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FUDEAT

Fudeat

Invest from €500

  • 92.25% completed
  • Invested €479,722
  • Goal €520,000
  • 92.25% completed
  • 36 Investors
Invest in less than 5 min.

Understanding the investment opportunity

Fudeat is the Marketplace specialised in corporate catering (B2B).

It connects companies (clients) with the best caterers and restaurants (suppliers) through its platform. With a 360 digital service, they cover all the gastronomic needs inside and outside the office for companies and their employees thanks to a virtual management tool, free and 100% customisable.

They work with two lines of service:

  • Service to companies: Catering for meetings or events, fruit and snacks for the office, gourmet gift boxes or the complete management of an event outside the office (space, catering, extras...).
  • Employee service: Virtual Canteen (daily menus for employees with no minimum orders or transport costs).

Its keys to growth have been:

  • Digitalising the contracting of catering and daily menus to offer both clients and suppliers total control of each order.
  • Creating a Corporate Account for its customers to manage all the information (orders / invoices / users) on the same platform.
  • A Customer Service team that is close, responsive and with very short response and service times.

For all these reasons, today, they are the leading digital platform in Spain for gastronomic services to companies by turnover (GMV) and this is partly thanks to:

  • The added value that they know that gastronomy has in bringing teams and companies together.
  • The importance they have given, from the beginning, to the development and implementation of a digital and centralised management and control tool for companies.

INVESTMENT STAGE

EARLY

MARKET

  • foodteh
  • B2B

OFFICIAL WEBPAGE

VIDEOS

Fudeat Team

Alicia de Mendizabal CCO
Alicia de Mendizabal
CCO

Borja Boada CEO
Borja Boada
CEO

Sergio Cobos CTO
Sergio Cobos
CTO

Reasons to invest View more data

  • They have focused on an emerging niche market within food delivery that the big platforms are not yet paying attention to. With a market size of 3.1 billion euros (Spain and Portugal) and a CAGR (compound annual growth rate) of around 11% by 2025.
  • In 2021 they achieved an Annual GMV of €1.6M (+38.17% vs 2020) and Gross Margin of 17.71% (including delivery costs) and 19.68% excluding delivery costs. This represented a revenue growth in absolute terms of +54.40% vs 2020.
  • The GMV for June 2022 was €445,396.31 (+27% growth vs. previous month and +199% growth vs. June 2021). With a gross margin of 18.91% and a Revenue of €84,225.61 (+39% growth vs. previous month and +241% growth vs. June 2021). Likewise, from January 2022 to June 2022 they have an accumulated GMV of 1,619,708.79 € (+193% growth vs. the same period in 2021). They expect to close the year 2022 with a GMV of €3.5M - €3.8M (2.3x 2.5x GMV 2021).
  • In the month of June 2022 they have managed to prove to be one of the few Food delivery companies that is profitable, having achieved a positive net profit.
  • They are developing new service lines - late dinners = late night food delivery for employees who work late - which will allow them to increase their annual GMV by €1.5M and which they can address without increasing their CAC (currently 60% of their customers are companies where their employees work late and have more than 2,500 TIER 1 registered users). This line will allow them to increase service hours by complementing the current lines. The Gross Margin on this service line will be between 20% - 25%.

  • A 100% committed and qualified team, which in 2020 managed to grow the company by 16% vs. the corporate catering sector, which suffered a decrease in turnover of 72%.
  • They have just launched a new platform to further improve the digitisation of processes and gain greater scalability.
  • With a portfolio of more than 600 companies, 250 suppliers and a presence in Madrid, Barcelona, Valencia, Malaga and Seville, they are ready to scale the company and reach a GMV in 2023 of more than €5.5M and €10.5M by 2024.

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    Opportunity analysis Last update Oct 25, 2022 5:33:56 PM

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