Proximize Limited

Proximize Limited operates a local grocery delivery service under the Pinga brand, providing rapid access to groceries and everyday essentials through a user-friendly app and vetted local couriers. Founded in 2016 and headquartered in London, UK, Proximize Limited specializes in local grocery delivery. The company has participated in four deals, with the most recent deal occurring on January 27, 2022. Proximize Limited was acquired by Beelivery, with the financial terms undisclosed.

The current company valuation stands at GBP 3. 105 mn. Pinga’s core offerings revolved around a local grocery delivery service aimed at providing customers with rapid access to a wide range of products, including groceries, alcohol, and other everyday essentials. The Pinga app facilitated the user experience by allowing customers to select up to 20 items from local shops, which were then sourced and delivered by vetted local couriers.

This service caters primarily to urban consumers who value convenience and sustainability, as it focuses on sourcing products from within a 2km radius to minimize delivery emissions and packaging waste. The company initially launched in various locations across London, such as Hackney and Islington, with plans to further expand into other urban markets, enhancing its customer base among individuals seeking fast and eco-friendly delivery solutions. Pinga operated on a transactional revenue model characterized by a straightforward delivery fee structure. Customers would place orders through the app, paying a standard delivery fee starting at GBP 2.

95 for their selected items. The company established partnerships with local retailers and independent merchants, facilitating a B2B relationship where these retailers supplied products directly to the customers via the Pinga platform. This model allowed Pinga to maintain fair pricing while supporting local businesses. The absence of subscription plans indicated a focus on individual transactions, allowing customers to pay per order without ongoing commitments, thereby simplifying the purchasing process and providing a flexible solution for varied consumer needs.

Proximize Limited is positioned for future growth following its acquisition by Beelivery in January 2022. The company aims to enhance its product offerings and expand into new markets. Specific details regarding new products or geographic regions targeted for expansion have not been disclosed. The resources from the recent acquisition are expected to support these initiatives, although further elaboration on the utilization of funds has not been provided.