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Snap It announces £2.1m Seed round

Paul Kvadsheim
Oct. 17, 2022, 3:24 p.m.

LiFE Ventures are pleased to announce the closing of Snap It’s £2.1m Seed round which was led by ActivumSG.

 

LiFE Ventures is delighted to be investing alongside our wider investor network and Force Over Mass (FOM Capital) as the institutional parties involved. Prominent angels that joined the round include former world boxing champion David Haye, Onefinestay founder Greg Marsh and Oliver Stork, a private equity professional with significant board-level experience at large international building merchants.

 

Snap It simplifies how tradespeople source materials, spare parts and fittings thereby ensuring tradespeople have the key items needed for a job by delivering orders in as little as 30 minutes or by advance delivery. Ultimately, this enables tradespeople to operate more efficiently, improves customer satisfaction and frees them up to win more business. The round comes as Snap It continues its expansion into new verticals and locations.

 

Viktor Muhin, Snap It CEO and founder commented, “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.”

 

Natalie Somekh, Partner at Activum SG stated “Viktor and the Snap It team are using their deep industry knowledge to modernise and streamline the fragmented building trades supply chain so that everyone wins – tradespeople, merchants, homeowners, tenants and property managers. We can see the tremendous growth opportunities that Snap It’s platform unlocks and are happy to support the team in growing it.”

 

Josh Drukarz, Managing Partner at LiFE Ventures, “LiFE Ventures are delighted to be supporting Viktor and the Snap It team as he seeks to digitise the supply chain logistics space starting in trade. There is a strong feeling that Viktor has the knowledge and industry experience to help Snap It become a domestic champion.”