Too Good To Go
App marketplace that sells surplus food from stores and restaurants at a discount.
On the record
Checkpoint: FY2025 Danish annual report discloses entity level revenue and profit
The call
Too Good To Go owns the surplus food app category but runs on thin margins, and smarter store side forecasting plus deep pocketed delivery apps both threaten the supply it needs to survive.
Too Good To Go runs a two-sided marketplace where restaurants and grocery stores sell surplus food at a discount through its app, and customers buy these deals. The company has built real scale with 120 million users and 180,000 partner stores, but makes only 1 to 2 percent profit on each transaction, making it fragile. Artificial intelligence tools like Afresh and Shelf Engine help stores predict demand more accurately, which means less surplus food gets created in the first place, shrinking the pool of deals Too Good To Go can sell. If major delivery apps like Uber Eats or DoorDash add their own surplus-food sections, or if Too Good To Go's rumored new funding round happened at a lower valuation, the company's value would drop significantly and its path to profitability would become much harder to see.
Why
01
AI pressure: Afresh, Shelf Engine. Their AI demand forecasting helps grocers order more precisely, which shrinks the leftover food Too Good To Go depends on. Could AI do the core job? Only partly.
02
Bigger players: Uber Eats, DoorDash, Instacart, Amazon. Any of these delivery giants could bolt on a surplus food tab and use their bigger user base to pull partners away. Could a giant copy it? Probably.
03
What protects it. 120 million signed up users and 180,000 store partners create a two sided network that is slow and costly to copy.
What would change this call
Whether the reported €200 to 300M funding round closes and at what valuation is confirmed. A down-round or stalled raise would signal weakening investor confidence in growth.
Whether Too Good To Go's FY2025 Danish ApS annual report shows revenue or margin decline. Would show whether thin 1 to 2% margins are eroding as competition or costs rise.
Whether Afresh or Shelf Engine forecasting tools are adopted by major grocery chains that currently supply Too Good To Go. Would show upstream AI tools shrinking the surplus food supply the marketplace depends on.
Whether Too Good To Go's FY2025 Danish ApS annual report shows revenue or margin decline. Would show whether thin 1 to 2% margins are eroding as competition or costs rise.
Whether Afresh or Shelf Engine forecasting tools are adopted by major grocery chains that currently supply Too Good To Go. Would show upstream AI tools shrinking the surplus food supply the marketplace depends on.
Key numbers
- 120 million registered users
- DKK 9.6m net profit FY2024, down from DKK 15.7m
- US partners grew to 17,000+, up sharply YoY
Named risks
- Unclosed EUR200 to EUR300 million funding round could result in a down-round or heavy dilution.
- Upstream AI forecasting tools like Afresh and Shelf Engine may shrink the surplus food supply TGTG relies on.
- Hiring slowdown (90.4 percent drop in job postings in 2025) and negative employee sentiment signal possible cost pressure.
- Thin entity-level net margins (roughly 1 to 2 percent at Danish entity) leave little buffer against cost shocks.
- Global consolidated financials remain unverified, making true company-wide profitability unknown.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Afresh and Shelf Engine | losing to | AI demand-forecasting tools reduce retailer surplus upstream, shrinking the supply TGTG depends on, as of 2026 analysis |
| OLIO | contesting | Reviewed alongside TGTG as direct UK food-waste app rival by Which? in November 2021 |
| Karma | contesting | Stockholm-based rival offering item-choice model versus TGTG surprise bags, compared by Which? in 2021 |
| Flashfood | contesting | Toronto-based rival integrated directly with retailer POS systems in US and Canada, listed by PitchBook as competitor |
| Kroger internal markdown programs | contesting | Kroger has run its own in-house discount markdown programs for years, per February 2026 report |
| Uber Eats, DoorDash, Amazon | contesting | Potential multi-sided platforms that could add surplus food tabs, no confirmed launch as of 2026 |
Questions people ask
- Is Too Good To Go profitable?
- Its Danish operating entity, Too Good To Go ApS, reported a net profit of DKK 9.6 million on DKK 725 million revenue in FY2024, down from DKK 15.7 million profit in FY2023. This is entity-level only, not the global consolidated group, so overall company profitability is unconfirmed.
- Who owns Too Good To Go?
- Too Good To Go is privately held and venture-backed, with investors including Blisce, Sofina, and Audeo Ventures. As of June 2025, Bloomberg reported the company was weighing a new EUR200 to EUR300 million funding round, with no confirmed close or valuation disclosed yet.
- Could AI replace Too Good To Go?
- AI demand-forecasting tools like Afresh and Shelf Engine could shrink the surplus food supply TGTG relies on by helping retailers predict inventory more precisely upstream. TGTG itself uses Mistral AI on AWS Bedrock for partner-retention analytics, but its core moat is marketplace liquidity, not an algorithm.
- Who is Too Good To Go's biggest competitor?
- Direct rivals in food-waste apps include OLIO and Karma in Europe and Flashfood in North America, all reviewed alongside TGTG by Which? in November 2021. A bigger structural threat comes from upstream AI forecasting tools like Afresh and Shelf Engine reducing retailer surplus.
- How big is Too Good To Go's user base?
- Too Good To Go claims 120 million registered users, 180,000 active business partners, and presence in 21 countries, with over 500 million meals saved cumulatively, according to the company's own about-us page as of 2026.
- Is Too Good To Go raising new funding in 2025?
- Bloomberg reported on June 20, 2025 that Too Good To Go was weighing a EUR200 to EUR300 million funding round. As of this writing there is no confirmed public disclosure of the round closing or its final valuation.
Timeline
- 2026-01-08CB Insights shows unattributed funding round involving HOOPP pension plan
- 2025-08-27Announces national Whole Foods Market partnership and US expansion push
- 2025-06-20Bloomberg reports company weighing EUR200 to EUR300 million funding round
- 2024Danish entity revenue reaches DKK 725m with DKK 9.6m net profit
- 2023Danish entity reports DKK 544m revenue and DKK 15.7m net profit
- 2022Danish entity revenue reaches DKK 496m
- 2021-12Series B funding round of approximately $23.7 million closes
- 2021Danish entity revenue reaches DKK 449m
- 2016App launches following 2015 Copenhagen founding
Revision history
23 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Too Good To Go, Too Good To Go
- Too Good To Go (2026-06-09)
- About Us - More Information
- Too Good To Go Accelerates U.S. Expansion (2025-08-27)
- Too Good To Go Accelerates U.S. Expansion (2025-08-27)
- Too Good To Go Date Labelling
- Too Good To Go Stock Price, Funding, Valuation, Revenue & Financial Statements (2026-01-08)
- Startup Too Good To Go Said to Weigh €300 Million Funding Round (2025-06-20)
- Valuation, Funding Rounds & Stock Price (2026-04-20)
- Too Good To Go Number of Employees 2026 (2026-06-29)
- Too Good To Go Optimizes Partner Retention with Mistral AI in Amazon Bedrock
- The Easiest Way To Save Money At Kroger Is Also A Genius Sales Tactic (2026-02-10)