Idinvest, Alven in €12m round for Frichti

The two institutional investors were joined by business angels Pierre Valade, Céline Lazorthes and Céline Orjub. Alven had already injected €1m into the Parisian food production and delivery business in November last year to support its growth plans.

This latest round marks a sizeable amount of funding for a company that was established less than a year ago. Frichti will use the fresh capital to accelerate the deployment of its service in Paris with more meal choices, delivery schedules and targeted areas. It will also aim to launch in additional cities in France. To that aim, the company will look to recruit an extra 100 staff in the coming months.

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 last year, according to unquote" data.

Company
Founded by Julia Bijaoui in June 2015, Frichti produces and delivers food menus updated on a daily basis, with ingredients sourced directly from the producers. According to the company, a complete three-course meal costs between €8-12, including delivery.

Frichti is headquartered in Paris and is understood to currently employ around 100 staff. It claims that its service has attracted several thousand customers since launch last year.

People
Idinvest Partners – Pierre-Edouard Berion (investment director).
Alven Capital – Jeremy Uzan (partner).

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• Topics
• Expansion
• France
• Consumer
• France
• Venture
• IDInvest Partners (AGF Private Equity)
• Alven Capital