Beelivery secures £4.5m to expand customer base

Grocery delivery service Beelivery has secured a £4.5 million investment to help it attract 450,000 new customers over the next two years.

It marks the latest stage of the company’s development during the pandemic, with sales growing 300 per cent in the first six months of lockdown.

GreenBank Capital, a Canadian merchant bank, invested £2.5 million, while the broadcaster UKTV provided the remaining £2 million.

READ MORETesco profits plummet 20% despite surge in grocery sales

“The 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,” Beelivery chief executive Lee Parkinson said.

As part of its deal with UKTV, Beelivery has access to advertising slots across the broadcaster’s seven channels.

A 12-month advertising campaign is expected to launch in the summer on Alibi, Dave, Drama, Eden, Gold, W and Yesterday.

“It’s an exciting moment to be launching Beelivery’s first ever TV campaign” said UKTV ventures director Sheena Amin.

“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.”

Eyeing global expansion, the grocery company has made Toronto-based GreenBank its merchant bank with a view to listing on the Canadian Securities Exchange.

“Beelivery is an exceptional business with real potential to become best in class in the very fast-growing and global online grocery delivery market,” GreenBank chief executive David Lonsdale said.

The news comes after a Financial Times report that grocery delivery services have seen almost $14 billion in global investment since the start of the pandemic.

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