Flashfood raises $12.3m for app that tackles retail food waste
Flashfood, a Toronto-based mobile marketplace providing customers access to discounted food nearing its best by date, has secured $12.3 million in a Series A funding round led by S2G Ventures.
Follow on investment came from ArcTern Ventures and existing backers including General Catalyst, Food Retail Ventures, Rob Gierkink and Alex Moorhead.
S2G Ventures MD and founder of OpenTable, Chuck Templeton, will join the Flashfood board of directors.
“This round of funding will allow us to rapidly work toward a more sustainable food system while giving consumers big discounts on groceries, helping them save money and do good for our planet at the same time,” says Josh Domingues, Founder and CEO, Flashfood.
“This funding comes at a time when Flashfood is needed more than ever. It will fuel our ability to reach more shoppers and partner with sustainability minded grocery chains across America. Every stakeholder is winning in this equation.”
Flashfood can be found in over 1,200 partner stores, including GIANT, Stop & Shop, Giant Food of Maryland, Meijer, Tops, Martin’s Markets, Family Fare, and Loblaw Companies.
“Our mission is to back trailblazing entrepreneurs working to build a healthier and more sustainable food system and we’ve seen how Flashfood can help deliver on this vision,” says Chuck Templeton, MD at S2G.
“Through innovation, it has created a simple way for retailers and consumers to help put a dent in the food waste crisis in a way that creates value for everyone, the retailer, shoppers and the planet.”
“We’re very excited to support the app as they scale their business in the US and beyond.”
