Quiqup, a UK-based on-demand logistics service provider backed by food delivery startup Delivery Hero and consumer goods distributor Transmed, is raising £10m ($12.9m) in funding, according to The National.
The round is being led by venture capital firm Jobi Capital and includes Cedar Mundi Ventures, a joint venture between VC fund Mundi Ventures and financial and investment services firm International Financial Advisors.
Founded in 2014, Quiqup operates a mobile app that enables individuals and businesses to book and manage the collection and delivery of goods. It uses a network of more than 3,000 self-employed drivers and facilitates same day, on-demand and scheduled deliveries as well as recurring orders.
Quiqup opened its first international location in the United Arab Emirates in 2017 and plans to use the funding to launch a regional hub in Beirut, Lebanon, and to expand to two other cities in the Gulf region.
The company raised $6.3m from undisclosed investors in December 2018, according to the Telegraph, funding likely to form part of the latest round. Jobi Capital has already led Quipup’s $25.6m series B round, which featured Transmed and unnamed existing investors, in May 2017.
The series B round came after an undisclosed amount of series A funding from Delivery Hero and Global Founders Capital in 2015.