Takestock

Takestock is a digital market place for the food industry – like a specialist eBay. Around £1bn of food waste is landfilled every year in the UK food manufacturing & distribution industry. We know that a lot of this has value but the disaggregation of scale within the industry leaves stock in the wrong place and time. Coupled with the effort of disposal, this inertia leads to a great opportunity for a marketplace to enable easy trade.

We set up takestock to do just that and launched Beta in November 2014. Since then we have signed up some of the biggest names in the food industry and have 1300+ companies registered and active on Takestock.

Our model is pure brokerage – we don’t buy stock or take legal title. We charge 15% of the transaction value and thus far this appears to be very sustainable as our selling customers are usually planning to give away their unwanted stock so any net value is an upside to them.

We see the model as a quad win – sellers, buyers, environment and us.

We completed a funding round in Sept 2015 and raised for 4 VC funds both seed and Series A at the same time. Our immediate focus is continuing to scale within the food industry only. As you might expect this is a network effect play and as we scale, the knowledge we are building about customers allows us to leverage big data and make the customer engagement more relevant and real time.

We are currently UK focused & by the end of 2017 we expect to have opened up in at least one other market and we are in dialogue now with some potential partners in Canada, Australia and the US.

Takestock is a commercial entity and our primary focus is to enable our customers to maximise the value of the food surplus they have. We strongly encourage them to donate this if and when commercial options have been exhausted.

We are positioning ourselves to manufacturers as a 1 stop shop for commercial and donation solutions. The majority of our customers are seeking financial recovery of some level but once exhausted, they would rather see the food re purposed and given to the needy than land filled.

We do not directly trade to the public but increasingly we are working with food banks, charities & social enterprises who will provide meals from the food we manage to end consumers. Many of these consumers are at the bottom 10% of the economic spectrum and rely heavily on the support services to gain access to food.

In our core capacity we aim to reduce food waste which further reduces the carbon print food manufacturing has.

We recently enabled a charity to collect 25,000 fish portions and distribute these to 4000 low income families in Manchester for eg. https://www.businessgreen.com/bg/interview/3015541/could-an-ebay-for-food-waste-save-businesses-up-to-gbp1bn-a-year

Takestock Impact Report