Cheshire-based grocery delivery firm, Beelivery, has secured a £1m investment from Greenbank Capital.
UKTV Ventures, a commercial subsidiary of the British BBC, is also a party to the agreement and will be providing airtime for an advertising campaign for Beelivery.
The investments from UKTV and GreenBank will enable Beelivery to accelerate its business strategy as it seeks to gain 450,000 new customers over the next two years.
Commenting on the completion of the first part of the planned investment into Beelivery, 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. We are delighted to be involved with such an exciting business run by a first-class team and we are very much looking forward to helping them achieve their ambitious goals”.
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.”
Lee Parkinson, Co-Founder and CEO of Beelivery, also commented: “The significant investments from UKTV and GreenBank will allow us to accelerate our growth, 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.”
Beelivery, which specialises in quick delivery, provides two delivery options – “now” which offers delivery within 60 minutes (achieving an average of 46 minutes across the whole of the UK) and “today” which offers delivery slots within the following 24-hour period. Orders can be placed by customers, and deliveries are carried out by a team of independent drivers, 24/7, 365 days a year.
Beelivery was founded in 2015 and just under £8m of orders were handled in the last financial year to September 2020 generating a profit at an EBITDA level. Having demonstrated the robustness of its business model Beelivery is using the GreenBank and UKTV investments to help rapidly scale the business, with management targeting orders of over £370m in the year to end September 2023.
GreenBank is planning further investments in the company by the beginning of September.
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