- - France's leading dark store, which delivers more than 17,000 fresh and everyday products, is thus taking a further step forward to expand its offer throughout France in 2022.
- - This funding will enable La Belle Vie to strengthen its leadership position and accelerate its Quick Commerce solution called Bam Courses.
- - This Series B round is led by the prestigious international funds Left Lane (US) and Quadrille Capital, as well as the historical investor, Capagro.
Paris, December 15, 2021 - La Belle Vie, France's largest grocery shopping and fresh food delivery service, raises €25 million in Series B round - led by Left Lane and Quadrille Capital, totaling more than €42 million since its inception. Funds and investors from previous rounds, including Capagro, are also participating in this round, underscoring their trust in the company.
Founded in 2015 by Paul Lê and Alban Wienkoop, La Belle Vie has built its success and growth on a selection of fresh and everyday products, which was at the time completely unprecedented in this sector. The French leader in grocery delivery offers more than 17,000 products, including 4,000 fresh products, delivered between 1 and 3 hours throughout the Ile de France. This feat was made possible by its proprietary supply chain solution, its partnership with Système U and its seven Parisian warehouses.
Thanks to the profitability of its model, La Belle Vie already has 500 employees and makes more than 15,000 deliveries a week.
La Belle Vie has completed a first round of €5.5 million in 2018 and then a second of €11.6 million in 2020. It is now carrying out a new round with two funds with international scope: Quadrille Capital and Left lane, both specialized in technology investments in the United States, Europe and China.
"I am very proud of the path Alban and I have taken. Since day one, we have been obsessed with profitability, with extremely tight control of our margins and supply chain, but also with the social aspect, with the employment of over 600 people on permanent contracts. La Belle Vie is a wonderful human adventure and we are thrilled to be supported in our growth by international and French investors that are as prestigious as they are experienced." comments Paul Lê.
More than a grocery delivery service, a unique quick commerce experience
La Belle Vie offers an unparalleled depth of fresh products and everyday items delivered between 1 and 3 hours free of charge throughout the Ile de France, i.e. in 1,300 cities.
It has managed to bring together on its platform the best producers of fruit and vegetables, meat, fish, cold cuts, etc., the equivalent of an online hypermarket... but it also provides an extremely selective panel of independent brands known for their cutting-edge products, such as Epycure, Joone, Maison Sauge, Alain Millat, Goulibeur, Angelina... The offer is constantly expanded and aims to create a new user-experience each time customers visit La Belle Vie.
Launched last September, BAM COURSES, La Belle Vie's new Quick Commerce offer, is capable of delivering more than 2,500 products throughout Paris in 15 minutes thanks to 7 distribution hubs. This solution is already being adopted by thousands of people every day.
"La Belle Vie has gone far beyond its role as a grocery delivery service. With the width of its offer, its ability to reference the best in a multitude of fields and its speed of delivery, La Belle Vie is becoming the best of all retailers combined. They have succeeded where Amazon Retail has failed and that is a huge victory. Paul & Alban have impressed us with their vision and ability to execute and we are very happy to support this French innovative leader in its growth" says Jason Fiedler, Managing Partner at Left Lane.
"Beyond its offering and financial performance, La Belle Vie is a model company for us. Its growth has been totally organic and its entire supply chain is perfectly controlled. But above all, and this is fundamental for us, La Belle Vie is a healthy company that respects its employees. In this respect, it stands out from most of the champions of foodtech.... "Henri de Pérignon, Partner at Quadrille Capital.
About Quadrille Capital
Based in Paris and San Francisco, Quadrille Capital is an independent investment firm focused on technology and healthcare in the US, Europe and China. Quadrille Capital's investment strategy is based on four investment solutions: private equity, commitments to growth equity and venture capital funds, secondary investments in private equity funds and companies, and long-only public equity funds. Quadrille manages nearly €1.3 billion for institutional investors and sophisticated family offices in Europe, the UK, the Americas and the Middle East. Quadrille Technologies IV (2018) is a €511 million program that invests in technology and healthcare on a global scale.
About Left Lane
Left Lane is a leading global venture capital and growth equity firm investing in high-growth internet and consumer technology companies that are fundamental to the lives of customers. The foundation of Left Lane’s strategy is built on four main elements: specialization in internet-first businesses, proprietary sourcing at every level, deep data rigor and best practices, and a genuine philosophy around partnering with founders. Across our network and portfolio, our mission is to help support and scale category-defining companies that support long-term customer relationships, such as GoStudent, M1 Finance, Tovala, FightCamp, Wayflyer, and more.
Capagro is the French leading venture capital fund dedicated to the Food and Ag industries. It was created in 2014 and has 124 M€ under management. Feeding a sustainable planet and maximizing value creation across the entire agri-food chain is its core focus. Capagro has pioneered a sector-based and independent approach that brings out the best of its scientific and business expertise. The fund leverages its unique network of industrial partners, made of key players in the agri-food value chain, to benefit its portfolio companies. Capagro invests to accelerate the development of European FoodTech and AgTech companies and facilitates the adoption of innovative solutions for stakeholders in those sectors. Capagro's team of seasoned investors is unique in combining strong sector expertise with a wide range of international experience.