Too Good To Go receives 25 million euros

The coronavirus pandemic has hit the Too Good To Go food rescue concept hard, but it still expanded into the USA last year. The start-up is now receiving 25 million euros. A venture capitalist is also involved for the first time.

In a recent financing round, the Danish start-up was able to raise 25 million euros. The money will primarily be used for further expansion into the American market. The food sharing start-up has also been available in New York and Boston since last September, but had to admit to a sharp drop in sales of over 60% due to the coronavirus pandemic.

In the current round, €12.5 million alone is coming from the Blisce fund, which, according to Techcrunch, is the first venture capitalist for the start-up. So far, investments have mainly come from company employees and private individuals.

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