LONDON--(BUSINESS WIRE)--The Foodstuff marketplace brings together ethically conscious foodies, with 'tried & tasted' independent local restaurants, currently in six UK cities. Each order is delivered via 100% emission free vehicles, by drivers that are paid a fair wage for a real job.
The Seed Round was led by Base Investments UK, with participation from - among others - hospitality investor Charlie McVeigh, who also joins the board as Non-Executive Chair. The funding will enable Foodstuff to accelerate its expansion into additional locations across the UK, as well as turbo-charging the future development of the recently-released Foodstuff mobile app.
“We're in a game-changing moment for Foodstuff and this funding gives us the firepower to scale-up and connect loads more foodies, with even more high quality independent restaurants.” said Toby Savill, Co-Founder & CEO. “Our next milestone is to take our brand of 'food delivery with a conscience' to 10 new operating cities in the UK, with a very ambitious plan beyond," said the Co-Founder & CEO.
Shortly prior to the closing of Foodstuff's Seed Round, the Company released its very first mobile app to existing customers, making it easier for new and repeat customers to get great food from 'tried & tasted' restaurants, delivered ethically. The Company anticipates the launch of its mobile app will have a significant positive contribution to customer growth and engagement going forward.
James Perry, Co-Founder & CPO said of the recent mobile app launch, "We managed to reach tens of thousands of repeat customers without a mobile app. After months of website-only ordering we're very happy to serve our loyal customers with an easy-to-use and engaging mobile experience. Since launching the app in mid-November, we’ve already had over 20,000 total downloads.”
The exciting news signals the next phase of the Foodstuff journey. Having delivered their very first order in May 2020, the company has enjoyed an impressive average monthly growth rate in excess of 10% since January 2021, prior to the launch of the Company's mobile app. Foodstuff is currently operational in Cambridge, Bristol, Bath, Oxford, Manchester and most recently Edinburgh. Since launching the app the average monthly growth rate has jumped to 36%. There are big plans for further expansion in 2022 too.
In conjunction with the raise, the Company is also pleased to announce the appointment of Charlie McVeigh to the board as Non-Executive Chair. “I am very proud to be joining Foodstuff’s dynamic team, led by Toby and James. It’s abundantly clear that there is a community of independent restaurants and aspirational foodies out there who do not feel represented by the delivery giants. Foodstuff is already demonstrating in six UK cities that it can offer an ethical, curated, eco-friendly alternative and the accelerating viral success of each successive City launch confirms there is a market out there looking for something new,” said McVeigh.
About Foodstuff
Food delivery with a conscience | Independents only | Riders on living wage | Zero emissions delivery | To learn more about Foodstuff and download the app, visit wearefoodstuff.co.uk and follow us @foodstuff_uk.
