Supermercato24 raises 11 M euros funding from international investors
Supermercato24, the e-grocery marketplace, has raised capital from international new and current investors. The investment will be used to boost the international expansion of the company after recent launch in Poland.
Supermercato24, the leading e-grocery marketplace in Europe, has raised 11 milion international funding from new investor DIP Fund I (DIP Capital LLP), alongside current ones, FII Tech Growth, 360 Capital Partners and Innogest.
The investment will primarily be used to further boost Supermercato24 international expansion, after recent launch of the service in Poland, while also solidify its leading position in the Italian market and deploying additional services for retailers and brands.
The scale-up allow customers to have all their groceries handpicked and delivered on the same-day, from their favorite supermarket and at the same price they would get in-store. At the same time, the platform allows retailers to start selling their groceries online rapidly and seamlessly, and with no up-front investment costs, which is aided by Supermercato24’s unique architecture, able to manage, in a simple way the high complexity of integration with different retailers, different stores, hundreds of thousands of products, multiple payment systems and pick&delivery processes.
The funding highlights the increasing attention from international investors in Supermercato24 and enlarges the considerable capital raised by the company during 2018-2019.
Founded in 2014, Supermercato24 has established a leadership position in Italy, growing revenues threefold every year, partnering with top retailers (including top tier European ones) and being available in more than 30 Italian cities. After launching its service in Poland in January, Supermercato24 has now become the first e-grocery player to grow internationally and expand its business into Europe. Consisting in an international team of about 140 people, the company features three offices (Milan, Verona, Warsaw) and aims to further expand its business in other countries by the end of the year.
Federico Sargenti, CEO of Supermercato24, said: “Our business has established a leadership position in Italy and we are now scaling internationally. We have just launched our service in Poland and we aim to expand geographically across Europe, while also launching new tools to serve our partner retailers and brands. EU e-grocery market is in a key phase of growth and we want to lead the way by leveraging our technology and innovative business model”
Riccardo Cirillo, Founding and Managing Partner of DIP Capital LLP, said: “We are thrilled by our investment in Supermercato24. We are truly impressed by the exceptional and ambitious team and the leadership role already established in the reference market. We believe that today Supermercato24 is in a strong position to scale significantly across the continent. We are delighted to add an international angle, while joining such an outstanding shareholders’ base, to support the next phase of growth”.