Biffa plc investment in LoveJunk
LoveJunk receives seed funding from Biffa plc
LoveJunk, the waste collection and reuse marketplace, is pleased to announce that it has received seed funding from leading sustainable waste management company Biffa plc.
LoveJunk is an app and web-based marketplace that connects licensed waste collectors and reuse organisations with people and businesses requiring on-demand removal of junk and bulky waste. The platform helps users find the best price possible, provides a secure online payment process, and ensures the waste is disposed of sustainably.
The investment by Biffa will be used to support LoveJunk’s rollout across the UK and further develop its product offering.
Jason Mohr, founder and CEO of LoveJunk, says: “We are delighted to welcome Biffa as a shareholder. In addition to the growth capital, the involvement of such a highly regarded industry player strengthens our credibility in the market and will help open commercial opportunities across both the private and public sector as we scale-up the business.”
Michael Topham, Chief Executive of Biffa, added: “The Covid-19 pandemic has accelerated digitisation in the waste sector. LoveJunk is an exciting example of this trend and of how technology can be used to harness the reach and capacity of smaller waste collection operators. Their marketplace model clearly has significant potential and the focus on reuse also fits well with our own strategy in this area. We look forward to working with the team.”
LoveJunk was launched in June 2020 as a spin out of tech waste business, AnyJunk. It currently operates throughout Greater London and also parts of Surrey and Kent.
For more information visit https://www.lovejunk.com/.
With a history of leading the UK’s waste management industry for over 100 years, Biffa is an established enabler of the UK circular economy.
Our team of more than 9,000 colleagues carry out essential operations every day to support the UK circular economy including collection, surplus redistribution, recycling, treatment, disposal and energy generation.
Our purpose is ‘to change the way people think about waste’ and sustainability has been at the heart of our business strategy for many years. We have already made huge strides in our sustainability journey by investing in plastic recycling and energy from waste infrastructure, surplus redistribution and low carbon collections, leading to a 70% reduction in our carbon emissions since 2002. Our sustainability strategy ‘Resourceful, Responsible’ will see us unlock £1.25bn of investment in vital green economy infrastructure by 2030, while further reducing our carbon emissions by 50% by 2030. We aim to have net zero emissions no later than 2050.
We understand that we must lead by example and are committed to further improving health, safety and wellbeing in our sector. We are proud to have been awarded a 5 star grading by the British Safety Council. We have also made strong progress in making sure Biffa is an inclusive place to work where diversity is championed and our >9,000 strong workforce feel valued and understand the positive contribution they make to enabling the UK circular economy.
Our long-standing Biffa Award programme supports sustainable projects across the UK which deliver environmental benefits while making a valuable contribution to local communities. Our partnership with WasteAid helps countries in the developing world with managing their waste more sustainably.
Biffa is a Great British company. We have been listed on the London Stock Exchange since October 2016 under the ticker “BIFF” and in March 2020, we entered the FTSE-250.
For more information visit https://www.biffa.co.uk/
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