Jinn operates a 24/7 same-hour “shop on your behalf” delivery service that lets users request items from any local store via a location-based app. The company runs in the U.K. and Spain and has turned every local shop into a loosely connected warehouse powered by its courier network. Jinn says groceries now account for 15% of orders (up from 5% a year ago) and it is pushing into non-food categories like beauty and health. The startup reports positive contribution margins in all markets, has surpassed 1 million completed deliveries since launching in late 2014, and expects to be profitable next year. Its merchant strategy includes around 1,000 official partners (partners pay ~25% commission), while non-partner purchases incur a distance-based delivery fee plus 10% of the basket. About 5,000 couriers are registered with the app and roughly 1,000 are active monthly; a change from hourly pay to per-drop pay prompted strikes and some departures. Jinn operates a same-hour "shop on your behalf" delivery app that lets customers order anything locally through a free-form request or browsing; couriers purchase and deliver items 24/7. The service is live in central London and Manchester and Jinn plans to expand to more UK cities and to Southern Europe using the new funding. The company reports 50,000 monthly orders in central London, an annual run rate of $25 million in sales passed through the app, and 30% month-on-month growth with customers ordering on average once a week. Average delivery time has improved to 32 minutes (down from 45 minutes six months earlier), and Jinn claims about 500 merchant partnerships. Its unit economics break even at just over one delivery per hour and the company says it delivers closer to two per hour at full capacity. For non-partner purchases Jinn charges a delivery fee based on distance plus 10% of the basket; for partner purchases customers pay a lower delivery fee (~£2.50) while partners pay around 25% commission and receive a tablet to integrate with Jinn's ordering system. Jinn operates a mobile-first on-demand delivery app that allows users to type any item and have it bought and delivered in under an hour using a network of professional couriers. The service targets affluent London postcodes and has grown virally among young professionals and students. It charges a £5.95 delivery fee plus 10% of the purchase. The company reports roughly 1,000 orders per month, an average user ordering every 10 days, and an average user spend of £150. Founders initially delivered orders themselves while bootstrapping the London launch. The seed funding will be used primarily for customer acquisition to accelerate that growth.

Total raised

$18M

Funding rounds

3

Latest round

Equity

Latest activity

May 2017