Amsterdam’s Crisp Raises A €30M Series B Round

Amsterdam-based online supermarket Crisp has raised a round of €30 million in Series B finance.

The financing round was led by leading Target Global and joined by Keen Venture Partners and the co-founders of Adyen and Takeaway.com.

Focused on fresh produce, Crisp sources its products directly from 600 plus small and high-quality producers at an affordable price in the Netherlands.

Customers order through a smartphone app and it is delivered the next day within an hour. It also uses a 100% electric fleet serving big cities and suburbs, and its model is to have zero food waste.

Tom Peeters, CEO, and co-founder of Crisp stated in an interview that “the differentiation on our model is that we offer quality and convenience. So, fish is super fresh, fruits, and produce is super fresh, etc. We basically stay away from the standard supermarket proposition that everything is always there, and you manage long shelf life. We’d rather build a very short chain sourcing directly at the source and bringing it in a very convenient way to you.”

He said that delivery is done the next day in order to ensure freshness. “The typical customer is a young family. An average order is 45 products and rather than offering all the brands, we on-boarded the long-tail of food producers in our digital marketplace, so we sourced from over 600 sources of food.”

He said: “Food in Holland is 40 billion euros, in Germany, it is 200 billion. I think Europe combined it’s over two or 3 trillion. So that means basically we don’t need to spread thin over many countries in order to build a healthy business, not just healthy products, so we make money on every customer order.”

Founded in 2018, by serial entrepreneurs Tom Peeters, Michiel Roodenburg and Eric Klaassen Crisp claim to be now one of the fastest-growing supermarkets in the Netherlands, with a seven-fold in sales in 2020 and more than 85% of sales coming from repeat customers, it says.

Crisp plans to use the money to expand in the Netherlands, and eventually across Europe.