E594 | EUCVC Summit 2025: Hermann Haraldsson, Boozt: Scaling a Nordic E-commerce Powerhouse & Lessons for Corporate Venturing

In this EUCVC Summit Talks episode, Hermann Haraldsson, CEO of Boozt, unpacks the journey of taking a Nordic e-commerce scale-up from scrappy beginnings to a billion-dollar listed company. He discusses Boozt’s playbook for customer trust, operational discipline, and balancing growth with profitability. Hermann reflects on how corporate partnerships can (and can’t) accelerate scale, why governance is critical earlier than founders think, and how AI and sustainability are reshaping retail.Whether you’re a corporate VC, startup founder, or institutional investor, this is a candid look at the realities of building Europe’s digital champions.🎧 Here’s what’s covered00:30 – Boozt Journey: Founded in 2011, IPO in Stockholm (2017), dual listing in Copenhagen (2020). Once the most valuable e-commerce company in the Nordics.01:30 – Culture From Day One: Three pillars: trust, freedom, and responsibility — built on Nordic values. Hiring the right people and giving them space to grow.02:30 – The “Care Why” Culture: From “know what” to “know why” to “care why.” How Boozt tests for true ownership mindset (like picking up trash in the warehouse).03:30 – Scaling Culture: How to keep startup mentality when growing from 5 to 500 people. Inspiration from Bain’s Founder’s Mentality framework.04:30 – Founder’s Mentality in Action: Key principles: skin in the game, challenging industry wisdom, and obsessively reducing friction for customers and staff.06:00 – IPO as a Turning Point: Why going public didn’t mean “growing up” — compliance is outsourced, while startup culture is doubled down.07:00 – Staying a Startup Post-IPO: Hermann’s role shift: from “machinist greasing the wheels” to communicator of values, frontline obsession, and owner mindset.08:00 – Don’t Fear Compliance: Investors buy into the startup spirit, not the corporate bureaucracy. Compliance is license to operate, not a competitive advantage.09:00 – Closing Lesson: An IPO doesn’t have to make you corporate — if you focus on what matters, your company’s immune system will fight bureaucracy, not innovation.

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