It seems like Paris fundraising rounds are getting bigger by the quarter – Algolia’s crushing $2.8M Seed Round, Blablacar’s monster $100 Million round, and now, Rude Baguette has learned, On-Demand marketplace TokTokTok is working on closing a round upwards of $20 Million. After hiring Carrefour’s former CFO to lead the company earlier this year, the startup is looking to go global, fast – and in order to do that, the Carrefour CFO, along with other investors, will be raising the necessary capital to attack other major cities around the world.
The startup, compared to the US PostMates, allows users to order anything, any time – similar to Uber, TokTokTok & Postmates manage a fleet of ‘runners’ (bicycylists, rollerbladers, or Segway-drivers, even) who receive your request and go purchase what you want from wherever they can.
TokTokTok runs on two modesl – a Cashback model, where they make deals with restaurants and other retail chains that allow them to pick things up without paying and then pay them on a monthly basis, and a direct payment method. It would seem that TokTokTok’s stats are going through the roof – how else could they seduce the CFO of a company known for its ability to scale logistics, supply & demand? – with some reports saying the company’s growth is growing at 60% week over week, with the company potentially making 100s of deliveries per day.
For now, TokTokTok hasn’t made any of their figures public – co-founder Serge Alleyne denied to comment when reached out to – however, keep a close eye on a company that is looking to do for delivery what Uber did for transport.