Buymie, the same-day personal shopper service that recently secured a tie-up with Asda, has raised €7m in fresh funding, taking the Irish firm’s total funding to over €18m.
The latest investment was led by the company’s largest backers, including Grosvenor Food & AgTech, Act Venture Capital, Sure Valley Ventures, Haatch Ventures, and HBAN.
Other notable investors included Keith Weed CBE, the renowned former Chief Marketing and Communications Officer for Unilever and Eamonn Quinn, former Deputy Chairman of the Superquinn Group and Chairman of Buymie.
Launched in 2016, Buymie uses an innovative real-time order bundling algorithm to run its grocery delivery service that can fulfil orders in as little as 1-hour.
Buymie users have no limitation on basket size and have access to whatever products are in a local store. A personal shopper is appointed that can communicate with the customer to ensure the best substitutions and fresh produce are selected.
Buymie’s service is available to over two million households across Dublin, Limerick, Cork and Galway and Leeds and Bristol in the UK. The company’s official retail partners include Dunnes and Lidl in Ireland and the Co-op in the UK.
In March this year, Buymie announced a new partnership with Asda to launch the service in Leeds and Bristol, and was enlisted to build a customised Asda Express app.
Buymie said the new funds would be used to continue its expansion in both Ireland and the UK, with about 200 other cities currently being considered.
Devan Hughes, CEO & Co-Founder of Buymie, commented: “This capital will allow the business to continue its focus on developing best in class technology while helping our retail partners transform their online and in-store capabilities to better serve their customers and unlock growth opportunities.”
Keith Weed, who now sits on the board of directors of both Sainsbury’s and WPP, added: “The grocery retail landscape is being transformed by platform technology. It is very clear that the growth and margin opportunities of the future for retailers will be unlocked through capabilities facilitated by businesses and technology like Buymie”.
NAM Implications:
- Given its ‘open-ended’ offering:
- no limitation on basket size
- access to whatever products are in a local store
- a personal shopper that can communicate with the customer
- to ensure the best substitutions and fresh produce are selected.
- combined with delivery within 1 hour
- And if they can fulfil shopper expectations…
- …Buymie could be unstoppable.
- This one will be watched…
