Snappy Group secures seven-figure venture debt facility from Virgin Money
Funding supports product development and retailer rollout as the group expands beyond its Snappy Shopper marketplace.
Snappy Group has secured a seven-figure funding facility from Virgin Money’s venture debt team. The company plans to invest across its products, meet enterprise demand and accelerate deployment of its retail technology in the UK.
The facility adds borrowing capacity alongside earlier equity backing. It arrives as annualised grocery sales through the platform exceed £150 million, a trading-volume milestone separate from the new financing.
The group sees further opportunities in order aggregation, which helps retailers manage multiple online delivery channels. CFO Barry McGonagle said the agreement also gives the business room to pursue selected international opportunities.
Use of funds
Develop retail technology product suite
Accelerate UK retailer rollout
Support enterprise and international growth