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Swiss Impact Investing Company Quadia Invests in LOOP
The Swiss investment company specialized in impact investing has invested in the series A financing round of the LOOP platform that provides an waste-free shopping experience through durable packaging.
Founded by hard-to-recycle materials pioneer TerraCycle and the environmental services company Suez, LOOP is a new disruptive e-commerce and retail distribution service based on re-usable packaging that modernizes the traditional milkman model in an efficient and durable way by tackling the issue of single-use plastic waste.
Alongside the standalone e-commerce model where consumers purchase partner products from LOOP's webstore, a complementary integrated model will enable retailers to offer durably packaged consumer goods from brands, whereby LOOP will manage the collection, storage, cleaning and delivery of packaging to manufacturers. Over 100 brands and producers have signed-up to the LOOP platform, with early partners including Procter and Gamble, Unilever and Nestlé as well as retailers Walgreens and Kroger's in the U.S. and Carrefour in France.
The initial launches in Paris and New York earlier this year have shown the strong interest in the platform. The funds raised in this round will finance the deployment of LOOP in the first two countries before expanding global operations which include the set-up of cleaning and logistics facilities in further launch markets in the UK, Japan, Germany and Canada.
Daniel von Moltke, Managing Partner of Quadia and member of LOOP's Advisory Board, comments: "After having been announced at Davos in 2019 and supported by the World Economic Forum (WEF), LOOP has already garnered the interest of the largest consumer brands on the planet thanks to its consumer-facing and logistics innovation tackling one of the largest environmental issues we are facing today: single-use plastics pollution in household products. The positive impact of LOOP is directly linked to the durable packaging and zero-waste purchasing model. We are pleased to be part of this pioneering initiative promoting a more sustainable production and consumption system."
Tom Szaky, Founder and CEO of TerraCycle and LOOP, adds: "In approaching potential founding investors for Loop Global Holdings, we sought to prioritize a diverse group of highly capable investors that could bring a range of capacities and stakeholder perspectives. In addition to having one each of the world's largest and most successful consumer products, media and packaging companies, we were particularly keen to have Quadia join, one of the most reputable, thoughtful and thorough impact investing firms we know. I look forward to working with the Quadia community as we build out LOOP globally."