Food delivery startup Stava completes a share issue and raises over $900k

Polish Stava has completed the crowdfunding campaign and raised more than $900,000 by selling its shares to 451 investors. This is less than what the company wanted, as the plan was to receive over $1,1 million, the Stava’s page said.

Stava has been developing a gastro-courier network since 2014. According to the startup, the use of its services reduces the cost and time of deliveries and increases the profits of any restaurant, regardless of its turnover. Unlike Glovo or UberEATS, Stava does not have an app and a platform for ordering food. It only offers full-cycle delivery services including business reports containing data analysis and suggestions.

Stava operates on the franchise model. To date, it has 30 branches in 26 cities in Poland and cooperates with McDonald’s, AmRest Group, Sfinks Group, as well as hundreds of independent restaurants and stores. 

The startup is planning to use the proceeds for expanding the Stava network to 93 branches in Poland by the end of 2021 and for entering the German market this year.