Quiqup, the London-based delivery start-up, has raised £20m in private funding to fuel its geographical expansion.
The startup company, which has begun operating a delivery service for Whole Foods Market, Burger King and Tesco, in London over the past year, secured New York fund Jobi Capital as its lead investor.
The rest of the multimillion-pound invest came from Transmed - a leading fmcg distributor in the Levant, Gulf, and Africa - and investors from its previous funding round in 2015.
Quiqup said it would use the funding to set up its third party delivery service in other major UK cities and to kick-start its international expansion.
The company said it would also look to improve the routing and dispatching capabilities of its service, which promises to “shop, pick up and drop whatever you need, on demand”.
The startup is also set to expand its range of services to attract more major retailers, although it would not reveal details. The company already offers a consumer-facing mobile and web app, a web app for smaller retailers, and a service that incorporates Quiqup delivery into the website of large retailers.
Bilal Mekkaoui, managing partner at Jobi Capital, said: “We see the last-mile delivery space as having huge market potential not just in the UK but globally.
“We have been impressed with how quickly Quiqup has established itself as a leading player in the sector. It has already developed an exceptional portfolio of on-demand delivery products.”
“Today’s investment brings us one step closer to our goal of bringing on-demand delivery to the mass market,” Quiqup founder Bassel El Koussa said.
