Romanian startup bonapp.eco announced a seed investment of €800,000 from a group of investors led by Up (formerly named Chèque-Déjeuner). The other investors are Romanian VCs Roca X and Early Game Ventures, as well as Hungary-based Impact Ventures.
The main goal of bonapp.eco is to combat food waste and since its launch just two months ago, the company has had a major success. The mobile app, available on iOS and Android, connects users with local food retailers, including grocery stores, restaurants, gas stations, bakeries, coffee shops, and hotels. Through the app, users can purchase food that is approaching its expiration date, at a discount of up to 80%.
“At bonapp.eco, we intend to transform the environmental, economic and social challenges caused by food waste into a sustainable business opportunity to the benefit of everyone,“ said Grégoire Vigroux, co-founder of bonapp.eco. „We are thrilled to welcome four highly-reputed investors that share our eco-friendly values, as well as our startup mindset. With their support, we are on course to reach our target, which is to affiliate 5,000 locations and sell 30 million meals by 2023.”
For the past two months, the app has been downloaded by 10,000 users and as of today, the startup has saved over 1,000 meals from being wasted, with an average selling price of €5. Among the 100 partners who have joined bonapp.eco’s network in Bucharest are Accor, Cora, foodpanda, PENNY Romania, Starbucks and Up (formerly Chèque-Déjeuner), with further partnerships due to be announced in Q1 2022.
“Consumers nowadays are becoming increasingly focused on the small actions they can take to improve the sustainability of their households. As a company focused on supporting Romanians’ daily lives, we are excited to invest in the bonapp.eco team as we are strongly aligned with the company’s responsible consumption mission,“ added Elena Pap, Regional Director at Up Group.
With the funding, bonapp.eco will deploy substantial sales and marketing efforts to expand to other Romanian cities in the coming months, starting with Cluj, Timisoara, and Iasi, as well as other countries in Eastern Europe. The company will hire a sales team as well as City Managers in each new city where it launches.