Fighting food waste: Romanian startup Bonapp.eco seeks EUR 275,000 financing on Seedblink

Romanian startup Bonapp.eco, which has developed an app that connects users with local grocery stores, restaurants, gas stations, bakeries, coffee shops and hotels in its mission to reduce food waste, seeks to raise EUR 275,000 through an equity crowdfunding campaign on Seedblink.

“Bonapp.eco’s founders are raising EUR 275,000, based on a pre-money valuation of EUR 3.3 million. Minimum ticket per investor is EUR 2,500,” co-founder Grégoire Vigroux announced in a LinkedIn post.

The startup previously raised EUR 800,000 in January 2022 from French group Up, Romanian VC funds ROCA X and Early Game Ventures, and from Hungary-based Impact Ventures.

“Thanks to the pre-seed extension through Seedblink, Bonapp.eco will be on track to get to profitability in Q4 2023 and reach EUR 1 million ARR (Annual Recurring Revenue) in 2024,” Grégoire Vigroux said.

Bonapp.eco addresses the alarming problems of food waste and high inflation on food products by connecting users with various partner retailers and offering major discounts for products approaching their expiration dates. Through the app, users can purchase food at a 50%-80% discount.

In 15 months since its launch, Bonapp.eco’s mobile app has been downloaded by 100,000 users.

The company reached a GMV (Gross Merchandise Value) of EUR 26,000 and affiliated over 700 partners in retail in Bucharest and Cluj, including blue chip retailers Accor, Cora, Glovo, La Doi Pasi, Penny Romania and Starbucks. Further partnerships are to be announced soon.

Serial entrepreneur Grégoire Vigroux is also a shareholder of the company that owns the Romania-Insider.com website.

(Photo source:Grégoire Vigrouxon LinkedIn)