Too Good to Go, the world’s largest B2C marketplace for surplus food, has landed an investment of €25.7 million, led by growth venture capital fund blisce/ who participated with an investment of €12.7 million. The fresh funds will go toward expanding Too Good To Go’s operations, notably in the US market where 40% of edible food is wasted.
Founded in 2015 and now present in 15 countries, Too Good To Go saves more than 100,000 meals every day by connecting consumers with restaurants and grocery stores in their local communities through its dedicated mobile app.
With consumers flocking en masse toward sustainable brands, Too Good To Go, with its win-win-win solution for consumers, business owners and the planet, is well positioned to further scale and reach ever more users looking to align their values with their purchasing decisions.
Too Good To Go launched in New York and Boston in 2020, and has been downloaded more than 29 million times, helping its users to save more than 55 million meals. More than 50,000 businesses use the platform to sell their surplus food, including Carrefour, Costa, Tim Hortons, 7-Eleven, Lidl, Netto, and Morrisons.
“We at blisce/ are committed to backing mission-driven entrepreneurs, and this partnership with Too Good To Go is the latest example. We are thrilled to be the first VC fund to join Too Good To Go’s incredible story, a company whose ethos we share,” stated Alexandre Mars, Founder & CEO of blisce/. “From the outset, its team has shown an impressive singular vision: that it is possible to embed social impact within the business model and generate impressive results while making a difference for people and the planet.”
Mette Lykke, CEO at Too Good To Go, added: “There is a growing understanding amongst VCs and investors of the impact that can be made through funding a mission-driven company. blisce/ demonstrated this from the moment they approached us, and we are confident as a company that we can continue prioritising values and impact as we work together. Global food waste is a challenge that requires many solutions. As a company we will continue to rise to this complicated challenge and make a positive impact on the issue in 2021. We will be using this investment to support the rapid growth of our US operation and will continue to work with our partners across Europe, where we’re saving tens of thousands of meals through our app every day.”