Crisp, an Amsterdam-based online supermarket exclusively focused on fresh produce, has raised € 30 million in Series B funding led by Target Global and owned by Keen Venture Partners and the co-founders of Adyen and Takeaway .com are involved. So far, Crisp has raised a total of 42.5 million euros. The money will be used to expand in the Netherlands and eventually throughout Europe.
According to Crisp, the unique selling point is seasonal products that are sourced directly from over 600 small and high-quality manufacturers at an affordable price in the Netherlands. Customers order via a smartphone app and deliveries are made the next day within a time window of 1 hour. It also uses a 100% electric fleet serving large cities and suburbs and its model is to have no food waste.
The European food market is currently worth 2 trillion euros, but access to customers for high quality, smaller producers is still difficult and is being blocked by the incumbents. Crisp takes advantage of consumers who go online and want fresher food.
Tom Peeters, CEO and co-founder of Crisp, told me in an online interview: “The difference to our model is that we offer quality and comfort. So fish is super fresh fruit and products are super fresh, etc. We generally stay away from the usual supermarket regulations that everything is always there and that they have a long shelf life. We’d rather build a very short chain sourcing right at the source and bring it to you in a very convenient way. “
He said it wasn’t a 15 minute delivery but the next day to ensure freshness. “The typical customer is a young family. An average order consists of 45 products. Instead of offering all brands, we have integrated the long-tail of food manufacturers into our digital market and obtained them from over 600 food sources. “
He said: “Groceries in Holland cost 40 billion euros, in Germany 200 billion. I think Europe together has over two or three trillion. This means that we basically don’t have to spread out across many countries to build a healthy business, not just through healthy products. That’s why we earn money with every customer order. “
Founded in 2018 by serial entrepreneurs Tom Peeters, Michiel Roodenburg and Eric Klaassen Crisp, the company claims to be one of the fastest growing supermarkets in the Netherlands today. Sales grew seven times in 2020, and more than 85% of sales come from repeat customers, it said.
Bao-Y van Cong, Investment Director at Target Global, headquartered in Berlin, said, “Crisp is building a world-class technology platform that is of value to both consumers and producers. The way we buy our groceries hasn’t changed much since the 1950s, resulting in inefficiencies in quality, affordability, and convenience. Crisp reflects the changing relationship consumers have with food today: the European grocery shopping market is starting to move quickly online, which the pandemic is accelerating significantly. At the same time, we are seeing a massive increase in the demand for fresh and transparently sourced food. “