Weezy raises $20m Series A funding round to expand across the UK
Weezy, the on-demand supermarket that delivers groceries in only 15 minutes, has raised $20m in Series A funding to expand its grocery delivery service across London and the broader UK.
The new investment was led by New York-based venture capital fund Left Lane Capital. Also participating are UK-based fund DN Capital, earlier investors Heartcore Capital and angel investors, notably Chris Muhr, the Groupon founder.
The funding will help expand the company’s London-based team by 50 employees over the next four months, in addition to extra fulfilment centre staff.
Weezy is opening two fulfilment centres in Lambeth and London Fields this month, adding to its existing locations covering Battersea, Clapham, Fulham and Chelsea. It plans to open 40 more UK sites by the end of 2021.
Since its launch in July 2020, Weezy has delivered fresh produce and household items to thousands of customers, using pedal cycles or electric mopeds, in less than 15 minutes on average.
Weezy helps busy householders to shop for groceries quickly and has proved to be a lifeline for all age groups during the coronavirus pandemic. The popularity of online grocery delivery has accelerated since early 2020; in Q2 2020 alone, half a million new shoppers were added to the grocery delivery sector, which is now worth £14.3bn in the UK.
Kristof Van Beveren, Co-founder and CEO of Weezy, said: “People are no longer happy to wait around for deliveries, and there is strong demand for a more efficient service. Weezy customers love the friendliness of our team, the quality of our produce, and our quick, accurate delivery times. This new funding round will allow us to expand the team and our footprint to bring Weezy to more customers across the UK.”
Harley Miller, Managing Partner, Left Lane Capital, commented: “Weezy’s founding team have the right balance of drive, experience and temperament to lead in e-commerce innovation and convenience within the UK grocery market and beyond. It is an honor to partner with them on this journey and help them solidify their first-mover advantage in London.”
Nenad Marovac, Founder and Managing Partner, DN Capital, said: “Even before the pandemic, interest in online grocery shopping was on the rise. The first time I ordered from Weezy, my delivery arrived in seven minutes and I was hooked. There is a need for fresh, visionary ideas to shake up this space and the team at Weezy is doing just that. I’m excited for the next stage of this dynamic company.”