GetFaster is a young German online retailer that specializes in express delivery of food and household goods. The service began its operations in January this year and is growing dramatically: in early September it was launched in the 24th city in Germany — Wuppertal. Other cities where the company operates include Berlin, Dusseldorf and Essen.
GetFaster is not just a delivery service, but a full-fledged online retailer with its own dark stores: one of them has just opened in Wuppertal. With a help of the dark store concept GetFaster is able to achieve higher margins.
The startup is constantly increasing the number of orders and sales volume: in August — by 24.7% and 22%, respectively. The number of orders per client has already exceeded 3 per month, while the cost of attracting a client, on the contrary, has decreased by a quarter.
Based on August sales, GetFaster’s projected annual revenues are € 2.5 million, and by the end of November, the company plans to quadruple this figure to € 10 million. Such operational growth would defiantly help the company to raise funds in the company Series A investment round.
GetFaster shares are available to Raison Asset Management clients.