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June 12, 2023

Foodomarket Raises £9.5M for UK Launch & Atlantic Expansion

French start-up empowers hospitality with a digital marketplace, eyeing UK and US expansion

Foodomarket has secured £9.5 million in funding as it officially launches its innovative B2B digital food marketplace in the UK. With its unique platform connecting food suppliers and the hospitality industry, the French start-up aims to revolutionize the way businesses source quality produce and secure unbeatable deals. Already a success in London, Foodomarket plans to expand its footprint in the US market, marking an exciting new chapter in its journey.

Foodomarket simplifies the food supply chain by providing a convenient platform where suppliers can showcase their offerings, while ensuring secure and efficient payment processes. With the recent Series A funding led by Alven Capital, the company is well-positioned for growth, attracting over 500 restaurants during its 12-month trial period. The recent investment will play a crucial role in fueling Foodomarket's expansion into the Atlantic market.

Eric Nivoix, the co-founder and CEO of Foodomarket, recognizes the significance of this milestone for the company. With a clear vision to challenge conventional norms and empower entrepreneurs and small business owners, the funding obtained by Foodomarket will propel their mission forward.

Foodomarket's success story is built on impressive growth, with a threefold increase in 2022 and an outstanding 92% repeat business rate. Co-founded by Nivoix and Matthieu Boivent, the marketplace offers cost savings of approximately 15% compared to traditional distributors.

Nivoix further emphasizes Foodomarket's unique advantage, stating, "We understand the challenges faced by restaurant owners firsthand. Our platform was designed by industry insiders for industry insiders. Our exceptional performance in France is a testament to our success, and expanding to the UK was a natural progression. We are excited to make an impactful entry into this market."

Rodolphe Menegaux, Partner at Alven, shares his enthusiasm for Foodomarket's business model and the potential it holds. He comments, "We were highly impressed by the strength of Foodomarket's concept and are thrilled to invest in this disruptive B2B marketplace. By digitizing and transforming industry practices, Foodomarket has the potential to become a leading international player, delivering even greater value to its partners and customers."

With Foodomarket's official launch in the UK and its ambitious plans for expansion, the future looks bright for this trailblazing B2B digital food marketplace. Stay tuned as Foodomarket continues to reshape the industry landscape, empowering businesses with a more efficient and cost-effective way to source quality food products.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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