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Zapp receives USD 200 mln funding

Friday 28 January 2022 12:33 CET | News

Instant grocery delivery platform Zapp has secured USD 200 million in a Series B funding round co-led by 468 Capital, BroadLight Capital, and Lightspeed as main investors.

Company officials mentioned that the new funding series will be used to boost its presence in its home market, London, and expand in other cities from the UK, as well as abroad. Apart from London, Zapp is currently present in Bristol, Cambridge, Manchester, Amsterdam, and Rotterdam, and is running a soft launch in France’s capital, Paris.

With the newly secured money, Zapp aims to claims its share of the on-demand convenience market, becoming direct competition to other successful startups like Deliveroo, Getir, and Jiffy.

Zapp representatives said they found a formula that balances customer service that combines a strategically placed network of smaller dark stores, a big distribution centre, a mix of products catering to users’, as well as a supply chain that corrects directly with wholesalers and brands.

And, as convenience retail will most likely continue to be a big hit even in the aftermath of the pandemic, Zapp’s lately round of funding could mean stronger competition in the field and better services for customers.


Source: Link


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Keywords: funding, delivery, online shopping, expansion, ecommerce, mobile payments
Categories: Payments & Commerce
Companies: Zapp
Countries: United Kingdom, Western Europe
This article is part of category

Payments & Commerce

Zapp

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