Waysia (formerly SoFaim )

About Waysia (formerly SoFaim )

Waysia, initially launched as Alorsfaim in 2018, operates as a specialized e-commerce platform for Asian food and groceries, headquartered in Paris, France. The company was founded by Yejun Fan and Yingfeng Li, who came to France for their studies and identified a gap in the market for accessible Asian cuisine. Yejun Fan, the current CEO, transitioned from a career in finance at major banks like BNP Paribas and HSBC to become a serial entrepreneur, applying his business acumen to the food-tech industry. The venture began as a food delivery service, partnering with authentic Asian restaurants, a segment that has grown to include over 800 partners.

A significant pivot occurred in early 2020 at the onset of the pandemic. Widespread panic buying led to supply shortages, prompting the company to establish its own warehouse in Thiais, Val-de-Marne, and source products directly from suppliers, including Asian vegetable farms in the Netherlands, France, and Spain. This strategic shift to a vertically integrated, direct-to-consumer grocery model proved successful, addressing the underserved market for ethnic groceries in Europe. The business now offers a curated catalog of over 2,000 products, including fresh produce, frozen items, seasonings, and beverages, delivered to customers across France, Belgium, and Luxembourg. The company's business model focuses on weekly grocery shops, with an average order value of approximately 70 euros.

Waysia's revenue is generated primarily through the direct sale of groceries and prepared meals. The company has demonstrated strong growth, attracting significant investor interest. It has secured a total of $14.6 million in funding over two seed rounds. A major funding round in September 2022, led by Banyan Pacific Capital, raised approximately €10 million. Other notable investors include Cathay Innovation, iFly.vc, Goodwater Capital, and Dastore—a fund backed by Carrefour. This capital is being deployed to enhance its technological capabilities, strengthen its supply chain, and expand its footprint into other key European markets, such as Germany and the UK. The company's operations are supported by an in-house technology stack, and it draws inspiration from the success of similar models in North America, like Weee!, with which it shares investors.