Cloud Retail (t/a Jiffy) secures £20.4 million Series A investment led by HEARTLAND

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Ultra-fast delivery app Jiffy continues its takeover of London’s on-demand grocery sector thanks to another $28M in funding

In addition to $7M seed capital raised since launch in April, the London-based rapid delivery company Jiffy Grocery announces another $28M raised to fund continued growth in the UK. Led by family-owned investment company HEARTLAND, the Series A Round also saw the participation of a Boston-based international venture capital fund Flint Capital, gaming firm Playrix and existing investors Baring Vostok Capital Partners and LVL1 among others.

Founded by Q-Commerce veterans Vladimir Kholiaznikov (ex-CEO of Russia’s leading e-grocery player X5 Food Tech) and Artur Shamalov early in 2021, Jiffy Grocery builds technology for full-stack rapid grocery delivery. The company operates local small fulfilment centres, referred to as dark stores, and uniquely positions itself as an open Q-Commerce platform with plans to leverage fresh funds to further invest into its best-in-class tech platform and further expand its retail operations in London and further afield in the UK.

In under a year, Jiffy has raised a total of $35M since it launched in April 2021 with eight live London stores and counting, a fresh produce offering under the Jiffy fresh brand and an upcoming Click & Collect service at two of its branches.

Unlike other delivery apps relying on self-employed contractors sourced through the gig economy, Jiffy deliveries reach customers on the back of electric bikes and mopeds captained by employed riders. Decked out in eye-catching branded merchandise, a recent partnership with Swiss running shoe company On-Running even helps Jiffy riders make good on the ultrafast promise of this rapidly expanding brand. 

Co-founder Vladimir Kholyaznikov said;

“The pandemic certainly accelerated consumer’s needs for super-fast and convenient groceries, something supermarkets just can’t deliver. Jiffy only launched five months ago yet we are hugely proud of the rapid yet sustainable growth we have achieved.”

“Our service is about meeting the demands of the ‘need it now’ customer – a group that we predict will continue to grow as customer expectations increase. In fact, the customer of tomorrow isn’t a digital native – but a mobile native – those who are used to accessing anything they need at any time, from anywhere. But what is more important is that we are developing a “get it when you need it” behaviour in online grocery, something that didn’t really exist before as a purchase scenario.” he continues.

Lise Kaae, CEO of HEARTLAND said;

“The Jiffy team has managed to impress us with their ambitious plans and effective execution, and we are excited about the journey ahead operating in a highly dynamic and exciting growth market.

“We strongly believe in the large and untapped potential of the e-groceries market in the UK and the ultra-fast delivery business model developed by Jiffy. The company is led by a very experienced team of founders and the current round would enable Jiffy to further accelerate growth. We are glad that the fund of Baring Vostok is a part of this exciting story.”

Ends

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Safiya Marzook

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