FII leads €13m round for Supermercato24

Existing shareholders Innogest and 360 Capital Partners also took part in the funding round, alongside newcomer Endeavor Catalyst.

Supermercato24 will use the fresh capital to bolster its growth in Italy, consolidate its market position and expand abroad. In addition, the company plans to double its staff to 120 people by the end of 2019, including the appointment of new data scientists, product managers and marketing and logistics experts.

FII deployed capital via its FII Tech Growth Fund, a vehicle launched in 2017 with a €150m target. The fund invests in majority and minority stakes of small and medium-sized Italian companies with a turnover of €5-70m by deploying equity tickets between €5-20m.

Previous funding
Supermercato24 raised an initial round of €155,000 from several business angels in January 2015, followed by a $360,000 seed round led by 360 Capital alongside venture capital firm Innogest in February 2015. Subsequently, Innogest led a €3m funding round for the company with the participation of 360 Capital in July 2016.

The business raised an additional €320,000 investment from Club degli Investitori and Italian Angels for Growth in February 2017.

Company
Founded in 2014 and based in Verona, Supermercato24 is an online grocery platform that offers same-day delivery to its customers from local supermarkets. The company has 15 partnerships with merchants and operates in 400 cities and towns across Italy.

People
Fondo Italiano d'Investimento – Mauro Pretolani (senior partner).
Supermercato24 – Federico Sargenti (CEO).

Advisers
Company – Orrick (legal).

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• Topics
• Expansion
• Southern Europe
• Consumer
• Fondo Italiano di Investimento
• Italy
• Venture