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Innpact supports French Start-up Rutabago via its Social Contract

Innpact supports French Start-up Rutabago via its Social Contract

24 June 2020 | 1min to read

We, Innpact aim at pursuing our mission of fostering sustainable impact finance initiatives by providing mainly innovative advisory, consulting and management services. Another tool to reach that objective is the Innpact Social Contract, a unique instrument that allow us to support fantastic initiatives that are not part of our core business. Our support is provided by way of pro bono consulting and by financial support to projects that generate positive social and/or environmental impact. The Social Contract is steered by our Social Contract Committee, composed of dedicated Innpact staff members.

The purpose of the Social Contract is to foster a meaningful link between Innpact, its co-workers and society by contributing part of the resources in a responsible way to projects that create opportunities in their local community and beyond.

In the scope of this initiative, we recently disbursed end of May a loan to Rutabago in support of its Lita fundraising campaign,.

Rutabago is a French food-tech start-up that designed a sustainable and innovative solution to simplify shopping and promote healthy and responsible consumption, while reducing pollution and food waste.

Since 2016 Rutabago delivers cooking boxes with 100% organic and local products, allowing its customers to make delicious recipes without having to do grocery. Boxes are containing the exact right amount of food, thus reducing food waste while promoting an environmental-friendly responsible consumption. In this way Rutabago can pursue its mission of regaining the pleasure of healthy and sustainable cooking, while supporting local producers and reducing food waste.

Since the first box was sent 4 years ago, Rutabago has avoided 10 tons of food waste thanks to the pre-dosed ingredients, and 5 tons+ thanks to donations to solidarity grocery stores. These various commitments have enabled Rutabago to be the only company in its market with the label AB (écologie) label and to be recognized as a social enterprise in its statutes.

Biocoop, a leader in specialised organic distribution, and NovESS, an impact investment fund, have been Rutabago’s two main shareholders since June 2019. In addition to financial support, they bring their expertise and a network of partners from the social and solidarity economy.

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