Snappy Group secures seven-figure Virgin Money funding for UK quick commerce

Snappy Group secured a seven-figure funding facility from Virgin Money’s Venture Debt team to support growth across its quick commerce and marketplace platforms in the UK. The company’s annualised grocery gross merchandise value now exceeds £150 million and transaction volumes on its platform have reached record levels.

The funding will be used to accelerate expansion of Snappy Shopper and its broader retail technology platform, which offers marketplace, order aggregation, white-label and retail media solutions to UK retailers. Recent partnerships have named Snappy as the preferred provider for rapid grocery delivery services for Morrisons, Co-op and SPAR. Earlier this year Snappy Shopper launched in Jersey through a collaboration with Alliance Retail to provide Iceland Foods products.

“transaction volumes across the platform are at record levels,” Barry McGonagle said.

Prior to the funding, Snappy Group had seen transaction volumes hit record levels and its annualised grocery GMV exceed £150 million. The company had also secured partnerships with Morrisons, Co-op and SPAR and launched Snappy Shopper in Jersey this year.

What we know

• Snappy Group has secured a new seven-figure funding facility with Virgin Money’s Venture Debt team to support growth across its quick commerce and marketplace platforms in the UK.

• The backing from Virgin Money follows a period of momentum for the Dundee-founded company, with transaction volumes across the Snappy platform hitting record levels and annualised grocery GMV now exceeding £150m.

• Recent partnership announcements with Morrisons, Co-op and SPAR highlights the growing demand.

• The Snappy Shopper offering has also grown onto Jersey for the first time this year, as it partners with Alliance Retail for an Iceland Foods offering.