Growthdeck Closes £2.4m Equity and Debt Fundraise for Luxury Restaurant Delivery Service SUPPER London
by Growthdeck Team
25 October 2021News
Note: The contents of this article are the author's opinion and have not been approved as a financial promotion.
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Announced by the Evening Standard and highlighted as Propel Info’s ‘Story of the Day’ in its well-known Morning Briefing industry newsletter – we have closed a £2.4m equity and debt fundraise for SUPPER London, the delivery service for London’s finest high-end restaurants and iconic stores, which utilises its own vehicles with fully employed drivers.
SUPPER London operates a fleet of unique, custom-made, gyroscopically stabilised delivery vehicles to ensure that food arrives at customers’ homes looking exactly as it did when it left the restaurant or store. Unlike other well-known delivery companies, SUPPER London employs its drivers directly rather than using ‘gig economy’ workers. This allows them to train staff comprehensively and ensure uniform quality of service throughout the customer journey.
SUPPER London counts Estiatorio Milos, Mr Chow, Aquavit and Nobu among its clients, as well as many of the capital’s most popular restaurants. SUPPER London also delivers from premium stores like Harrods, Fortnum & Mason and Hedonism Wines, giving them an ‘on-demand’ option.
This funding will enable SUPPER London to build on its accelerated success during the coronavirus pandemic. Since the start of the pandemic, SUPPER London has increased its revenue by more than 700% and doubled its customer base.
Shaz Hussain, Investment Director at Growthdeck, says:
“We are hugely impressed with SUPPER London’s growth and are excited to join them on the next stage of their expansion.”
“We’re also thrilled to back a player in the home delivery market that employs its riders directly and pays them properly. The market has responded well to this offering and this funding round will help them continue on their current trajectory.”
“With some banks not having the risk appetite to lend to growing companies, debt financing from alternative sources like ourselves can be a fantastic option for these businesses. We expect the demand for these deals to increase in the coming years as a viable alternative to bank lending.”
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