Snappy Shopper, the home delivery platform operating in the convenience channel, has raised a “seven-figure sum” from existing investors in a fresh round of funding that will finance the company’s growth plans.
The investment – from Highland Technology, Kelvin Capital and Scottish Enterprise – is intended to help the business enable more independent convenience stores to offer a quick commerce service using the platform’s technology.
Snappy Shopper has already achieved triple-digit average annual revenue growth since its inception.
The business intends to capitalise on the slowdown of the dark store operating model and also expand to other high street retailers, as well as internationally.
Niall Santamaria, Chief Investment Officer at Highland Technology, commented: “Snappy Shopper’s business model sets them apart from their rivals who rely on expensive site leases and fit-outs, holding of inventory and logistics processes, to compete with convenience store retailers.
“Instead, Snappy partners with thousands of small business owners who have been serving their communities for years, if not generations, and enable them to not only serve their customers better but grow their own businesses.”
NAM Implications:
- If Snappy Shopper have found a way of making quick delivery work in the convenience sector…
- …then it makes a no-brainer route to adding value for Independent convenience retailers.
- Watch this space…
