Snappy Group lands seven-figure funding boost

A Scottish retail technology company has secured a seven-figure funding facility which it says will provide further “firepower” to accelerate its growth, expand its services and capitalise on rising demand across the UK and beyond.

Dundee-founded Snappy Group has agreed the financing with Virgin Money’s Venture Debt team, providing additional investment capacity as demand for its marketplace and retail technology solutions continues to rise.

Best known for its rapid grocery delivery platform Snappy Shopper, the business has evolved into a wider technology provider offering order aggregation, white-label and retail media services.

Bosses say the new facility will support further product development, meet growing demand from larger retail partners and create opportunities for expansion into selected international markets.

Barry McGonagle, chief financial officer at Snappy Group, said: “We are delighted to secure this facility with Virgin Money at such an important moment for Snappy. 

“Demand for our products and services is growing rapidly, transaction volumes across the platform are at record levels, and the market opportunity in front of us is significant.

“This facility adds further firepower alongside previous equity investments and gives us the capital and flexibility to accelerate into that opportunity with confidence. 

“We have known the team at Virgin Money for several years and are pleased to be partnering with them as we enter this next phase of growth.”

Founded in 2017, Snappy Group now operates through three divisions: Snappy Shopper, Snappy Technologies and Snappy Media.

The funding follows a period of strong growth, with transaction volumes reaching record levels and annualised gross merchandise value across its grocery operations exceeding £150 million.

Recent partnerships with major retailers including Co-op, SPAR and Musgrave have further strengthened demand for its technology, particularly its Order Aggregation product, which helps retailers manage rapid delivery services.

Andrew Stirrat, senior director of venture debt at Virgin Money, added: “We have closely tracked Snappy Shopper’s progress over several years and have been consistently impressed by the strength of the business and its sustained growth. 

“We are delighted to support one of Scotland’s leading scale-up technology companies through this lending facility and look forward to backing the next phase of its ambitious expansion.”

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