Supermercato24 raises €13M to improve operations & expand services
Category: #retail  By Paroma Bhattacharya  Date: 2018-06-22
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Supermercato24 raises €13M to improve operations & expand services

Supermercato 24, one of the leading same-day grocery delivery service in Italy reportedly raised €13 million in Series B funding. The funding is led by FII Tech Growth and other new investors like Endeavor Catalyst beside current investors Innogest and 360 Capital Partners.

Like the US based Instacart, customers can order groceries from the local supermarket and receive same day delivery through Supermercato24. Gig economy-styled personal shoppers are used to go to stores and pick products and later deliver them. With an additional charge, groceries are delivered in the same hour.

Besides charging consumers for a delivery charge, the startup also charges a fee to partnering merchants. Supermercato24 claims that it has more than 50 consumer packaged goods customers advertisers on its platforms and more than 15 partnerships with merchants.

Federico Sargenti, CEO, Supermercato24 reportedly said that the customer base of Supermercato24 is dominated by people who intend to spend their time on things other than grocery shopping. The customers are as varied as single professionals, working couples, parents, elderly people and hip youngsters. Grocery shopping can be potentially tiring and needs nearly 3 hours per week, he says, adding that 65% of their shoppers are women and considering that they are very specific in their shopping habits, Supermercato24 will also be offering them with quality products, a wide product range and competitive prices.

Supermercato24 is active in 23 Italian cities and the company says that a number of other cities are already at a profitable contribution margin level. However, Sargenti says that online grocery shopping is still on its early days.

The Italian grocery market is predominantly fragmented with 5 top retailers owning less than 40% of the national grocery market. One major challenge in Italy is that a considerable percentage of people do not live in cities or highly populated areas. Supermercato24 claims that its ability to scale in low density areas gives it an edge over other e-grocery delivery companies.



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Paroma Bhattacharya

Email: paroma.b@news.marketsizeforecasters.com   

Paroma Bhattacharya

Paroma currently works as a content developer for Algosonline, MSF and a series of alike platforms. Fortified with a post-graduation degree in Journalism and Mass Communication, she delved head long into a writing career, creating resourceful and information enriched ...

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