Milan-based online grocery shopping platform Everli has raised $100 million in a series C round.
This is Everli’s largest raise to date, and was led by Verlinvest and saw participation from existing investors FITEC, 360 Capital, Innogest and DIP, as well as onboarding new investors Luxor, DN Capital, C4 Ventures, and Convivialité Ventures.
The new funding is expected to further propel Everli’s European presence and scale up the team in the tech, product, operations, marketing, and finance departments.
“Everli combines its tech & data excellence with the grocery retail experience of its partners and this combination provides it with the perfect position to cement itself as the European eGrocery market leader, delivering the best experience to consumers, value to retail partners, and digital activation to brands,” comments Simone Sallustio, Executive Director at Verlinvest.
Founded in 2014, Everli has developed partnerships with some of Europe’s largest and best known household brands including Lidl, Kaufland and Carrefour and offers home access to over 300,000 products acros 70 cities in Italy, Poland, Czech Republic, and France.
The platform allows at-home shoppers to select their favourite grocery market and order products with a same-day delivery via Everli’s dedicated team of shopper/deliverers. They are the first player in the same-day space in small-to-medium density areas, a sector previously underserved by online grocers.
2020 saw Everli’s sales (almost) quadrupled to $130 million, reflecting the need for home delivery of groceries. This type of growth has attracted the attention of CPG, which is now increasing their advertising and promotions spend with Everli, needless to say, to the delight of investors.
“We’ve been witnessing an overwhelming amount of capital injection on the food & grocery delivery market and carefully considered the type of companies we would be backing. Ultimately, we’re all about building European and global leaders and we believe Everli is incredibly positioned to achieve that by already being the clear market leader in Italy and Poland,” comments C4 Ventures’ Boris Bakech. “We also believe the future of commerce has to involve retailers, not bypass them. Everli is all about partnering with retailers and CPG brands. Last but not least, their asset light model ensures they can secure a larger geographical footprint than the booming dark store models, including less dense areas.”