Jiffy plots ‘nationwide’ expansion after £20m investment

Jiffy has secured £20.4 million in funding amid concern that the online grocery market is being taken over by delivery titans.

It marks a major jump since the startup’s initial raise of £2.6 million half a year ago.

Jiffy has eight stores and 20,000 customers across London, and could expand outside the capital inside 2021.

“We are definitely aiming to cover London inside of the M4 by end of the year,”  co-founder Vladimir Kholiaznikov told TechCrunch.

READ MORE: UK ‘quick commerce’ market worth £1.4bn

“Jiffy might move to towns as a pilot this year but we will see later.”

He added that any towns with more than 100,000 people “are on our radar” as Jiffy becomes a “nationwide company”.

Its typical customers are said to be families and middle-aged shoppers drifting away from convenience stores and online weekly shops.

“We are betting this trend will only accelerate as we become a more mature service,” Kholiaznikov said.

However, it comes after a number of grocery minnows were gobbled up by multinationals.

The US unicorn Gopuff acquired Fancy and Dija this year in a bid to move into the UK and EU market.

It was also rumoured that German startup Gorillas could be bought by DoorDash, the delivery giant, in a “fire sale”.

Jiffy’s funding round was led by family-owned investment company Heartland.

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