Exclusive restaurant delivery service SUPPER to raise further funds
- Michelin-starred Hide, Veeraswamy among restaurants on platform
- User base has swelled more than 50,000 during Covid
- Delivered goods hit £1.5m in February alone
- Uses own fleet and employed drivers not “gig economy workers”
Premium London restaurant delivery app SUPPER looking to raise a further £1.5m growth capital through Growthdeck, the private equity investment firm, as part of £5m funding round.
SUPPER is an exclusive home delivery provider for high-end restaurants in central London. It counts Michelin-starred Hide and Veeraswamy among its roster of clients, as well as many of the capital’s most popular dining spots, including Nobu, C London, Zuma, Roka and Park Chinois. SUPPER also delivers from Harrods Food Hall Fortnum & Mason and a full selection of drinks from Hedonism. ‘on-demand’.
Since the start of the Covid-19 pandemic, SUPPER has more than doubled its customer base to more than 80,000 users It aims to increase its customer base to over, 120,000 and the number of restaurants on the platform to 300 by the end of 2021.
Gary Robins, head of business development at Growthdeck, says: “We’re delighted be launching a second round of investment for, SUPPER which has already cemented itself as the go-to food delivery service for fine dining, upmarket restaurants and high-end retailers.”
“This is a clear gap in the restaurant delivery market that SUPPER has managed to carve out.”
The business operates a fleet of custom-made gyroscopically stable delivery vehicles to ensure that food arrives at customers’ homes looking exactly as it did when it left the restaurant. All drivers are employed directly by, SUPPER with no use of ‘gig economy’ workers, allowing it to train staff comprehensively and ensure uniform quality of service.
SUPPER will use the capital it raises from Growthdeck to expand its operations in London including increasing the number of restaurants on the platform, executing a DIGITAL marketing strategy, expanding it’s user base and a wider geographic spread with the development of localised partner kitchens.
SUPPER is led by an experienced team including:
- Founder and CEO Peter Georgiou, a former Head of Futures and Options at Daiwa Securities and prior to SUPPER a successful Self Financed Derivatives Trader.
- CTO Igor Stansisic, an experienced Solutions Architect with 20 years’ experience who previously held senior roles at Ryanair and Van Der Lande
COO James McQuillan, A highly motivated and successful leader, with 20 years of experience working in international CEO/General Manager/transformation roles, including Tesco, Kifli and Talk Talk. - CFO Jonathan Price ACA, An entrepreneurially minded business leader, with a demonstrable record in start-ups, designing next generation IT architecture, building finance functions and driving fast-track organisational growth through to sale and exit
Adds Gary Robins: “SUPPER has achieved its success almost purely through word of mouth and awareness of the differentiated service and bikes was key to this. Greater investment now in consumer marketing will increase brand awareness and grow the number of loyal customers.”
“The trend towards home deliveries was taking place long before lockdown but the past year has accelerated and entrenched the growth of this market.”
“SUPPER has proved extremely popular during the pandemic, allowing consumers to get the taste of their favourite top end restaurants from the comfort of their own home. However, this model goes beyond lockdown. As bookings get overrun for big May re-openings, SUPPER makes it possible for anyone in central London to order from the West End’s most exclusive restaurants in minutes.”
Growthdeck’s investment in SUPPER qualifies for tax reliefs under the Enterprise Investment Scheme (EIS). EIS is an investment scheme which allows private investors to make tax savings by investing in growth businesses. The EIS allows investors to:
- Invest up to £1m per annum
- Reclaim 30% of the cost of investment against their income tax bill
- To not pay Capital Gains Tax (CGT) on any gains realised after three years
- Claim further income tax relief should an investment result in any form of loss
- Defer capital gains tax due on the sale of another asset by re-investing the gain in an EIS-qualifying company
- Save inheritance tax on any EIS-qualifying shares held for over two years