Zapp secures $200m in Series B funding led by Lightspeed, 468 Capital, and BroadLight Capital to scale its supply chain operations.
The Series B round was led by Lightspeed, 468 Capital, and BroadLight Capital, with backing from Formula One legend Lewis Hamilton.
≈ £149M at $1 = £0.7460 on 28 Jan 2022
Zapp is a convenience delivery application operating micro-fulfilment centres to supply everyday items around the clock. Founded in London, it focuses on urban centres to provide rapid delivery services.
Zapp has raised $200m in Series B funding from a group of international backers to expand its supply chain infrastructure and build profitability in current markets. The investment round was led by Lightspeed, 468 Capital, and BroadLight Capital, with participation from existing investors including Atomico, Burda, and Vorwerk Ventures, alongside Formula One driver Lewis Hamilton.
Established in the summer of 2020, the company operates a network of micro-fulfilment sites providing round-the-clock delivery services in major cities such as London and Amsterdam. The latest injection of capital will be directed towards enhancing customer experience, advancing technology platforms, and scaling operations across new and existing territories following recent distribution centre expansions.
From the founder
"We’re on a long-term journey to build a technology-enabled supply chain that can deliver 1000s of products to 100s of millions of customers around the world faster and more sustainably than any other supply chain can today. With this new capital we will focus on achieving profitability in our existing markets as well as bringing Zapp to new customers globally."
Joe Falter
Co-founder at Zapp
Investor perspective
"Convenience retail is one of the last segments of retail to move fully online, but is really having its moment post-lockdown. As people return to their busy lives, rapid delivery allows them to ‘live in the moment’ and Zapp has been built from the ground up to harness this consumer behaviour and is seeing exceptional customer loyalty as a result. We’re thrilled to be part of the company’s journey as it brings a totally new experience to customers in the convenience grocery market and continues to invest for the long term."
Rytis Vitkauskas
Partner, Lightspeed