The Snappy Group raises £19.4m in a Series A round led by PayPoint to expand operations and create jobs.
PayPoint led the oversubscribed Series A round to fund team expansion and technology development.
The Snappy Group operates technology platforms that connect consumers with local convenience stores and hospitality venues for home delivery and ordering. Founded in Dundee, the business aims to empower neighbourhood retailers to compete effectively against dark store operators.
The Snappy Group has secured a £19.4m Series A investment led by PayPoint, with additional participation from Highland Tech, Justin King, Maven Capital Partners, Kelvin Capital, and Scottish Enterprise. Early backer Mercia Asset Management also maintained its investment in the business. The oversubscribed funding will support an ambitious expansion strategy, including the creation of 400 new jobs over the next three years across technology, partner services, and marketing. Founded in 2017, the technology platform connects users with local shops and hospitality venues, registering rapid growth and reaching an annualised gross merchandise volume of £132m.
Use of funds
- 01Grow the team
- 02Continue product development
- 03Invest in sales and marketing
Investors
PayPoint
Highland Tech
Maven Capital Partners
Kelvin Capital
Scottish Enterprise
Mercia Asset Management
Categories
About the company
Snappy Group
The Snappy Group provides technology platforms connecting consumers with local convenience stores and hospitality venues.