A large number of UK convenience stores are currently unable to offer a home delivery service, which presents a significant market opportunity. Snappy Shopper’s affordable tech solutions and operating model connects consumers with their local businesses, in a way that is very different to delivery aggregators, enabling local retailers to compete effectively in the fast evolving convenience market. Snappy works in partnership with existing local businesses and enables retailers to retain control over their home delivery service.
Convenience stores are provided with a technology solution which allows customer to take advantage of in-store pricing and special offers, tailored to the needs of each individual neighbourhood. Retailers have the opportunity to increase revenue significantly with average online basket spend more than trebling that being achieved instore.
Maven’s investment will significantly accelerate Snappy’s next phase of growth across the UK, including investment in new services for its retail and hospitality partners. Over the next three years the business also expects to create 400 new jobs, as it invests further in people, technology, partner services and marketing.
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 in new services for our retail and hospitality partners and new hires across the business.
Mike Callachan, CEO and co-founder of the Snappy Group
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