The world’s #1 app to fight food waste and the transatlantic growth VC fund Blisce partner to reinforce Too Good To Go’s impact and ambitious U.S. expansion plans
[New York, NY & Paris, France: January 7, 2021]
Too Good To Go, the tech-for-good company powering the world’s #1 app for fighting food waste to create a greener planet, and the growth VC fund blisce/ today announced their partnership to grow the social impact company’s operations and save more meals from being thrown away. With an already impressive track record in Europe, Too Good To Go has recently set its sights on its largest market yet, the U.S., where 40 percent of the food supply goes to waste, representing approximately 133 billion pounds and $161 billion worth of food[1].
As part of its global strategy, Too Good To Go raised $31.1 million, of which blisce/ invested $15.4 million. The partnership between To Good To Go and blisce/ is also based on a story of shared values. Both entities are certified B Corporations and committed to embedding purpose into their business models. For blisce/, the fact that Too Good To Go measures the number of meals saved as a main KPI demonstrates the centrality of the company’s mission.
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 prioritizing 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.”
“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.”
Present in 15 countries, Too Good To Go has already saved over 50 million meals by connecting consumers with restaurants and grocery stores in their local communities through its dedicated mobile app. Each meal rescued is the CO2e of charging one smartphone fully 422 times. To date, nearly 30 million people and 65,000 businesses have turned to Too Good To Go to fight waste, recuperate costs and lower their carbon footprint. Too Good To Go arrived in the U.S. in September 2020, with New York City and Boston as the two launchpads. In three short months, the app has quickly grown to 150,000 registered users and 600 store partners in New York City, Boston and New Jersey, forming a community who has collectively saved over 50,000 meals, which is equivalent to the carbon footprint of charging a smartphone fully 22,124,876 times.
Too Good To Go made the decision to bring on Blisce as its first VC investor in part because of the transatlantic team’s deep U.S. market expertise and history of helping mission-driven entrepreneurs build global consumer brands and technology companies. With consumers flocking en masse toward sustainable brands[2], both parties are convinced that Too Good To Go’s innovative 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.
[1] U.S. Department of Agriculture Economic Research Service
[2] “Meet the 2020 consumers driving change: Why brands must deliver on omnipresence, agility, and sustainability”. IBM Corporation, June 2020.
