Beelivery bags funding and targets 450,000 new customers
UK-based on-demand grocery delivery business, Beelivery, has secured a £4.5 million investment.
This will be provided by UKTV Ventures and GreenBank Capital.
Beelivery, which was founded in 2015, will use the cash to accelerate its business strategy as it embarks upon its first TV campaign and seeks to gain 450,000 new customers over the next two years.
Sheena Amin, Director of UKTV Ventures, says: “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 its 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.”
The startup has also appointed GreenBank as its merchant bank with a view to listing on the Canadian Securities Exchange or another international exchange as soon as possible, and to act as adviser on any future fund raisings.
GreenBank will also appoint one director to the venture’s board.
Lee Parkinson, Co-Founder and CEO, Beelivery, comments: “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.”