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Colvin raises €45 million Series C led by Eurazeo to disrupt the comfort flower industry

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There is something interesting going on with supply chains, and it has been for a while. But it is clear that the epidemic has precipitated that trend. Tech startups are once again start to shed the middle man, but this time at the supply chain level. The opportunity is to replace supply chains with platforms – it’s a “supply chain platform” if you will.

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The most recent example is Colvin, a platform for the ‘floristry’ industry, which has now raised €45 million Series C led by Eurazeo, a private equity and venture capital firm from France that has invested in other markets such as Farfetch, Glovo or ManoMano. Capagro, AgTech and FoodTech VC from France also participated.

Launched as a direct-to-consumer brand (which it still maintains), Colvin has now created a B2B category for professionals.

“2020 has been a year of Colvin acceleration, a turning point that will define the pace of our growth over the coming years…Our goal at Colvin is to lead the industry’s transformation on a global scale,” said Serge Bastardas, Co-Founder of Colvin.

Chloe Giard, chief investment officer at Eurazeo, said: “Colvin’s path into the flower delivery market has been shocking. They have proven that they can grow quickly and profitably, while expanding into unused geographies. This is only a first step in their ambition to build the coming of the flower industry: As more and more B2B categories shift online (see recent announcements from Ankorstore, Choco or Sender), the timing is unique to bring a unused standard to the flower wholesale market. Colvin is leveraging years of industry experience, a scalable supply chain, and a global network of trusted growers to apprehend this billion-dollar market opportunity. “

“The Netherlands has a monopoly on the flower and plant market,” Bastardas told me over a phone call. “Nearly 65% ​​of all flowers and plants in the world have to pass, physically, through a vast auction that takes place in Holland, no matter where they are grown. This is because the industry is not digital This is the problem we have been solving: connecting stakeholders in a more direct way.”

He said they started by connecting farmers with customers to a b2c platform: “We are now starting to build our own b2b solution, connecting our farmers, as well as wholesalers directly to retailers, and avoiding unnecessary middlemen, with technology.”

I asked him if he would perturb the industry: “The brokers will be mad at us, yes.”


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