Logistics start-up Quiqup snags £20m Series B
London-based company will use funding to enhance its product offering and fuel expansion both in the UK and internationally
Quiqup, a London-based logistics services start-up recently featured in Tech Pitch, has raised a £20m Series B funding round led by JOBI Capital, with participation from Transmed and existing investors.
Launched in 2014, Quiqup provides on-demand logistics services to consumers and retailers of all sizes and across all industries, which make on-demand pickups and delivery of goods “fast, efficient and affordable”.
Its services include a mobile and web app that allows consumers to shop, pick up and drop off anything from retailers across London; Quiqdash, a web app that enables smaller retailer to instantly order or schedule a delivery, and an API integration service that incorporates the company’s delivery service into larger retailer’ e-commerce solutions.
Since launch, Quiqup claims to have delivered more than 550,000 orders and experienced 170% year-on-year growth. It has 110 employees and over 2,000 self-employed couriers – or ‘Quiqees’ have signed up.
Following its “multi-million” Series A in 2015, this latest finance will enable the firm to fuel expansion to additional major cities in the UK and abroad throughout 2017, and improve the capabilities of its service.
Bassel El Koussa, Quiqup’s CEO and co-founder, said: “Today’s investment brings us one step closer to our goal of bringing on-demand delivery to the mass market, and we’re thrilled to have JOBI and Transmed join us on this venture, as well as to have the continued support of our existing investors.”
Bilal Mekkaoui, managing partner at JOBI Capital, said: “Quiqup has developed an exceptional portfolio of on-demand delivery products, and has already implemented its last-mile logistics offering very successfully across a wide range of retail sectors.
“We see the last-mile delivery space as having huge market potential not just in the UK but globally, and have been impressed with how quickly Quiqup has established itself as a leading player in the sector.”