Snappy Shopper is to further grow its home delivery platform for independent retailers following the raising of a seven-figure sum from its existing investors.
Highland Technology, Kelvin Capital and Scottish Enterprise have all invested more funds into the home delivery service which has seen an average of triple-digit annual revenue growth since its inception.
The funds will be used to continue to invest in the company’s growth and core technology platform in pursuit of Snappy Shopper’s mission to “enable local retailers to serve customers online with a local home delivery service”.
The business had been in partnership with PayPoint, which was also an investor in Snappy Shopper, however they parted ways earlier this year.
Snappy Shopper hopes to capitalize on what it believes is the slowdown of the dark store operating model and capture consumer demand by enabling existing local convenience stores to offer a profitable quick commerce service using the platform’s leading technology.
It also plans to expand internationally, having already made progress via its Hungrrr proposition for hospitality. In October 2021, CEO Mike Callachan outlined to Convenience Store his ambitions to enter the Republic of Ireland.
Speaking on the investment, Callachan said: “This round of investment signals the next chapter for Snappy Shopper. Following another record-breaking year, we have continued to onboard new stores at pace and deliver record numbers of orders. Our capital light model uniquely places us to grow in a challenging business environment as consumers continue to value convenience and local businesses. We are excited about the path ahead and grateful to have such supportive investors with us on the journey.”
No comments yet