximize item usage and reduce environmental waste[1][2]. Starting as a local startup, it rapidly became the Nordic region's largest rental marketplace, with early traction driven by its simple peer-to-peer model covering over 1,000 item categories[1][3]. A pivotal moment came in 2022 with the acquisition of Fat Llama, unifying the platforms under the Hygglo brand and accelerating European expansion; today, it employs around 22 people and processes daily rentals continent-wide[1][2].
Hygglo rides the wave of the sharing economy and circular economy trends, capitalizing on rising consumer demand for sustainable alternatives amid climate concerns and economic pressures[1][3]. Its timing aligns with post-pandemic shifts toward access-over-ownership, amplified by urban density and e-commerce growth, where platforms like Hygglo reduce new production needs and support degrowth strategies like awareness-raising and exchange facilitation[3]. Market forces favoring it include regulatory pushes for sustainability (e.g., EU circular economy goals) and tech advancements in mobile payments/verification; by influencing habits—one rental at a time—it contributes to broader ecosystem changes, such as neighborhood-level emissions cuts and inspiring similar P2P models[1][3].
Hygglo is poised for continued European dominance in peer-to-peer rentals, potentially expanding categories (e.g., vehicles, EVs) and geographies while deepening tech integrations like AI matching or blockchain verification. Trends like stricter emissions regulations and Gen Z's sustainability preferences will propel growth, evolving its influence from Nordic leader to pan-European sustainability enabler—reinforcing its core belief that things should be used, not hoarded[1][3].
