Jiffy raises £20.4m in funding to expand out of London

UK ultra-fast delivery company Jiffy has raised £20.4 million in funding to expand its services outside of London.

Founded in April this year, the firm has now raised a total of £25 million in investment, and now operates eight dark stores in London, aiming to deliver goods to its app users within 15 minutes. It plans to offer a click-and-collect service in the coming months.

In a fiercely competitive market, Jiffy differentiates itself by aiming to compete with supermarkets on final price of the products in delivers. As an incentive to its riders, these are fully employed and not gig economy workers.

Jiffy was founded by Russian e-commerce experts Vladimir Kholiaznikov and Artur Shamalov, and has had funding from a number of venture capital funds including HEARTLAND as it aims at rapid expansion.

Kholiaznikov said: “Our service is about meeting the demands of the ‘need it now’ customer – a group that we predict will continue to grow as customer expectations increase. In fact, the customer of tomorrow isn’t a digital native – but a mobile native – those who are used to accessing anything they need at any time, from anywhere.”

Lise Kaae, CEO of HEARTLAND said; “The Jiffy team has managed to impress us with their ambitious plans and effective execution, and we are excited about the journey ahead operating in a highly dynamic and exciting growth market.”

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