Buymie raises €5.8m in latest investment round
15 June 2020 | 0
Grocery delivery company Buymie has received an additional €5.8 million in investment, bringing total capital raised this year to €8 million.
The latest investment round was led by Wheatsheaf Group, the food and agriculture investment arm of the Grosvenor Estate. Follow-on investments were committed from existing backers including: Act Venture Capital, Sure Valley Ventures, Haatch Ventures, and HBAN. Other notable investors include Keith Weed, former Chief Marketing and Communications Officer for Unilever, and Scott Weavers Wright, former Managing Director of Morrisons.com.
A leading player in Ireland’s same-day grocery delivery market, Buymie works with retail partners including Lidl and The Co-op by providing a same-day ‘concierge’ delivery service to their customers.
When using the service, Buymie connects users to its network of trained personal grocery shoppers. These shoppers, which it classifies as independent contractors, complete orders on behalf of users.
In May, Buymie launched in the UK, marking the start-up’s first expansion outside Ireland. The funds recently raised will enable Buymie to continue to expand both in Ireland and in the UK.
As well as driving its expansion, the company said the new funds will allow the company to focus on reducing the environmental impact of grocery shopping. It claims its initiatives include limiting the use of secondary plastic packaging, reducing private car journeys, as well as designing incentive programmes to help facilitate a switch to electric vehicles.
“This funding round will help Buymie achieve our goal of becoming the leading same-day grocery delivery provider across the UK and Ireland,” said Devan Hughes, CEO and co-founder of Buymie.
“More and more customers are frustrated by the long waiting times offered by conventional grocery delivery services and delighted with our solution that can deliver groceries in as little as one hour. The success of our Lidl partnership has demonstrated just how much appetite there is for our service, and how important seamless delivery is to retailers’ reputations. They have been a fantastic partner to Buymie.”