In a significant move set to reshape the European snacking landscape, KoRo, the Berlin-based snack brand, has successfully raised €35 million in a Series C funding round. The financing, led by Coefficient Capital, a New York-based growth equity firm with a track record of investing in high-profile brands like Oatly and Magic Spoon, marks a pivotal moment in KoRo’s growth story. Alongside its lead VC, the funding round attracted continued support from existing investors, including Five Seasons Ventures, HV Capital, Partech, Haub Legacy, and SevenVentures.
This injection of capital arrives as KoRo gears up for its ambitious expansion across key European markets, with a particular focus on France, Italy, and the Benelux region. For KoRo, which has steadily grown its presence since its founding in 2014, the funding is not just a financial boost but a vote of confidence in its innovative approach to snacking. Florian Schwenkert, CEO of KoRo, expressed his enthusiasm about the future: “Thanks to the excellent work of our team, we are well on the way to building an omnichannel love brand with a pan-European presence. Many exciting projects and partnerships are already planned for the coming year.”
KoRo’s growth trajectory has been impressive, bolstered by a clear commitment to transparency, sustainability, and innovation. The company currently employs over 300 people and has built a robust distribution network that places its products in more than 10,000 retail stores across Europe. With a customer base of over two million and B-Corp™ certification secured this year, KoRo has firmly positioned itself as a leader in the healthy snacking space.
This funding round comes at a time when KoRo is poised to hit new heights. The company is on track to achieve over 50% sales growth and reach profitability by 2024—a remarkable milestone in an industry often marked by thin margins and intense competition. Strategic partnerships have played a crucial role in this growth, such as the brand’s collaboration with Dutch retail giant Albert Heijn and its decision to enlist Olympic gold medalist Teddy Riner as a brand ambassador in France. These moves underline KoRo’s ability to combine strategic marketing with a commitment to connecting with consumers in meaningful ways.
The involvement of Coefficient Capital is more than just a financial endorsement; it brings a wealth of expertise in scaling consumer brands. Arpon Ray, Partner at Coefficient Capital, highlighted the reasons behind their investment: “KoRo has a truly differentiated strategy and we believe it has the potential to become a global leader in healthy snacks. The company’s strong growth, commitment to sustainability, digital approach, and innovation in the snack sector set it apart from others.”
KoRo’s ability to seamlessly integrate online and offline channels has also drawn industry attention. This omnichannel approach, which connects digital platforms with physical retail in a cohesive strategy, has been praised as a key driver of the company’s momentum. Toni Petersson, former CEO of Oatly and the newest member of KoRo’s Advisory Board, noted, “KoRo’s omnichannel model is one of the most impressive I have seen in the industry. By seamlessly connecting online and offline experiences, it creates a powerful flywheel effect that drives brand visibility, customer loyalty, and long-term growth.”
As KoRo moves forward, it carries the weight of high expectations but also the momentum of an innovative, forward-thinking strategy. The funding from this latest round will enable the company to deepen its presence in existing markets while making significant inroads into new territories. For consumers, KoRo’s continued growth promises greater access to its diverse range of snacks, while for the industry, it serves as a case study in how to scale sustainably and strategically in the modern marketplace.
With an eye on profitability and further innovation, KoRo is not just expanding its reach but also redefining how snack brands operate in an increasingly competitive European market. The next chapter in its journey promises to be as dynamic and impactful as the steps that have brought it to this pivotal moment.
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