8 years ago

Jinn Secures $10 Million to Expand On-Demand Delivery Service

  • Jinn, an on-demand delivery startup based in London, has secured $10 million in funding

  • The round was led by family investment office STE Capital, with participation from Samaipata Ventures and other previous investors

  • Jinn plans to use the new capital to expand its presence in existing markets, which includes the UK and Spain

  • Jinn offers same-hour delivery of anything locally, including food, groceries, beauty and health products, and more

  • The company has partnerships with around 1,000 merchants, allowing it to offer lower delivery fees and higher margins to customers

  • Jinn competes with companies like Amazon's Prime Now and Fresh, but it aims to differentiate itself by leveraging its courier network to turn every local store into a loosely connected warehouse

  • The company is also pushing into categories beyond takeout food, such as groceries, which now account for 15% of orders

  • Jinn expects to be profitable next year, having surpassed 1 million completed deliveries since its launch in 2014

      • ProblemTechnology

      "Ordering anything you need locally is slow and inconvenient, especially for busy people who don't have time to wait in line. Many delivery services only focus on specific categories like food, limiting options."

      Solution

      "Jinn is a 24/7 on-demand delivery service that lets you order anything from any local store, including food, groceries, beauty products, and more. You can browse the app, search for specific items, or even write a free-form text request. Jinn's couriers will purchase and deliver your items within the same hour, making life easier and saving time for busy customers."

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