Dundee-founded Snappy Group secures seven-figure funding deal to support UK expansion

A technology company founded in Dundee has secured a major seven-figure funding deal as it prepares for its next phase of growth across the UK.

Snappy Group, the company behind the popular grocery delivery platform Snappy Shopper, has announced a new funding agreement with Virgin Money to help expand its retail technology services and support growing demand from major retailers.

The deal represents another significant milestone for the Dundee-founded business, which has grown from a grocery delivery service into a technology company working with retailers across the country.

From Dundee start-up to national success

Founded in Dundee in 2017, Snappy Group is best known for Snappy Shopper, a platform that allows customers to order groceries and everyday essentials from local convenience stores for delivery.

Since then, the business has expanded considerably, developing technology that helps retailers manage online orders, delivery services and digital advertising.

Today, Snappy Group operates through three main divisions: Snappy Shopper, Snappy Technologies and Snappy Media.

Its technology is used by a growing number of independent and national retailers, including SPAR, Morrisons, One Stop and Co-op.

And the company's growth shows no signs of slowing down.

Snappy Group has revealed that transaction volumes across its platform have reached record levels, while the annualised value of groceries sold through its services now exceeds £150 million.

That figure represents the value of grocery transactions processed through the platform at the current annualised rate, rather than the company's own revenue.

Major funding deal to support further expansion

The new seven-figure funding facility has been secured through Virgin Money's Venture Debt team.

Although the exact amount has not been disclosed, the agreement provides Snappy Group with additional financial flexibility to invest in its technology and expand its services.

The company says the funding will help accelerate the rollout of its products to more retailers across the UK, while also supporting opportunities in selected international markets.

Recent partnerships involving Co-op, SPAR and Musgrave NI have highlighted the growing demand for its technology.

Snappy Group is also seeing increased interest in its Order Aggregation service, which helps retailers manage orders from different online delivery platforms.

Barry McGonagle, Chief Financial Officer at Snappy Group, welcomed the agreement.

"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."

He added that the funding would provide the company with greater flexibility as it enters its next stage of growth.

Andrew Stirrat, Senior Director of Venture Debt at Virgin Money, said the bank had followed Snappy Shopper's progress for several years and was pleased to support its continued expansion.

Another success story for Dundee's technology sector

Snappy Group's latest announcement highlights how a business founded in Dundee has developed into a significant player in the UK's retail technology industry.

From its beginnings in Dundee less than a decade ago, the company has expanded its reach, developed new services and established relationships with some of the country's best-known convenience retailers.

The new funding agreement marks another important step in that journey, providing additional support as Snappy Group looks to build on its recent growth.

And it's another encouraging example of a Dundee-founded technology business making its mark across the UK.