Today Crisp, the Dutch online-only supermarket that prioritises ultra fresh and transparently sourced products, announced that it has raised €30 million in Series B financing. The round was led by leading European investor, Target Global, joined by Keen Venture Partners and some of Europe’s top entrepreneurs, including founders of Adyen and Just Eat Takeaway.com, as well as Thomas Plantenga, Vinted’s CEO. Crisp has now raised a total of €46 million since launching in 2018.
The startup states that the European grocery shopping market is expected to reach almost €2.3 trillion by 2022 and is moving online fast. At the same time, a McKinsey study shows that the demand for fresh and transparently sourced food has been accelerated by the pandemic. Crisp is leading this market evolution by using proprietary technology and a zero food waste model to make the supply chain shorter and more transparent, building a lasting solution to the pitfalls of traditional online supermarkets.
Founded in 2018 by serial entrepreneurs Tom Peeters, Michiel Roodenburg and Eric Klaassen, to help people eat better, Crisp’s now 500-strong team offers ultra-fresh, seasonal products sourced directly from local suppliers. Ordered through a mobile shopping app, customer orders are delivered within one-hour time slots across the whole of the Netherlands.
In less than three years, Crisp has become a fast growing online supermarket in the Netherlands, increasing sales sevenfold in 2020. The company has been profitable per customer order over the past year and can rely on a loyal customer base – 85% of sales last year came from repeat customers.
“Our growth is about building a healthy company,” said Tom Peeters, CEO and co-founder of Crisp. “Healthy in terms of our offering, which puts fresh and in-season food first, and healthy in the sense of operating responsibly. Our dreams are big when it comes to developing smart and sustainable technology, and we are backed up by a growing and incredibly dynamic team. The fact that we are once again meeting investors who share our belief and goals strengthens our mission.”
Bao-Y van Cong, Investment Director at Target Global, headquartered in Berlin, said: “We are impressed with the founders, the team, and the brand. The passion and dedication for fresh, locally sourced, and doorstep-delivered food come to life in everything they do, from carefully selecting suppliers and checking the product’s quality, to the delivery. Crisp is building a world-class technology platform that is of value to both consumers and producers. The way we buy our food has not changed a lot since the 1950s, creating inefficiencies in quality, affordability, and convenience. Crisp reflects the changing relationship that consumers today have with food: the European market for grocery shopping is starting to move online rapidly, super-accelerated by the pandemic. At the same time, we see a massive surge in demand for fresh and transparently sourced food. I firmly believe that the rise of food and groceries shifting to online is here to stay.”
With the new financing, Crisp will enlarge its 100% electric vehicle fleet, substantially expand its thoughtful assortment, and strengthen its network with high-quality, smaller producers for its fast-growing customer base.
“It’s impressive how Crisp is enabling a radical shortening of the supply chain with distinctive, self-developed technology, to the benefit of customers and producers”, said Robert Verwaaijen, General Partner of Keen Venture Partners.
