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GetFaster

E-commerce

GetFaster — e-groceries startup from Germany. The company delivers consumer goods from its own dark stores. 

GetFaster creates wow-effect by fast delivery — but retains customers with a balanced assortment and affordable prices every day. The delivery is made online via mobile or web, assembled in a dark store, and delivered by couriers on different types of transport. The company is already operating in 44 German cities. 

Official website: http://getfaster.io/

Headquarter: Dusseldorf, Germany

Why to invest in GetFaster?


  • The service has launched in 44 German cities for the last 10 months only

  • GetFaster delivers goods from its own dark stores

  • In 2020 online sales of grocery products in Germany grew on average by 39.9%.
  • Venture investment in GetFaster startup

    GetFaster: investment metrics

    • Total funding: €1.5 млн
    • Last round valuation: €15 млн
    • Last round date: декабрь 2020
    • Lead investors: Startup Lab, AltaiR Capital
    • Company stage: Seed

    Market perspectives

    According to McKinsey research, in 2020 online sales of grocery products in Europe grew on average by 55%, in Germany — by 39.9%. At the same time, the German grocery retail market showed an increase of 12.3%. The popularity of online sales in many ways stimulated by a lockdown, but McKinsey analysts predict that buying food on the Internet will be in demand after the pandemic. There is significant room for growth: by the end of 2020, the share of online sales in grocery retail in Europe accounted for only 5.3%, in Germany — 2.5%.

    Moreover, Germany is considered the biggest retail market for consumer goods in Europe. 

    Competitive analysis

    GetFaster’s closest competitors have a different geographic focus. Gorillas operate in German cities with a population of 500.000+(16 million in total), Flink is focused on cities with a population of 300.000+ (26 million), while GetFaster is focused on cities with a population of 25.000+ (36 million).

    Founders and Management of GetFaster

    Anton Zakharov (CEO) is an entrepreneur with experience in e-commerce who built and sold a leading Russian startup in the field of online outsourcing for grocery retailers.

    Dmitry Bergelson (CBDO), former CBDO at X5 Retail Group / Pyaterochka, founder of the INNORETAIL.VC retail technology venture studio and Holmes & Moriarty consulting company.

    Risks

    • Competition with other delivery startups and large retail chains. However, dark stores and proper segmentation should allow GetFaster to win a significant market share.
    • The company has initial confirmation of demand, however, is at a very early stage of development. Further scaling may slow down growth.

    Deal exit

    Option №1 — a merger by:

    • A traditional German or international discounter (Aldo, Lidl, Edeka-Netto) — the most likely option
    • An international e-commerce player with a strategic interest in food markets (Amazon, Ali Express, etc.),
    • Restaurant delivery company (Uber Eats, Deliveroo, etc.)

    Option №2 — exit the deal on the secondary market 

    The company is expected to have a $150 million valuation in case of maintaining the current growth pace.

    How to buy GetFaster shares?

    To buy GetFaster shares, please, contact our managers.