Fish trading start-up in Scotland, Rooser, which seeks to speed up fish sales transactions and reduce waste, received more than US $23 million (£17 million) in funding from investors on April 24, 2022.
The Edinburgh-based online platform for fish dealers has received funding from Index Ventures, Google Ventures, and Point Nine Capital. Its processing staff is based in the northern French fishing town of Boulogne-Sur-Mer.
Every year, almost €140 billion worth of seafood is moved across Europe, with 35,000 distinct sorts of goods passing via a patchwork of 140,000 enterprises. Multiple fisheries, primary processors, wholesalers, and end-users such as restaurants, supermarkets, and fishmongers make up the market.
What the founder has to say:
Joel Watt, co-founder and CEO, said:
“The fish industry is like a massive machine, with all these gears working at breakneck speed. In the long run, what we’re creating should help us better understand and manage global fish supplies, know where our seafood comes from, and ensure that only the highest-quality supply reaches our plates.”
What the investor has to say:
Georgia Stevenson, partner, Index, said:
“The seafood business is massive, but it’s fragmented and mostly untapped.” Rooser promises to make the entire process easier and more efficient for everyone involved in the value chain, enhancing margins, decreasing waste, and providing buyers and sellers more options.”
About the company:
The platform, founded in 2019 by Joel Watt, Nicolas Desormeaux, Erez Mathan, and Thomas Quiroga, combines stock management, a sales tool, and access to a real-time online marketplace to reduce friction for seafood buyers and sellers.
Suppliers may manage their fish stocks using Rooser’s cloud-based software application Sea. Store and publish the pricing and profile of individual fish to a customized online store and its broader digital market. Sellers gain the opportunity to manage and sell to their existing clients faster and for free and access new buyers – many more than would be feasible through traditional channels – with a single point of contact.
Currently, the company trades fish in 13 countries, undertaking quality checks for both buyers and sellers to ensure better accountability, higher-quality food, and speedier payments.
It will now offer 7-day payments to suppliers, guaranteeing that transactions are completed on time this month.
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