October 5, 2022

unic power

health life

Like Tinder for food SMEs?

4 min read

The site, which was unveiled last year, aims to allow buyers and suppliers to discover, verify, match, connect, communicate in any language and trade.

Brexit was its original inspiration. “We were looking to see what solutions were out there for Irish companies in the food sector when their supply chains were disrupted,”​ explained Martin Fitzgerald, co-founder and CEO.

An Irish bakery, for example, buying a million euros worth of flour a month from a UK distributor was facing cost increases of up to 25% on that one raw material due to Brexit and needed to source an alternative. The process, Fitzgerald recounted, took around four months and involved language barriers, a lot of Google searches and too many bad actors, inactive profiles and out-of-date lists of directories. “We decided then there has to be a better way of doing this.”

The challenge in finding new, good quality national and international suppliers or buyers, and being able to establish trust is a huge challenge that takes too much time and costs too much money and resources, especially for mid-sized companies, believes Fitzgerald.

Kwayga’s solution therefore is to make it easier for buyers and suppliers to connect, establish trust and securely trade with other businesses anywhere, in any language, at any time.

Based on EU and its own data, it estimates most SMEs in Europe complain they lack information when expanding into new markets. Over 70% of buyers start with a Google search to find new suppliers. Around 60% of buyers say they don’t have the resources to do due diligence required to verify the details about prospective suppliers. Around 60% of suppliers say they lack the resources to be able to approach buyers.  

https://www.foodnavigator.com/Article/2022/05/12/like-tinder-for-food-smes

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