Too Good To Go receives 25 million euros

The Corona pandemic hit the concept of food rescuer Too Good To Go hard, but it still expanded to the US last year. Now the start-up is receiving 25 million euros. For the first time, a venture capitalist is also involved.

In a recent round of financing, the Danish start-up was able to raise 25 million euros. The money will be used primarily for further expansion into the American market. Since last September, the foodsharing start-up's offering has also been available in New York and Boston, but has had to admit to heavy sales losses of over 60 percent due to the Corona pandemic.

In the current round, €12.5 million is coming from fund Blisce alone, which is the first venture capitalist for the startup, according to Techcrunch. So far, mostly corporate affiliates and individuals have invested.

Too Good To Go is familiar to Germans from the show "Die Höhle der Löwen." The app of the same name can be used to pick up food for private use in businesses such as hotels, restaurants or bakeries that would otherwise have to be thrown away. According to the start-up's own information, 4.5 million people have already taken part in Germany, and worldwide there are said to be over 30 million, meaning that over 50 million meals have been saved. In the American market, more than 600 businesses and 150,000 customers have joined in so far. The next location is slated to be New Jersey.