Snap It secures £2.1 million in seed funding
Posted: Tuesday, October 11th, 2022
Snap It, the on-demand supplies delivery platform for tradespeople, has raised £2.1 million in seed funding to broaden the range of materials its customers can access and to expand outside Greater London, HPM has reported. ActivumSG Ventures led the funding round with Force Over Mass Capital (FOM Capital) and LiFE Ventures the other institutional investors. Snap It also attracted the financial backing of angel investors, including former world boxing champion David Haye, Onefinestay founder Greg Marsh and Oliver Stork, a private equity professional, it said. Snap It will use the proceeds to expand beyond plumbing supplies, initially by offering an electrical product range. The company delivers within the M25 area and also plans to launch later in Birmingham as part of a broader UK expansion strategy, a company statement said. Viktor Muhhin, founder and CEO of Snap It, said: “This funding will take our platform to the next level as we expand outside London and offer electricians the same service currently enjoyed by our plumber customers. Our platform will continue to grow, supporting large merchants on their daily operations and digitising independent family-run merchants so they remain competitive in today’s fast-paced market.” Founded in 2019 to address the pain points Viktor Muhhin faced as a self-employed plumber, Snap It’s mobile application simplifies how tradespeople source materials, spare parts and fittings.
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