For several years now, the Danish food app, Too Good To Go, has been operating in Spain. Also in various parts of the planet. Since its foundation in 2015, the startup to avoid wasting food has endeared itself to users. Now, with their 2021 data, they have already made it clear that their eco-frindly and sustainability model is in fashion.
Globally, the Danish startup points out that it has saved a total of 52,554,009 food packs from being wasted. Or what is the same: enough to feed a person for more than 142,000 years. In Spain, which occupies 5% of its total turnover, more than 3 million food packs have been saved last year.
How has a food company – that does not use home delivery or riders – succeed? The Too Good to Go equation is simple. On the one hand, they point to a time when ecological sensitivity is at its peak. They also appeal to the issue of food waste by large stores and establishments. For some time, and as a point of social alarm, a solution to all this waste has been sought. Few had achieved that point. However, To Good to Go has achieved success by being able to channel all this waste through an application and with products at reduced prices: this is precisely one of the milestones that most attracts the attention of users. Between 2 and 5 euros is the average price. The perfect equation for the planet and for the pockets.
However, the company wants to continue its expansion. According to Mette Lykke, CEO of Too Good To Go, the next point is to continue expanding agreements with establishments. Its growth depends on this factor: more large surfaces –they are the ones that waste the most–, more customers. Also to expand the capillarity of your business. Although the city centers have a great commercial offer, extending the agreements to the entire city would mean an exponential growth of your business. To date, Too Good To Go had already closed deals with some big companies. Carrefour or Alcampo among them. Now he is preparing more agreements to continue expanding his business.
Too Good to Go plans to grow to 50 brands and 5 million users in the next few years. It is, for them, a business objective and also an ecosystem objective. With this growth they want to reduce 50% of food waste in the next 10 years. Or at least reduce that 40% of total food waste that is produced today. Not only with large surfaces, but also in restaurants close to the user.
The business model of sustainability, on the other hand, is also capturing the attention of investors. Too Good To Go has already conquered the funds three times. The last one in 2021 with its 31 million dollars in financing from Blisce, a fund based in the United States. The record in their history that their addition to the 12 million raised in 2018 and 2019. However, it was their last operation that helped them make the leap to the next level: the United States and Canada. Present for 3 years, it has been this 2022 (with the antecedent of 2021) when they have achieved the most records. Now they have more than 2 million users in the North American country and with the idea of conquering the region with their zero waste model.
