Fiksuruoka, the fast growing technology and e-commerce company that reduces food waste by selling surplus groceries through its online store at high discounts, has raised 19 million euros to accelerate international expansion to Europe. Innovestor participated in the round with a follow-on investment along with the rounds new lead investor Verdane and joined by the company’s previous backers.
Read the press release here (in Finnish)
”Fiksuruoka’s team has been able to execute exceptionally well during these trying times, coming out on the other side bigger and stronger, with revenues tripling last year. We look forward to continue supporting Fiksuruoka’s ambitious growth targets and compelling mission as they set their sights on international markets”, comments Innovestor’s CEO Wilhelm Lindholm.
Fiksuruoka started its operations from a garage, and in only four years the company has increased its turnover to 12 million euros, helped more than 300 Finnish companies minimize their food waste and saved their customers money and the environment. In total, Fiksuruoka has already reduced food waste in Finland by more than four million kilos. The company also wants to be involved in halving food waste by 2030 in line with the EU’s goals.
Fiksuruoka’s operations combine several megatrends such as: The digitalization of groceries and taking responsibility through reducing waste. The companies CEO Juhani Järvensivu also sees that Fiksuruoka has strong competitive advantages:
“We are an extremely data-driven company. We utilize data and analytics comprehensively in our customer experience and e-commerce development, as well as in for example purchasing, pricing and digital marketing”, says Järvensivu.
The company’s growth can also be seen in their headcount and is currently recruiting new employees in Finland. At the moment they employ 21 people in Finland and have also been able to create a successful company culture. The company won second place in Finland’s Best Place to Work 2021 competition in the under 20 employee company category.
“Our goal is to find about 15 new colleagues in Finland before the summer. We are currently recruiting for all our teams: purchasing, marketing, e-commerce development, analytics and customer service,” continues Järvensivu.
In the media:
Picture by Fiksuruoka