Fieldfisher advises Quiqup on multi-million pound funding round
Fieldfisher has advised Quiqup, the on-demand delivery service, on a Series A funding round.
Fieldfisher has advised Quiqup, the on-demand delivery service, on a multi-million pound Series A venture capital funding round led by Delivery Hero and Global Founders Capital.
After interest from a wide range of international investors, the decision for Quiqup to select Delivery Hero and Rocket Internet was influenced by their experience in supporting and building truly global businesses. Most importantly they are aligned with Quiqup’s ambitions to become a leader in the on-demand delivery space, with a key focus on food delivery.
Delivery Hero (which operates the hungryhouse brand in the UK) is the largest global company in online food ordering. Given Quiqup’s expertise in last mile delivery and Delivery Hero’s global scale, there are extensive synergies and knowledge to be shared between both groups.
Quiqup provides an enhanced delivery experience across many verticals, including food, groceries, fashion and electronics. Whatever you need, Quiqup can get it now, all in under an hour. The app is offering brick and mortar retailers the opportunity to compete in e-commerce by making their products immediately available to the consumer. After launching in September 2014 Quiqup has fulfilled well over 100,000 orders in under a year.
The Fieldfisher team was led by Tom Ward, a Director in Fieldfisher's Private Equity & M&A practice, assisted by IP consultant David Lewis and corporate solicitor Alex James. Speaking about the deal, Tom said: "On-demand mobile services are disrupting many traditional business models and investments in on-demand apps are currently booming. It has been a real pleasure working with Bassel and the team at Quiqup and helping them through these important early stage funding rounds. They have developed a fantastic business in a short space of time and we wish them every success with their growth going forwards."
Quiqup CEO and co-founder, Bassel El-Koussa said: “Fieldfisher have guided us through all of our early stage funding rounds to date, providing clear and no-nonsense legal advice. They gave us invaluable support throughout this investment from Delivery Hero and Global Founders Capital, and we look forward to working with Tom and the team as we continue to grow our business in the UK and internationally.”
Quiqup is available in the App Store and on Google Play. It will also be on a web platform soon. Quiqup was also be a featured launch partner for Apple Pay in the UK.