Kwayga.com, a supplier sourcing engine for supermarket buyers, has closed a funding round, with a €1 million investment round led by The Redesdale Food & Beverage Fund.
Cork-headquartered Kwayga.com enables buyers to cut their sourcing times by 40% using its game-changing supplier sourcing technology, achieving in minutes what previously took months.
The company was founded in 2021 by Mike McGrath and Martin Fitzgerald to provide a sourcing engine for buyers to engage them with perfectly matched private label and trending product suppliers in European markets where they would not previously have had visibility.
Buyers use Kwayga.com to cut 40% off their sourcing lead times, get new product requirements on shelves in record time; replace existing products when necessary; and for targeted cost saving programmes. It already counts the main Irish supermarkets and several UK supermarkets as its customers, and has in excess of 80,000 suppliers on its database.
McGrath said: “Redesdale’s investment is a huge vote of confidence in our groundbreaking technology. This partnership will significantly accelerate our growth across Europe as we continue to build high value relationships with significant UK and European buyers, reducing their sourcing time and costs by rapidly connecting them with the best European suppliers. This funding will be used to scale our team and continue to grow our product.”
Investors in the Redesdale Food & Beverage Fund include Enterprise Ireland, Lord Abbett, Musgrave, Coca-Cola, Monaghan Mushrooms, and Tate & Lyle.
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