Investment company Nouvago Capital is backing the start-up company Foodflow, whose digital solutions look set to transform an entire industry
Foodflow has launched the product Stockfiller, which automates and streamlines grocery stores and the hotel, restaurant and café industry's stock ordering processes by pooling and simplifying trading with all suppliers not handled by the major chains' central warehouses. Externally-ordered stock is estimated to make up 20-30% of all grocery sector sales in Sweden; orders that have been dealt with by phone, mail or fax. All order placement, invoicing, delivery and follow-up of external suppliers are now done via the digital platform Stockfiller instead, which simplifies communication, reduces administration and displays increased transparency for all parts of the supply chain. For the majority of active suppliers, the system cuts down administrative work by more than 70% – time that can be put to better use in increasing sales instead. Today, more than 340 grocery stores and supermarkets use Stockfiller; an increase of over 100 since June 2017.
”We find it appealing to invest in a company that has the potential to transform an industry. Digitisation is something we are truly passionate about, as it creates opportunities and truly makes things easier for entrepreneurs. The fact that new stores and producers are starting to use us every day is true testament to the real strength and usefulness of the company's product," says Frank Bonn, CEO of Nouvago Capital AB.
”I have chosen to invest in Foodflow because it's an interesting technical platform that is very simple to use and hugely beneficial to many industries. It's a great solution for customers and suppliers alike. Setting it up is quick and cost-effective," says investor Patrik Rees.
”Stockfiller means that traders avoid the hassle of making individual phone calls to and keeping tabs on hundreds of external suppliers. Instead, our aim has been to pool all of them in one place, which makes it easier and efficient to place orders and thus facilitates improved continuity of stock ordering processes overall. You can now do everything with a couple of simple mouse clicks and because Stockfiller interfaces directly with the suppliers' own systems, it translates into a massive timesaving for all involved," according to Jesper Jannesson and Christopher Jonsson, the founders of Foodflow.