Italy's Supermercato24 Secures €13m In New Funding
Italian-based online shopping service Supermercato24 has secured €13 million in new funding.
The new investment was headed by the FII Tech Growth and Endeavor Catalyst funds, who join current outside investors 360 Capital Partners and Innogest in funding the service.
The capital increase is focused on supporting the company's growth in Italy, as well as its expansion abroad. Also planned is the expansion of customer services at the business and the doubling of the current workforce of 60 people.
Established in 2014, Supermercato24 is currently active in 23 Italian provinces and over 400 municipalities.
Supermercato24 has signed more than 15 partnerships with major Italian retailers and offers more than 65,000 references, including private-label products.
The company recently signed partnership agreements with Coop Lombardia and Maxi Di (Gruppo Selex, Famila), as well as the PAM chain.
It reported a turnover of €7 million in 2017.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.