OLIO Exchange Limited

Based in the UK, OLIO Exchange Limited operates a local sharing app that connects communities for the exchange of surplus food and other items, thereby reducing waste and fostering community engagement. OLIO Exchange Limited, founded in 2015 and headquartered in London, UK, serves as a platform for local sharing and resource exchange. The company was initiated by Saasha Celestial-One, who has a background in sustainable business initiatives. In August 2021, OLIO raised GBP 25 million in SERIES B funding, co-led by Luxor Capital Group and VNV Global, with additional participation from Alumni Ventures Group, Flight Ventures, Gaingels, and others.

This funding brought the total amount raised by the company to GBP 25 million, with a current valuation of GBP 104. 058 million. Olio operates a local sharing app designed to facilitate the exchange of surplus food and other items within communities. Users can share items they no longer need by uploading photos and specifying pick-up locations, which may be at their doorstep or in public areas.

This service targets individuals looking to declutter their homes, reduce food waste, and engage with local communities, serving markets across the UK, Europe, and expanding into urban areas globally. Olio's revenue generation model primarily relies on partnerships with local organizations, businesses, and community groups. The platform promotes sustainability by allowing businesses to provide surplus food to users through the app, facilitating free exchanges that support operational costs. While specific pricing plans are not disclosed, the app operates on a no-cost basis for consumers, thus encouraging community building and resource sharing.

Following the GBP 25 million SERIES B funding raised in August 2021, OLIO plans to enhance its global expansion strategy, focusing on launching its Food Waste Heroes Programme and increasing staff recruitment. The funding will support these initiatives as OLIO aims to extend its reach into new geographical markets, furthering its mission to reduce food waste and foster sustainable community practices.