INSUBCONTINENT EXCLUSIVE:
Leading the round is FII Tech Growth, with participation from new investor Endeavor Catalyst, and current investors 360 Capital Partners,
and Innogest.Similar to Instacart in the United States and claiming to be the leader in Italy, Supermercato24 lets customers order from
local supermarkets for delivery
or for an added cost within an hour.The company charges a delivery fee to consumers, but also generates revenue from fees charged to
partnering merchants, and, notably, through advertising
Supermercato24 says it has more than 15 partnerships with merchants, and has more than 50 consumer packaged goods customers (CPGs)
competitive prices and qualitative fresh products
Plus, they expect a comfortable, convenient and same-day delivery
Supermercato24 says a number of cities are already profitable at contribution margin level
That said, Sargenti concedes it is still early days in terms of the switch from offline grocery shopping to online
He also says that Southern Europe has been historically limited by a lack of supply and that the way to address this is a collaboration
between traditional grocery retailers and tech companies like Supermercato24, a model that he insists can scale in both large and small
cities.The Italian grocery market is particularly fragmented, too, with the top 5 retailers owning less than 40 percent of the national
grocery market, apparently
This arguably makes it more ripe for a marketplace rather than traditional e-grocery delivery model
will be used to improve operations and product both for customers and for merchants, as well as to expand the service to new markets
