Algrano disintermediates the coffee supply chain, cutting out the traditional intermediary and enabling growers and roasters to trade directly. On the Algrano platform, coffee producers offer their coffee beans directly to coffee roasters. This way, the value chain of coffee trading becomes more efficient and at the same time transparent.
Last year the startup Algrano experienced steep growth with customers from 11 European countries. It was also named an official partner of Fairtrade. “The successful product scale-up from bag orders into steady flows of container volumes revealed the potential of digitization for the coffee supply chain. With intelligence for growers and roasters, the company has created efficiencies for its customers and itself in pre-buying and post-buying operations”, said Raphael Studer, co-founder of Algrano.
Algrano closed has now completed its Series A round with CHF2 million, oversubscribed by 30%. The proceeds will be used to double its business and software development teams to drive forward the digitization of coffee trading. In addition to the equity investments, Algrano is expanding its value proposition for growers and roasters in partnerships with a pension fund and a foundation. These will guide it in developing financial services around coffee buying and selling.
Moreover, the company has welcomed three new members to its board; Mario Fontana, chairman of Swissquote, Adriaan Nühn, former Chairman of the Management Board of Sara Lee/Douwe Egberts and Chairman takeaway.com, as well as and Fabio Magagna, serial entrepreneur and Product Manager at Google. The three join David Rosenberg, founder UTZ certified and Pascal Mathis, founder GetYourGuide. Together they will support the startup in building a solid business with their coffee and technology know-how.