The price comparison engine for supermarket goods Monsieurdrive.com announced that they’ve raised a 2 million euro round, led by Schibsted Growth and completed by several business angels. According to the terms of the deal Schibsted will reinvest ‘significantly’ based on the Monsieurdrive.com’s growth. Incidentally Schibsted also owns Leboincoin.fr, one of France’s leading price comparison sites for used goods, so this new investment looks to be right in-line with their overall strategy.
Monsieurdrive.com has grown very fast into one of the leaders in France this space having launched less than a year ago in May 2013. While there are other companies both big and small seeking to help consumers identify the best prices on everyday goods, Monsieurdrive.com actually determines and recommends the best store and basket of goods for the consumer based on the amount they want to spend. A reported 30% of French consumers now use this type of method to make their grocery shopping decisions. For the moment, Monsieurdrive.com covers most of the big chains, including E. Leclerc, Auchan, Carrefour, System U, and Intermarche, with Casino and Chronodrive to be added soon now that they’ve closed their latest round.
In addition to adding new outlets, they also plan to use the funding to reinforce their already strong platform and, presumably, they’ll also look to expand their team. No news as to whether they’re planning to expand outside of France (at least in Europe). Although working with fixed retail has a strong local aspect, they do have great partners with an international presence, such as Carrefour and Auchan, so perhaps that will be part of their long-term plan.
In speaking about the investment, Karine Brana President of Monsieurdrive.com adds:
“Our ambition: to enable as many people as possible to improve their grocery shopping. We found in Schibsted the ideal partner: a company resolutely focused on the consumer, with financial means in-line with our ambitions, and obvious synergies with Leboincoin.fr”
Incidentally this deal isn’t the only one of it’s type in the sector. Mysupermarket.com, a similar service to Monsieurdrive.com, raised €10 million a couple of years back with advertising and communications powerhouse WPP.
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