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Snappy raises £19.4m, including £6.
Dundee-based home delivery platform has raised over £19m in a Series A fundraise, including a su
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he Snappy Group, owners of the Snappy Shopper home delivery platform, has announced that it has raised £19.4m in its Series A fundraise round. That figure includes a substantial £6.6m strategic investment from PayPoint as well as investments from Highland Tech, Justin King, Maven Capital Partners, Kelvin Capital and Scottish Enterprise. Mercia Asset Management previously provided the Company with funds and remains an investor. PayPoint CEO Nick Wiles, Lord Laidlaw of Highland Tech and Frank Skivington, formerly of Skyscanner, join the Board as Non-Executive Directors alongside Board Advisers Justin King, former Sainsbury’s CEO, and and Gordon Blair, former F1 team director. The investments are expected to create 400 new jobs over the next three years as the rapidly expanding company invests in people, technology, partner services and marketing. Snappy Shopper currently has 90 employees. The company has revealed that it has seen a 16% increase in total sales in the past four weeks to 21 May compared with the same four weeks in January. Annualised sales for the group is £132m. It was also revealed that Snappy has grown from 220 to 1,540 business partners since December 2019, and to more than 1 million users across the UK. The company aims to continue that growth as part of its new three year plan with the recently announced partnership with PayPoint alone
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enabling thousands of PayPoint retailers to implement its home delivery and click and collect solutions through the PayPoint One Epos system. Mike Callachan, CEO and co-founder of the Snappy Group, said: “Demand for the fundraise exceeded our expectations and we are pleased to have attracted such high-profile investors and advisers. The proceeds will significantly accelerate our next phase of growth across the UK, including investments
