Bibak raised €6 million from Founders Future, Maif Impact, and Blue Ocean fund of Swen Capital Partners. 2CFinance executed financial due diligence of Bibak.
Bibak, founded in 2018 by Yasmine Dahmane and Lucas Graffan, specializes in reusing containers in the restaurant and event sectors, and has developed a 360-degree solution to facilitate the return of containers while adapting to the reality of the field. The platform offered by Bibak allows customers to manage their stocks and refunds for deposits. Each container has an RFID chip that collects different data, such as the number of rotations of reusable dishes or returned deposits.
Since the anti-waste law for a circular economy (AGEC) came into effect on January 1st, commercial restaurants are required to use reusable cutlery for on-site meals. The purpose of this regulation is to change consumption habits by significantly reducing waste.
Bibak's solution not only helps reduce waste but also prevents losses and thefts that large restaurant chains suffer. To encourage consumers to return containers, Bibak has implemented a gaming system. "When customers return their dishes, they can win an ice cream or coffee. And sometimes even tickets for a concert or festival," says Bibak.
With consumers increasingly concerned about the ecological transition and restaurateurs required to comply with regulations under penalty of sanctions, Bibak has already attracted more than 200 customers such as Quick, Burger King, Compass Group, and Sodexo.
This fundraising will enable Bibak to strengthen its commercial service and recruit new talent. The startup also aims to become a leader in France and internationally by investing in innovation.
Founders Future is a venture capital firm that invests in early-stage startups. It was founded in 2016 by Marc Menasé and is based in Paris, France.
Maif Impact is the impact investment arm of the French insurance company MAIF. It invests in startups that tackle social and environmental issues.
Blue Ocean is a private equity firm that invests in growth capital and buyouts. It was founded in 2008 and is based in Paris, France.
2CFinance is a financial advisory firm that provides due diligence, M&A, and corporate finance services to businesses.
In total, Bibak has raised €9.3 million to date.
