HelloFresh

During the first quarter of 2019, meal delivery service HelloFresh saw a strong increase in both its number of customers (+ 32 %) and its turnover (+ 42 %). However, the company is still struggling to become profitable.

Even though HelloFresh had promised to be out of the red before the end of the year, the meal box provider now chooses new investments over achieving that result. Strong results make the company go for a further American growth.

HelloFresh’ turnover last year grew 52 %, bringing it closer to profitability. The German meal box delivery service believes it will become profitable before the end of the year.

Mealbox delivery service HelloFresh’ share on the Frankfurt stock exchange managed to hold firm on its first day, hovering around 10.5 euro.

In the first half of 2017, meal box delivery service HelloFresh has seen both its turnover and its losses grow significantly. This gives mixed messages in the preparation of its IPO, which is planned this fall to create room for more investments.

HelloFresh meal boxes were only available online, with several pop-up store exceptions, but now the company entered an agreement with supermarket chain Sainsbury’s. Soon, its meal boxes will be sold in Sainsbury’s’ entire store network.

HelloFresh has received another 85 million euro in fresh funds from an unknown investor and Baillie Gifford, who had previously invested in the company. In exchange, Rocket Internet lowered its own stake from 56 % to 53 %.