Lunchr grabs $34 million for its corporate lunch card – TechCrunch

Fundings and Exits


French startup Lunchr is raising a $34 million funding round (€30 million) from Index Ventures, with existing investors Daphni, Idinvest and Kima Ventures also participating. The company raised $13 million 7 months ago (€11 million).

In France, companies of a certain size have to support employees in one way or another when it comes to their lunch break. Big companies usually build out a cafeteria while small companies hand out meal vouchers.

Lunchr focuses on meal vouchers. Originally, employees received paper vouchers at the beginning of each month. But meal voucher companies, such as Edenred or Sodexo, now also provide an alternative to paper vouchers. You can get a payment card to pay some or all of your food using a card reader.

While this is a a good idea on paper, many restaurants and supermarkets still don’t accept meal voucher cards, as they must update their card terminals. Apps also don’t work that, well so it’s hard to know if you have money left on your account.

Lunchr wants to provide a better experience. And it starts with a card that works in more places. Restaurants don’t need to do anything as long as they already accept paper meal vouchers. Lunchr currently supports 200,000 places in France.

The company also takes advantage of the fact that a company is going to switch everyone to Lunchr, not just some employees. It means that everyone has a Lunchr account, the Lunchr app and a Lunchr card.

That’s why you can also use the Lunchr app to order food around your office. Other employees can add stuff to your order and one employee can pick up the order for everyone. Lunchr has negotiated discounts with restaurants — you unlock discounts on big orders. On average, people who order food via the app get an 18 percent discount.

With today’s funding round, the company wants to attract 200,000 by the end of 2019. Redbull in France, LeLynx.fr, Spotify in France, Qonto and Payfit use Lunchr already.

While Lunchr is competing with bigger companies, 85 percent of meal vouchers in France are still paper vouchers. Companies will consider switching to payment cards in the coming years and it presents a big opportunity for Lunchr.



Source link

Products You May Like

Articles You May Like

Le Wagon launches part-time coding bootcamps – TechCrunch
Samsung Galaxy Fold review: future shock – TechCrunch
Facebook reserves $3B for FTC fine, but keeps growing with 2.38B users in Q1 – TechCrunch
N26 opens tech hub in Vienna with a focus on security – TechCrunch
From lab-grown meat to fermented fungus, here’s what corporate food VCs are serving up – TechCrunch

Leave a Reply

Your email address will not be published. Required fields are marked *