We are delighted to have provided The Eats Group, a tech-enabled Food Delivery Aggregator, with a significant growth capital facility in a deal advised by Pierce Business Advisory.
Eats began trading in 2017 when founders Sam Cunningham and Scott Beckman launched their food ordering platform in their hometown of Barrow in Furness. The business specialises in the provision of a food delivery network for local takeaways and restaurants, disrupting a market traditionally dominated by multinational players such as Just Eat, Uber Eats and Deliveroo.
In the last few years, the business has expanded rapidly under a geographically based franchise model, with 96 active franchises partnering over 7,700 food establishments across the UK with an impressive subscriber network of more than 580k.
The funding will supercharge growth for the business, enabling a faster rollout of the regional franchise model and additional improvements to the platform. Franchisees will also benefit from further support to establish their business, tools to aid marketing, customer support and invoicing and payment processing.
The transaction was advised by Pierce Business Advisory, legal support provided by Debbie king at Farleys. BHP corporate finance conducted financial due diligence.
We believe that local takeaways deserve tech partners that don’t charge excessive fees and provide proper technical support. This funding will enable us to continue develop our proposition, better serving our franchisees and the local food businesses. Thank you to Ben and Kevin for backing our ambition.
Sam Cunningham/Scott Beckman, Co-Founder and CEO
Ben Kimball, Director Business Development, ThinCats: “We recognise the real growth potential within The Eats Group. Sam and Scott have built an exceptional business, and we look forward to working closely with them and their team over the coming years to deliver their vision for the future."
Kevin Steven: Corporate Finance Director, Pierce CF: “Sam and Scott have developed a first rate business that realises the importance of local relationships to underpin any technology platform. The Group has strong geographical and service offering ambitions and the future appears very exciting for them."
