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🦄 Unicorner Startup of the Week: Weezy
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✍️ Notes From The Editors
Hope you're having a great start to the week! If you aren't already following us on Clubhouse, check us out at @arek and @ethan_k. We still have a few invites left, so reply if you need one 📬
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Groceries delivered in 15 minutes
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Weezy offers rapid delivery of essential groceries across London. Customers use the Weezy app to select and pay for products on demand which are delivered in 15 minutes by a network of drivers on pedal cycles and electric mopeds. Groceries are sourced from wholesalers, independent bakers, butchers, and local markets and kept in ‘dark stores’ across the city. This hyperlocal fulfillment center model facilitates fast picking, packing, and delivery.
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💰 Business Model
Weezy offers groceries at supermarket prices with a flat delivery fee of £2.95 ($4.10).
📈 Traction and Fundraising
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Raised $20 million in Series A from Left Lane Capital, DN Capital, and Heartcore Capital in January 2021
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Raised $1.3 million pre-seed funding from Heartcore Capital and angel investors including former executives from United Kingdom retailers Ocado, Tesco, Sainsbury’s Chop Chop, and Deliveroo, as well as Groupon founder Chris Muhr in August 2020
👫 Founder(s)
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Kristof Van Beveren, CEO: Previously VP Marketing & Sales Development @ Showpad, Jr. Associate Partner @ McKinsey & Company, Commercial Initiatives Manager @ Procter & Gamble, Aerospace Engineering MSc @ KU Leuven University, Mechanical Engineering and Business Administration BSc @ KU Leuven University, CS BS @ PHL College
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Alec Dent, COO: Previously VP of Operations @ Drover, Business Development Manager @ BlaBlaCar, Country Manager (France) @ BBA Reman, Social Science of the Internet MSc @ Oxford, Economics and Management BA @ Oxford
🔮 Our Analysis
For “time-poor professionals and parents,” Weezy offers a quick solution to essential grocery shopping. Through its hyperlocal fulfillment center model, Weezy averages 15 minutes per delivery, a clear advantage over larger competitors like Amazon Prime (1-2 hours via supermarket chain Morrisons) and Sainsbury’s Chop Chop (up to 1 hour via courier company Stuart). The pandemic has accelerated consumer demand for grocery deliveries, transforming it into a market now valued at £14.3 billion ($20 billion) in the UK alone. Weezy plans to meet this spike in demand by opening at least 40 more fulfillment centers across London and the UK by the end of 2021. Moreover, the recent announcement on their LinkedIn of a global expansion to New York, Canada, Mexico, Israel, UAE, Germany, Netherlands, France, Sweden, and Australia makes it an exciting company to watch. However, under its existing model, Weezy remains restricted by the location of its fulfillment centers and the variety of groceries it can hold in stock at any one time. With companies like Deliveroo moving into grocery deliveries and other newcomers vying for market share, Weezy continues to face fierce competition.
📚 Further Reading
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Made with 💜 by the Unicorner Team 🦄
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🎁 Bonus Content!
Speaking of competition in the grocery delivery space, Fridge No More (based in New York) recently raised a $15.4 million Series A, and Deliveroo (also in London) has filed for a $1.4 billion IPO. If you're interested in learning more about the space, here's another TechCrunch article discussing Deliveroo's financials leading up to the IPO. |
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