Romanian investment platform ROCA, which focuses on restructuring and developing distressed companies, has bought a 30% stake in the company that operates the Yellow.Menu food delivery application.
The application, designed for the premium catering niche, was launched four years ago by Romanian entrepreneurs Florin Stoian, the founder of Star Taxi and Mondo Taxi, together with Iulian-Dumitru Velenza, one of the founders of the World Class fitness network in Romania. ROCA’s investment in Yellow.Menu amounts to EUR 300,000.
The Yellow.Menu application has been conceived as a food delivery service for the medium and premium segments, with a limited operating program, with the main target being corporate employees, who could order various dishes prepared by different chefs. The app has reached 10,000 active users since launch. However, the company recorded losses that reached RON 428,000 (EUR 95,000) in 2017 and RON 192,000 (EUR 40,000) in 2018 while the turnover has stagnated around RON 2.7 million (EUR 590,000) per year.
After ROCA joined as an investor, Yello.Menu plans to open a new location in Cluj-Napoca.
(Photo source: Pixabay.com)
The investment and management platform ROCA, launched by the CITR Group, took over an 18% stake in chemical producer...