Alven backs Frichti with €1m

Having reportedly processed more than 10,000 food orders over the past three months, Frichti intends to use the funds to reach out to more customers via an increased delivery area.

The business will look to boost its production capacity by expanding its current kitchen facilities, with plans to invest in marketing and new hires for its 20-strong workforce.

Alven is currently investing from its fourth fund, which hit its €120m hard-cap in March 2013 and was more than half invested as of mid-September, according to unquote" data.

Speaking about France's flourishing startup scene in September, Alven partner Guillaume Aubin told unquote" backing startups at the earliest possible stage was part of the firm's strategy to avoid the competition and swelling tickets at later-stage rounds.

At the time, the venture house stated it was aiming to seal three to four new investments before year-end. Since that date, Alven has taken part in a $1.4m seed round for Parisian image monetising service Deepomatic in September and a €7m investment in SaaS specialist Wynd alongside Orange Digital Ventures in October.

Company
Founded by Julia Bijaoui in June 2015, Frichti produces and delivers food menus updated on a daily basis, with the option for a speedier, costlier delivery. The company is headquartered in Paris and is understood to employ 20 staff.

People
The deal was led by partner Jérémy Uzan on behalf of Alven.

Advisers
Equity – Brocard Avocats, François Brocard (Legal).

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• Topics
• France
• Expansion
• Consumer
• France
• Alven Capital