GetFaster.IO

History

2021: Attracting €1.5 million of investments

On May 19, 2021, it became known that GetFaster.IO, German online retailer food with express delivery, attracted €1.5m as part of the pre-seed round. Investments are aimed at opening MFC (Micro Fulfillment Centers, or, otherwise, dark stores), marketing campaign, development IT Infrastructure and delivery, as well as expanding the team - both line staff and in management - in category management, marketing, development and operations. The leader of the round was AltaIR Capital Igor Ryabenky one of the americanaizrailskothe Russian early stage venture funds. He was supported by the S16 fund of Alexander Shamis (Dostavista, Printio), Andrei Husid (Miro), Mikhail Peregudov (Food Party/Yandex.Chef) and other founders and executives of a number of international companies with Russian roots, venture funds Bramos Capital, Brayne and Optimal Strategy Capital, as well as a number of private investors, including Alexander Kolobov (founder of "" and Shokoladnitsa serial entrepreneur) and Alexander Sysoev (business angel, restaurateur, owner of media SysoevFM and the Russian Restaurant Festival).

The food market - the largest consumer category in the world - has been undergoing a period of significant changes in recent years.

Among the main trends of "disruptive innovations" in 2020-2022 in the food trade market, industry and venture capital experts note the explosive growth of online retailers with express delivery without physical stores.

Key elements of the strategy GetFaster.IO for May 2021, distinguishing the company from most competitors:

• 100% focus on the German market
• Flexible operating and logistics model - allows to serve more than 60% of German households in cities with a population of 25,000 people
• Focus on the mass market - allows you to become a first-choice store for buying daily consumption products at affordable prices

The GetFaster.IO strategy is completely aimed at the German market. This allows you to form a competitive position, significantly increase the efficiency of categorical management, logistics, marketing.

GetFaster.IO launched delivery from the first "dark warehouse" in Dusseldorf in January 2021, and as of May 2021 it is already operating in nine German cities 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.

Over 4 months, the company managed to achieve almost 20% of its customers' household spending on food with an average check of about €30 and a frequency of orders about three times a month. Almost a third of buyers GetFaster.IO over 45 years old, and one in six is under 24 years old.

The range of GetFaster.IO for May 2021 includes more than 1,500 items (more than 2,000 in Berlin), including groceries, fresh dairy products, meat and fish, bread and pastries, drinks and other everyday goods.

Since the beginning of 2021, GetFaster.IO has received convincing confirmation of the main elements of its strategy - a significant proportion of repeated purchases ("retention"), a high average check when offering the main grocery basket for the mass market, similar behavior of customers in large and small German cities, as well as the demand for express delivery with different terms as a convenient alternative to going to the store.

Intensive business development will require further significant investments to aggressively enter new territories and open MFC, develop the assortment, attract customers, increase profitability of operations and improve logistics and IT infrastructure. GetFaster plans to raise additional capital as part of the seed round by the end of summer 2021. The company's goal is to achieve revenue of over €2bn for 4-5 years.