Crisp, an Amsterdam-based supermarket app, has raised €35 million in a Series C funding round. Having already banked €121 million since 2018, Crisp says that it intends to use the new investment capital to continue to “build a better food system”.
The Crisp capital was provided by existing investors Keen Ventures, Target Global, Adriaan Mol (Mollie, Messagebird), and Sander van der Laan (Ahold, Action, Douglas). New members to Crisp’s cap table include John Caspers (Adyen), Sanne Manders (Flexport), Thomas Plantenga (Vinted), and family offices including Bookmakers Investments, Timeless Investments, and Strikwerda Investments.
Warmth in the cold
In light of the cooling off of investments in, and considerable consolidation of, the grocery and delivery sector, raising €35 million should be a sign of approval for the Dutch outfit.
"We are proud of this funding round, in the current challenging tech climate. We’ve proven to investors we can stay on course with a healthy product and business model, in a turbulent economy,” said Crisp co-founder Tom Peeters.
The company is doing more than just staying the course, reporting continued growth at 30 percent driven by higher margins, customer loyalty, and a markedly different product offer.
"A typical basket is a weekly shop of 30 products, with a value of €85, and 90 percent of orders come from repeat customers," explained Peeters.
Farm to fork
As for the USP, rather than off-the-shelf products available at the corner shop, Crisp has built a software and operations system specifically targeting local and seasonal products and getting them from farm to fork in the shortest time and route possible.
B Corp certification
In so much, the company reports that it's now being audited to become a B Corp certified organisation and will end the year with a 100 percent carbon-neutral balance sheet.
Speaking of balance sheets, according to the company, it's been profitable at order level since 2020 and expects to break even in the Netherlands before next summer.
Lead image via Crisp. Photo: Uncredited.