Snappy Group has secured a new seven-figure funding facility with Virgin Money’s Venture Debt team to support growth across its quick commerce and marketplace platforms in the UK.

Best known for its quick commerce marketplace, Snappy Shopper, the group has evolved into a broader retail technology platform, providing marketplace, Order Aggregation, white-label and retail media solutions to retailers across the UK.

The backing from Virgin Money follows a period of momentum for the Dundee-founded company, with transaction volumes across the Snappy platform hitting record levels and annualised grocery GMV now exceeding £150m.

Recent partnership announcements with Morrisons, Co-op and SPAR highlights the growing demand. These retailers have selected Snappy as their preferred partner to expand their rapid grocery delivery offerings.

The Snappy Shopper offering has also grown onto Jersey for the first time this year, as it partners with Alliance Retail for an Iceland Foods offering.

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Barry McGonagle, chief financial officer at Snappy Group, said: “We are delighted to secure this facility with Virgin Money at such an important moment for Snappy.

“Demand for our products and services is growing rapidly, transaction volumes across the platform are at record levels, and the market opportunity in front of us is significant.

“This facility adds further firepower alongside previous equity investments and gives us the capital and flexibility to accelerate into that opportunity with confidence.

“We have known the team at Virgin Money for several years and are pleased to be partnering with them as we enter this next phase of growth.”

In a recent exclusive interview, Snappy Shopper’s VP Greg Deacon discusses consumers’ digital expectations; building trust in Q-commerce; and technology as a leveller.