Dundee-founded retail technology company Snappy Group has secured a seven-figure funding facility from Virgin Money as transaction volumes across its platform hit record levels.<\/p>\n
The venture debt facility will support the Scottish scale-up’s expansion across its retail technology and marketplace platforms, with annualised grocery GMV now exceeding \u00a3150m.<\/p>\n
Snappy Group operates the quick-commerce marketplace Snappy Shopper alongside broader retail technology solutions including Order Aggregation, white-label services and retail media.<\/p>\n
Barry McGonagle, chief financial officer at Snappy Group, said: “Demand for our products and services is growing rapidly, transaction volumes across the platform are at record levels, and the market opportunity in front of us is significant. This facility adds further firepower alongside previous equity investments and gives us the capital and flexibility to accelerate into that opportunity with confidence.”<\/p>\n
The company said it has a strong pipeline of major global retailers in discussion for its Order Aggregation product, following recent partnership announcements with Co-op, SPAR and Musgrave.<\/p>\n
Andrew Stirrat, senior director of venture debt at Virgin Money, added: “We have closely tracked Snappy Shopper’s progress over several years and have been consistently impressed by the strength of the business and its sustained growth.”<\/p>\n
The value of the deal was not disclosed.<\/p>\n
Founded in 2017, Snappy Group operates through three divisions: Snappy Shopper, its marketplace and rapid delivery platform; Snappy Technologies, its q-commerce technology stack; and Snappy Media, its retail media arm.<\/p>\n
The company works with independent and national retail partners across the UK convenience sector, including SPAR, One Stop, Morrisons and Co-op.<\/p>\n","protected":false},"excerpt":{"rendered":"
Platform now handles \u00a3150m annualised grocery transactions<\/p>\n","protected":false},"author":26,"featured_media":8125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,50204],"coauthors":[160],"class_list":["post-8124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-technology","tag-edinburgh-lothians","tag-featured-story"],"yoast_head":"\n