UK-based on-demand logistics service provider Quiqup closed a £20m ($25.6m) series B round on Wednesday featuring consumer goods distributor Transmed.
Venture capital firm Jobi Capital led the round, which included undisclosed existing Quiqup investors. Food delivery platform Delivery Hero and VC fund Global Founders Capital had provided an undisclosed amount of series A funding for the company in 2015.
Founded in 2014, Quiqup is a mobile technology-based provider of local courier services, offering collection and delivery of goods both for brick-and-mortar retailers and private individuals.
The funding will be used to improve the company’s algorithmic capabilities, strengthen operations through better routing and dispatching, and expand its offering in order to reach more retailers.
Quiqup currently operates solely in London but plans to launch in other major UK cities later this year, with global expansion also on the horizon.