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 covered
00:30 – 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.
You can listen Hermann Haraldsson’s full talk from the EUCVC Summit 2025 on Apple Podcasts and Spotify.
✍️ Show Notes
Boozt’s Growth Playbook
Early pivot from failure into focused e-commerce strategy.
Discipline and governance from the start: operating like a public company years before the IPO.
Competing with Zalando by leaning on local knowledge, superior logistics, and customer-centric service.
IPO & Transparency
Going public forced operational rigor and a culture of accountability.
Investors reward transparency even in tough times.
Corporate Partnerships
Alignment is key: successful collaborations happen when incentives are shared.
Warning: corporates can slow down innovation if governance clashes with founder speed.
Sustainability & AI
ESG reporting not as box-ticking but as a competitive edge.
Practical AI applications already rolled out: personalization, supply chain optimization, and customer service.
Takeaways for Corporates & CVCs
Don’t underestimate founder resilience, but governance needs to be in place earlier than most think.
Corporates can add value — but only if they respect entrepreneurial speed.
Europe’s tech champions are built on discipline, not hype.
💡 One-liner takeaway:
Hermann Haraldsson proves that building a European digital champion is about discipline, transparency, and trust — and that corporates can play a role if they lean in with alignment and speed.
