Dundee-based Snappy Shopper receives seven-figure funding sum
Dundee-based Snappy Shopper has received a seven-figure funding boost with investment from Kelvin Capital, Mercia, the Scottish Investment Bank and the management team.
Snappy Shopper is a tech firm with an online platform which helps convenience stores and small corner shops to monopolise on the growth in online grocery sales.
The company ‘brings ‘convenience stores to consumers’ doors’ and can offer deliveries in under 60 minutes. Snappy Shopper helps independent stores and smaller chains to generate additional sales and engage with customers by offering promotions directly to their mobile phone while providing valuable insights into their buying behaviour.
Snappy Shopper has been launched by the team behind web development company mtc whose customers include BrewDog, Umbro, Innis & Gunn, and Macdonald Hotels & Resorts.
Mike Callachan, the company’s co-founder and chair, said: “Consumer behaviour is changing and customers now want delivery ‘on demand’. Snappy Shopper’s powerful app allows customers to order from their local convenience store and have their groceries at their door within 30 to 60 minutes. The platform provides a unique opportunity for convenience store retailers to increase their market share and profits as well as giving detailed insights into customer buying patterns and behaviour.”
John McNicol, director at Kelvin Capital, added: “Online shopping and food ordering is undoubtedly on the rise and the team at Snappy Shopper have identified a huge gap in the market by offering consumers the convenience of local grocery shopping, directly to their door, much quicker than a large supermarket can. Kelvin Capital are delighted to be investing alongside Mercia in such a fast-growing marketplace.”
Marcus Henderson, investment director with Mercia, said: “This investment will allow it [Snappy Shopper] to expand its live sites, continue to innovate and further develop its product and team. With Mercia’s experience backing early-stage tech firms, we are well placed to work with our partners and support the team in their ambition to make it the UK’s leading retail platform of its type.”
Kerry Sharp, director, Scottish Investment Bank,added: “Snappy Shopper has channelled years of e-commerce and development experience into the creation of a platform that could completely transform community-based retailers’ interactions with existing and potential customers. We hope our support will help the company tap into the significant market opportunity that exists and grow its business exponentially over the next few years.”
DC Consulting provided corporate finance and fundraising advice to Snappy Shopper. Blackadders provided legal advice to the company, while Davidson Chalmers Stewart advised Kelvin Capital, Burness Paull advised Mercia and CMS acted for the Scottish Investment Bank.