The Paris-based online meal ordering and delivery platform for companies is raising just over €4 million for its Series A round with Banque des Territoires, Karista, Financière Tuileries and Noveo. It hopes to exceed €10 million in revenues by 2022.
Since September, French investors have been showing a strong interest in corporate catering as seen in the Frenchtech ecosystem. Foodles, a corporate catering service and connected fridges, recently raised €31 million (see below). One of its young competitors, I-Lunch, specialised in online ordering and delivery of meals for companies, created in 2017 by serial entrepreneur Victoria Benhaim, raised just over €4 million for its first round. A series A round in which the Banque des Territoires de la Caisse des Dépôts participated, following a process led by the fundraising consultancy Paris Business Consulting. The Paris Région Venture Fund, managed by Karista, as well as Financière Tuileries, Guy Rico’s family office, and the service company Noveo, which entered directly, complete the package.
10 M€ of targeted revenues in 2022
The 40-Parisian startup offers several digital catering services tailored to different company sizes, such as online delivery of meals for employees on the Btob ordering platform. For large groups, I-lunch offers services such as the creation of catering facilities, on-site cafeterias, in particular to ensure the sale of meals, or the installation of connected fridges. The start-up has 60 clients, including Thales, L’Oréal, Total and Geodis, and expects to generate just under €5 million in revenues in the current financial year. Victoria Benhaim explains about this company: “We operate like a classic corporate restaurant. For each of our clients, we charge them a subscription fee, the amount of which differs according to the offer chosen. In addition, the guest pays directly on the platform or in cafeterias his meal which is partly subsidised by the company”. I-Lunch’s ambition is now to exceed €10 million in sales by 2022, including the opening of its platform in two major cities in France, kept secret for the moment, and the doubling of its workforce. Other projects could be announced in the second half of next year.
The stakeholders of the I-LUNCH operation
Target company: I-LUNCH
Buyer or Investor : BANQUE DES TERRITOIRES, Christophe Genter , KARISTA (EX CAPDECISIF MANAGEMENT), Benjamin Zerbib , Yvan-Michel Ehkirch , FINANCIERE TUILERIES DEVELOPPEMENT, NOVEO GROUP
Law Firm and its corporate lawyers: JOFFE & ASSOCIES, Thomas Saltiel, Johann Mendez
Fund raising Consulting / Agent : PARIS BUSINESS CONSULTING, Noameine Piron