Kazidomi Raises 6M Euros
● The Belgian company will use the funds to expand its product range, including a private-label line, and workforce.
PARIS — Healthy food and beauty e-commerce platform Kazidomi has raised 6 million euros in a funding round led by Invest for Jobs and FJ Labs.
The Belgian company, cofounded by Alain Etienne and Emna Everard in 2016, sells groceries online.
The business is based on a subscription model, with annual members benefiting from preferential prices, substantially less than at traditional supermarkets.
Kazidomi — which is primarily operational in France and Belgium today but delivers to 15 different countries — retails a curated selection of products: food, hygiene, wellbeing and home-care from numerous brands, including an eponymous label. The more than 3,500 products carried on the platform are validated by health experts and delivered to people’s homes.
Beauty categories represented are hair, lip care, makeup, skin care, fragrance and men. There’s also body care and health, with supplements and aromatherapy included.
Kazidomi has tripled its sales annually over the past four years. It has more than 20,000 members and is expanding to Holland and Germany.
The company will use part of its funds to reinforce its product catalogue, including in the wellbeing space, and its private-label line, which already has 170 stockkeeping units, making up 5 percent of the portfolio. Kazidomi plans to grow its team, as well, which went from 15 to 50 employees in two years.
“Numerous parameters seduced us in the Kazidomi project,” Christophe Picard, senior investment manager at IFJ, said in a statement. “First of all, there is the concept: excellent, with a strong personal history and a very clear vision from Emma and Alain on where they want to be in a few years.
“There is also this clear impression of a united and motivated team around the two cofounders, which conveys strong corporate values, modern and in tune with our times,” he continued. “I also emphasize a governance of rare quality at this stage of a company’s development. Finally, the prospect for job creation obviously weighed heavily in our assessment of the dossier. This constitutes a very healthy cocktail in which we — IFJ — found ourselves and we wished to be able to support over time.”
IFJ is a Belgian investment fund focused on projects with a positive impact on employment.
New York-based FJ Labs investment fund specializes in digital platforms.
A private investor, with retail and finance expertise, entered Kazidomi’s capital in the most recent round of funding, too.