Saltz Raises €20 Million to Expand European Operations
Saltz, a digital marketplace based in Vilnius, Lithuania, has successfully raised €20 million in a Series A funding round. This round was led by the European Bank for Reconstruction and Development (EBRD) and included participation from investors such as Inovo, Lifeline Ventures, Change Ventures, and notable angel investors like Mantas Mikuckas, Miki Kuusi, and executives from Shopify.
Company Overview
Founded by Andrius Slimas, Reinis Strodahs, and Tomas Slimas, Saltz is transforming the food supply industry by connecting professional kitchens directly with verified suppliers. The platform offers a streamlined digital interface for catalogues, ordering, payments, and logistics, replacing traditional manual processes that many restaurants and suppliers still rely on.
Strategic Use of Funds
The €20 million funding will be used to expand Saltz's operations across Europe. The company plans to enhance its technology for cross-border food trade and increase its workforce by over 100 employees by the end of 2026. Saltz is also focused on onboarding more suppliers and developing infrastructure to support scalable international food distribution.
Market and Expansion Plans
Saltz currently operates in 20 countries, providing chefs with access to a wide range of fresh and frozen products, including meat, seafood, and vegetables. The company aims to broaden its reach by entering additional European markets and further integrating sustainability initiatives in its operations.
Saltz's founders, who have previously built global B2B marketplace products at Oberlo and Shopify, are leveraging their expertise to address inefficiencies in the food distribution sector. "We just raised €20 million to accelerate Saltz expansion across Europe and build toward a truly global food marketplace," noted the founders.
Investor Insights
The funding round's lead investor, EBRD, along with other backers, is supporting Saltz's vision of creating a unified and transparent digital platform for food procurement. This latest investment underscores the confidence in Saltz's ability to innovate and lead in the digital marketplace space.
By streamlining the food supply chain, Saltz is not only enhancing operational efficiency for suppliers and restaurants but also paving the way for more sustainable food distribution practices across Europe.