GetFaster.io

GetFaster.io - German express food delivery service. It was founded by the ex-director for business development of the Pyaterochka trading network Dmitry Bergelson, as well as entrepreneurs Anton Zakharov, Georgy Skalsky and Kirill Solonitsyn.

History

2021

Receiving €7.5 million investment

Startup GetFaster, operating in the soft discounter format with the ability to quickly deliver, attracted more than $1 million in investments from the Angelsdeck Venture Investors Club as part of a €7.5 million seed round. This became known on November 19, 2021. The money will go to territorial expansion, the growth of the customer base and the development of the assortment. Other participants in the round include AltaIR, St. Nicholas Trust, Raison Asset Management, Fores Ventures and a number of other institutional and private investors.

During the nine months of operation, GetFaster increased coverage to 44 cities while maintaining weekly growth at 10%. The company's goal is to become a leader in the mass market for the rapid delivery of German products, covering all German cities with a population of 25,000 people, as well as smaller cities in close proximity.

In just 10 months, we have fully confirmed all key hypotheses. In particular, typical German families switch to ordering a weekly grocery basket in online format through GetFaster and stay with us. Secondly, consumption in large and small cities through GetFaster does not differ from each other, while in other segments we notice a significant difference. In addition, we managed to build an effective supply system and achieve a very high gross margin. We were able to achieve a high level of efficiency both in terms of expansion and order servicing. As a result, already in August 2021, we received a positive unit economy of regular orders, "said Dmitry Bergelson, co-founder and director of GetFaster development.

The deal GetFaster has all the signs of a high-quality venture transaction for the Angelsdeck club: the growth potential is due to the large food market in Europe (Germany) and the aggressive dynamics of the project, and the peculiarity is that it is almost impossible to enter such companies with small checks at the current stage of development and valuation. The interest in this investment opportunity on the part of the club participants exceeded the initial allocation by more than two times, but we managed to agree on expanding the slot for AngelsDeck. As an early investor in the project, I am very glad to be able to continue the partnership with the project and do it in the company of like-minded members of the club, "said Andrei Vyshlov, member of the AngelsDeck club, head of the AngelsDeck representative office in London and syndicator of the transaction.

Attraction of 1.5 million euros of investments

On May 19, 2021, it became known that the company attracted GetFaster.io investments in the amount of €1.5 million. Most of the funds were invested by the AltaIR Fund of Igor Ryabenky. Also in the round of financing pre-seed took part investment funds S16 Angel Fund, Bramos Capital, Brayne and Optimal Strategy Capital.

GetFaster.io co-founder Dmitry Bergelson in a conversation with RBC said that the funds raised will go to the opening of new warehouses, marketing campaigns, the development of logistics and IT infrastructure, as well as the expansion of the team.

According to Bergelson, the company plans to attract another €30 million by the end of the summer of 2021 "to aggressively enter new territories," develop the assortment, increase the profitability of operations and improve infrastructure. The company's goal is to achieve revenue of over €2 billion in four to five years.

Founded by the former top of Pyaterochka, the product delivery service in Germany GetFaster.io attracted €1.5 million

GetFaster.io launched delivery from the first darkstore in Dusseldorf in January 2021, and by May 2021 the service operates in nine German cities, including Dusseldorf, Essen and Berlin, delivering up to 360 orders per day. Depending on the address and the buyer's wishes, the order is delivered in half an hour, one and a half or two hours, or by a certain time.

The range of services includes more than 1,500 items, including groceries, fresh dairy products, meat and fish, bread and pastries, drinks and other everyday goods.

According to GetFaster.io representatives, the online retail market is one of the most promising business areas in the world. Germany, despite the first line in the European food market, does not yet have developed delivery services.^[1][2]

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