Too Good To Go, which enables the food to go to the trash can at a cheaper price, received an investment of 31.1 million dollars in the investment tour led by blisce /.
The social enterprise Too Good To Go, which allows customers to connect with restaurants and markets so that they can buy food to go to the trash can at a cheaper price, received an investment of 31.1 million dollars in the investment tour led by blisce /. With the new investment, the company will go to expand its performance and scale its global operations in the US market, where 40 percent of mostly edible food is wasted.
Through Too Good To Go’s mobile app, it can connect with restaurants and grocery stores in local communities, thus avoiding more than 100,000 food junk every day. It has been operating in many European countries for several years and runs a market that focuses on food waste. On the one hand, restaurants, markets, bakeries and other food businesses contribute to excess foodstuffs. On the other hand, consumers use food just before it becomes unsold.
This turns into a gain for everyone, as businesses can earn some income from excess food, customers can buy food at more affordable prices and reduce unnecessary waste. Too Good To Go generates its income by taking commission from every transaction.
Too Good To Go now operates in 15 countries and the initiative explains that it has saved 50 million meals so far. To date, 65 thousand businesses have sold something in Too Good To Go. 30 million people signed up for the service.