Fresho is an online shopping experience that is specifically tailored for the fast-paced, business to business industry, directly connecting restaurants and suppliers. It aims to make food supply chains more sustainable by providing buyers with live prices and specials and ensuring stock levels are managed more efficiently with less wastage.
Fresho currently has over 38,000 food service venues utilising its software across New Zealand, Australia, the United Kingdom and the United States. The platform processes around NZ$1.32 billion annually.
A recent capital raise of $14 million will allow the company to expand its growth into the United Kingdom and the United States.
“The capital raised will enable us to accelerate Fresho’s growth in the United Kingdom and a strong launch into the United States. Like our other markets, restaurants and suppliers in the US are itching to be more progressive but are still working with antiquated processes." Said Sarah Rumbold, Fresho New Zealand Director.
Fresho has attracted funding from new and existing investors for its expansion. Investments from venture-capital firm Capital Zed, Andrew Sypkes (who was an early-stage investor in Canva, Aconex and Redbubble), Second Quarter Ventures (Australia’s leading secondaries fund) and Salta Capital will help implement the leading-edge technology.
“The Fresho platform has dramatically improved our ordering processes by making them scalable and delivered significant cost efficiencies by removing data entry, double handling, and human error. We’ve even picked up some new clients as a result of the onboarding team’s efforts. It’s been a game-changer for our business.” Said William Eriksen from Neat Meat, a leading Kiwi food supplier.