Foodomarket investment from Alven

Online B2B Food Marketplace raises 11 million euros to expand in UK and US

Venture capital Growth capital 2023, June

E-commerce & retail

“This is a major moment in Foodomarket’s evolution. When we set out, our aim was to mend a broken, outdated system and generate opportunity for entrepreneurs and small business owners. The funding announced today goes a long way towards helping us achieve those goals. We’ve had first-hand experience of launching and running restaurants, so we know the problems these business owners face day to day. Foodomarket was built by restaurant owners, for restaurant owners. Our impressive performance in France shows we’re doing something right and launching our offering in the UK was the logical next step. We can’t wait to hit the ground running.”

Eric Nivoix, co-founder & CEO of Foodomarket

Foodomarket, the digital B2B food marketplace for the hospitality industry, has raised €11 million in a Series A funding round. The round was led by Alven Capital, a leading European venture capital firm that has supported other successful marketplace businesses including Ankorstore, Meero, and OpenClassrooms.

Foodomarket is an open and transparent online marketplace where any seller who meets rigorous standards can list their produce. Buyers can then make decisions based on quality and price in one easy-to-use system. Foodomarket handles and guarantees payments for suppliers.

Buying through Foodomarket’s platform is typically 15% cheaper than via traditional distributors. The platform also gives sellers access to a large pool of potential buyers which lowers the risk of stranded assets and food waste.

The new funding will be used to support the company's official UK launch, including expansion out of London as well as the first elements of expansion in the US. The company also plans to use the funds to roll out its new app and website, and to expand its teams in local markets to provide customers with a tailored experience.

Co-founders Eric Nivoix and Matthieu Boivent have been working together for over a decade in digital services, building up several B2B marketplaces in different industries. Combined, they have more than 20 years of relevant industry experience.