UK-based on-demand grocery delivery business, Beelivery, bagged £4.5 million investment to further strengthen its position as a leader in the grocery delivery market segment.
Intends to accelerate business
The investment round was led by UKTV Ventures and GreenBank Capital Inc, a merchant banking business that is listed on the Canadian Securities Exchanges. The fresh fund will let Beelivery accelerate its business strategy as it seeks to gain 450,000 new customers over the next two years.
Beelivery agreed to appoint GreenBank as its merchant bank with a view to listing on the Canadian Securities Exchange or another international exchange as soon as possible. Also, it will act as an adviser on any future fundraisings. The GreenBank will also appoint one director to Beelivery’s board.
Sheena Amin, Director of UKTV Ventures, said: “I’ve been thoroughly impressed with Beelivery’s growth to date and am excited to see how this investment will help the company scale to the next level. It’s an exciting moment to be launching Beelivery’s first-ever TV campaign and helping to showcase the amazing service it has to offer customers at a time when it’s needed the most. With a compelling customer proposition coupled with value for money, I believe Beelivery is well placed to serve customers’ needs in a growing segment of the grocery delivery market.”
Commenting on the Beelivery agreement, and growing relationship, David Lonsdale CEO of GreenBank Capital said: “Beelivery is an exceptional business with real potential to become best in class in the very fast-growing and global online grocery delivery market. As with our other investments, we seek to build long lasting and growing relationships with our investee companies and we are therefore delighted to have the prospect of being appointed advisers to Beelivery as we cement the relationship going forward.”
Lee Parkinson, co-Founder and CEO of Beelivery commented: “These significant investments will allow us to accelerate our leadership position, continue to increase brand awareness, as well as bring new innovations to our unique offering for our customers. The confidence our consumers have shown over the past 12 months has been excellent, and the feedback around ‘reliability’ from our corporate partners during the pandemic has also been outstanding. The feedback is testament to our business model and hardworking community of drivers and support staff.”
Rapid delivery within 45 minutes
Beelivery was founded by Lee Parkinson and Yazan Bin Mohammad in 2015. The company offers two convenient delivery options – same-day delivery and a rapid delivery within 45 minutes. It offers the lowest price in the UK for the essential products including milk, bread, eggs, bakery items, meat, fish, and more. The delivery costs £3.50 with a £0.49 service charge. Orders can be made 24/7 and the minimum order value is £40 in the top-up offering and £12 in the rapid delivery offering.
Chairman and co-founder of Beelivery, Yazan Bin Mohammad said: “Now more than ever, we have seen that being able to access groceries and household supplies without going to the shops is essential. As other grocery delivery services have struggled to cope with demand, Beelivery has continued to keep delivery times short and fulfilment rates high through its unique crowd-sourced delivery model.”