Zoom Food Group, a UK-based food delivery service, is set to close its equity crowdfunding campaign on Seedrs with nearly £600,000 raised. The funding round, which originally sought to secure £200,000, has attracted over 300 Seedrs investors.
Founded in 2017, Zoom describes itself as a bootstrapped, disruptive on demand delivery service operating in Shropshire and Wales.
“Zoom 1hr is a hyperlocal last mile delivery service delivering food, convenience & retail goods within 1 hour.”
Zoom also revealed it experienced rapid growth throughout 2020 (despite the pandemic) and it has plans for a national roll out in 2021.
“With the Online Food Delivery market projected to reach over £5bn in 2021 & grow at an annual rate (CAGR) of 5.6% we are ideally situated to take advantage of a booming market.”
Zoom currently offers four-fold monetisation strategy for our services that has enabled strong revenue growth year on year and provides the business with a consistent and reliable cash flow.
- The first revenue stream is a simple commission structure whereby the company takes a commission on every order placed on the app.
- The second area of revenue generation is a straightforward delivery fee whereby we take a fee on every order that the company delivers
- The third stream comes from drivers. The drivers rent our branded cars for a set fee per delivery
- The fourth revenue line is based on a set price per delivery. This is charged for any last-mile delivery and is set prior to the delivery being made
Funds from the Seedrs campaign will be used to continue the growth and development of the Zoom platform/services. The company is now offering 5.79% in equity at a £9.3 million pre-money valuation through the funding round, which will close next week.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!