16 March 2009

Keldélice, France's leading online fine foods market, has finalised an initial round of financing with Crédit Agricole Private Equity, which is investing €1.5 million in the company.

In February 2009, the Keldelice.com website attracted 150,000 visits. The website brings together more than 500 producers and retailers and offers a range of more than 10,000 regional speciality products.
The company has around a dozen employees. It was created in early 2008 by Cyril Janin, former Chairman and founder of Keljob - now known as Adenclassifieds - a company specialising in online B2B classified advertising.

Website concept: an online fine foods market

Cyril Janin noticed that small producers in France did not have the presence they deserved on the internet and that internet users did not have access to all of the country's regional speciality foods.

He decided to use technology to promote France's gastronomic regions, drawing on the business model of a traditional market. Instead of a market stall, producers are offered unique visibility on the internet and access to millions of consumers.

Whether they are real food lovers or just have a passing interest, visitors to keldelice.com benefit from the widest range of fine food products online. They can join the Keldélice community and swap recipes, tips and favourite addresses, as they would do at a traditional market.

Funds will help to speed up the company's commercial development

The funding raised will be used to support Keldélice's commercial development, based on paid inclusion. It will also be used to expand the range of products on offer and create high quality editorial content.

Cyril Janin, Chairman and co-founder of Keldélice, comments: “Crédit Agricole Private Equity provides us with not only its financial support - which is essential during the early stages of our business - but also its knowledge of e-commerce. Keldélice is now in a position to establish itself in the promising market of online retailing of fine food products”.

“We are delighted to support Cyril Janin's new venture, having already worked with him for more than six years,” states Antoine Colboc, head of Venture Capital at Crédit Agricole Private Equity. “His past success with web-based businesses, his strategic vision and his knowledge of the sector are undeniable strengths that should ensure the success of Keldélice.”

The fund-raising took place in March 2009.

Crédit Agricole Private Equity representatives

Antoine Colboc, head of Venture Capital
Xavier Brunaud, Venture Capital associate

Advisors

Crédit Agricole Private Equity financial and legal audit: Ernst & Young: François Poncet and Emmanuel Picard
Keldélice financial and legal audit : Vendôme Law: Lionel Jung-Allegret and Nicolas Mazzella
Auditors: Deloitte & Associés: Jean-Luc Berrebi