After completing its first year of operations in Spain, agri-food company Bene Bono has just closed a financing round in which it has raised 10 million euros. Since February 2023, the company has expanded to 92 Spanish cities, and will now use part of that capital to continue its expansion in Spain, with the focus mainly on Seville and Malaga.

Bene Bono came into being as a result of an aim to bring to the market organic and imperfect fruit and vegetables that usually ended up in landfill due to their appearance. Their service, which they describe as sustainable food, sells products at cheaper prices and does at the same time help farmers and manufacturers to enhance the value of their products.

Perfect consumer conditions
According to estimates by the French startup, 1.6 billion tonnes of food are lost or wasted every year. Since its creation in 2020, it claims to have sold 2,600 tonnes of products directly to consumers that did not conform to aesthetic or logistics standards, but which were in perfect condition for consumption.

The financing round was led by AXA Venture Partners and also involved 2050 and long-term investors such as Stride VC and Project A. The capital will be used to boost commercial activities in the French market and to continue its expansion in Spain. The company will also hire new talent for strategic positions and expand its product range, which will reach 1,000 items by the end of the year, and with a private label that already has seven products.

Reducing the environmental footprint
Another part of the investment will go towards implementing reusable bags and boxes and making deliveries with electric vehicles and bicycles, as well as other actions aimed at reducing the company’s environmental footprint. It will in addition develop new functionalities to reach more customers and optimise its logistics processes.

In addition to local and seasonal fruit and vegetables, Bene Bono provides over 500 general food items at discounts of up to 40% off the usual price. The company thus claims that its customers have saved an average of 200 euros in their first year in Spain. To complete its offer, the brand collaborates with more than 400 organic farmers and 150 manufacturers.

^{Photo: Bene Bono}