Saltz.app Secures €20M Series A to Revolutionize Restaurant Ingredient Sourcing
Lithuanian fresh products marketplace Saltz.app has secured €20 million in a Series A funding round to expand its digital marketplace across Europe and streamline ingredient sourcing for professional kitchens. The funding will fuel workforce growth and platform development, positioning Saltz.app as a key player in the modernization of the European food supply chain.
From Dropshipping to Disrupting Food Distribution
Founded in 2022 by Tomas Šlimas, Andrius Šlimas, and Reinis Strodahs, Saltz.app emerged from the founders’ experience with identifying inefficiencies in existing systems. Andrius and Tomas Šlimas previously sold their dropshipping platform, Oberlo, to Shopify in 2017 1. Recognizing the challenges restaurants faced in procuring ingredients, they partnered with Reinis Strodahs, a veteran with two decades of experience in European restaurant logistics, to create a solution.
Addressing Fragmentation and Opacity in the Food Supply Chain
The traditional food procurement process for restaurants often involves multiple distributors, opaque pricing, and cumbersome ordering methods. Saltz.app aims to solve these issues by providing a single platform that connects chefs directly with verified food suppliers. This streamlined approach offers transparent pricing, cross-border ordering capabilities, and eliminates unnecessary middlemen 1.
Key Features and Benefits of the Saltz.app Platform
- Consolidated Supplier Catalogues: Access a wide range of products from various suppliers in one place.
- Simplified Ordering: A single interface for managing all ingredient orders.
- Transparent Pricing: Clear and consistent pricing information for informed decision-making.
- Efficient Logistics: Optimized delivery processes to ensure freshness and minimize environmental impact.
Investment Details and Backer Confidence
The €20 million Series A round included participation from the European Bank for Reconstruction and Development (EBRD), Inovo, Lifeline Ventures, and Change Ventures. Strategic angel investors also contributed, including Mantas Mikuckas, co-founder and former COO of Vinted, and Miki Kuusi, co-founder and CEO of Wolt 1. Former Shopify executives also participated, demonstrating confidence in the founding team’s ability to execute their vision.
Expansion Plans and Future Growth
Saltz.app plans to use the new capital to expand into additional European markets, deepen its product and engineering capabilities, and grow its team by over 100 employees by the complete of 2026, focusing on engineering, product, sales, and operations 1. The company currently serves customers across five European countries, including global hotel and restaurant chains like Hilton, Marriott, and others.
Sustainability Initiatives
Saltz.app is committed to sustainability by ensuring products are delivered with minimal environmental impact and supporting carbon removal projects in manufacturing, construction, and agriculture 1.
Related reading