Ireland’s Kwayga.com bags €1M to accelerate growth, revolutionise sourcing processes for supermarkets

Ireland-based Kwayga.com, a supplier sourcing engine for supermarkets, announced that it has raised €1M in a round led by the Redesdale Food and Beverage Fund.

Kwayga says the funding round will help expand its operations in the UK and Europe, and continue to provide its customers with the fastest and most efficient way to source suppliers. 

Using its innovative technology, the Cork-based supplier sourcing platform helps supermarket buyers cut their sourcing times by 40 per cent. 

In minutes, Kwayga.com can match buyers with ideal private label and trending product suppliers who meet their specific needs, a process that can usually take weeks or months. 

At the same time, the platform can expand buyers’ exposure to potential new suppliers across European markets.

More about Kwayga

Kwayga.com was founded in 2021 by Mike McGrath, who has over 15 years of experience as a consultant guiding B2B buyers in the food and drinks industry, and Martin Fitzgerald, who has sourcing expertise. The two came together to provide tools to streamline sourcing processes. 

The platform, named The Kwayga Deal Centre, aims to revolutionise the way European supermarket sourcing teams operate. Besides reducing sourcing lead times, users can get new products on shelves faster, replace existing products as needed, and implement targeted cost-saving programmes.

Kwayga’s platform already attracts the leading Irish supermarkets and several UK supermarkets as its customers. Its database now boasts over 80,000 suppliers.

Interested buyers can book a demo to get a first-hand experience of the sourcing platform. They simply have to fill out a form on Kwayga’s website.

The platform emphasises that it is not an agent or broker. It also does not charge any commissions and negotiate for buyers or represent suppliers. The platform merely verifies and matches up every buyer, supplier, and their trade requests.

“This partnership will significantly accelerate our growth across Europe as we continue to build high-value relationships with significant UK and European buyers, reducing their sourcing time and costs by rapidly connecting them with the best European suppliers,” says Mike McGrath, co-founder and CEO of Kwayga.com.

“This funding will be used to scale our team and continue to grow our product,” adds McGrath. 

Support from partners

Michael Cantwell, a partner in The Redesdale Food & Beverage Fund, also shares McGrath’s enthusiasm.

“We are excited about the expertise of the team and their exceptional technology which solves a key buyer pain point,” says Cantwell. “It will be a game changer in how suppliers are sourced in the supermarket sector.” 

The Redesdale Food & Beverage Fund is a venture capital fund backed by leading Irish and international investors, including Enterprise Ireland, Lord Abbett, Musgrave, Coca-Cola, Monaghan Mushrooms, and Tate & Lyle. The fund invests in food, beverage, and nutrition companies led by ambitious entrepreneurs.

Previously, it invested in Fiid, a plant-based food company. According to Redesdale partner John Stapleton, the investments will support the company in expanding its business into the UK market.