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Enterprise

海角视频TV-backed grocery delivery firm Beelivery acquires counterpart Pinga

Beelivery is currently seeking to raise an additional £25m

One of the Beelivery vehicles

On-demand grocery delivery firm Beelivery has acquired counterpart Pinga for an undisclosed sum.

The Congleton-based company has snapped up the London business which has 600 drivers and riders.

The move comes after Beelivery received more than £1m from GreenBank Capital in June 2021.

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The business was also backed with a £2m investment from the venture capital arm of 海角视频TV, whose channels include Dave, Gold and Yesterday, in April last year.

Beelivery said it is now set to acquire over 5,000 customers as a result of the deal.

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Beelivery’s joint CEO and co-founder Yazan Bin Mohamed said: "This acquisition enables Beelivery to leverage the driver capacity and loyal customers of Pinga in Central London and extend our lead in this competitive market.

"The company is now exploring further M&A deals, and in particular we are now open towards further strategic alignment with our closest competitors.

"We are open towards mergers or strategic acquisition in the 海角视频 or worldwide while we are raising our £25m round."