Jiffy Grocery secures $28 million growth funding
London-based Jiffy Grocery has raised $28 million to fund growth in the UK.
Led by investment company Heartland, the Series A round also included the participation of Boston-based international venture capital fund Flint Capital, gaming firm Playrix and existing investors Baring Vostok Capital Partners and LVL1 amongst others.
Founded by Vladimir Kholiaznikov and Artur Shamalov early in 2021, Jiffy Grocery operates local small fulfilment centres. The new funding will be used to invest in its tech platform and further expand its retail operations in London and elsewhere in the UK
Jiffy has raised a total of $35 million since it launched in April 2021 and now has eight live London stores and a fresh produce offering under the Jiffy fresh brand. It is also planning to offer a click and collect service at two of its branches.
The company’s deliveries are sent to customers on the back of electric bikes and mopeds that are captained by employed riders.
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.”
