UAE & UK Delivery Startup Quiqup Raises $1.4 Million
Serving the the UAE and the UK, the startup is garnering attention for its all-inclusive coverage of delivery, logsitics and e-commerce.
Quiqup, a tech startup that specialises in T&L, q-commerce and delivery, has announced that it has raised $1.4M in its latest funding round, led by the Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative launched by the UAE's Ministry of Finance to support innovation.
Founded in 2017 by Tim Linssen, Danny Hawkins, Federico Ferraro, Bassel El Koussa and Rami Idriss as a UAE/UK-based company, the startup uses a decentralised, AI-powered last-mile logistics infrastructure to offer retailers and restaurants on-demand and same-day delivery services. During the pandemic, Quiqup experienced incredible growth, particularly in UAE - so much so, that global consultancy firm, Bain & Company, has predicted that it will triple in size over the next three years.
“We managed to quickly expand by diversifying our portfolio to include new sectors such as pharmaceutical clients and also add more grocery businesses,” co-founder and CEO, Bassel El Koussa, reflected on a peculiar period. “These positive developments opened up a whole new universe of clients, which encouraged us to raise further investment. Inspired by our success and the projected long-term trends of the space, we are now gearing up for a new phase of expansion to champion on-demand and same-day urban delivery across the GCC region.”