FastAF
Curated quick commerce for premium brand delivery.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor investor | €0.0 | round |
* | N/A Valuation: $200m | Series A | |
| Total Funding | 000k | ||
FastAF Technologies, Inc. was a quick commerce retailer that specialized in delivering a curated selection of products from premium and high-end brands within minutes. Founded in 2020 by Lee Hnetinka and headquartered in San Francisco, the company aimed to provide a superior alternative to conventional convenience stores and other rapid delivery services by focusing on higher quality, healthier, and trend-focused items.
The company launched as a spin-off from Darkstore, a logistics and micro-fulfillment technology provider also founded by Hnetinka. This relationship provided FastAF with the core technology for its micro-fulfillment centers, enabling it to manage its own inventory and control the entire delivery experience. The business model was based on purchasing products wholesale or on consignment from brand partners and then reselling them through its app, which was initially available for iOS users. FastAF differentiated itself by partnering with over 600 national and local retailers to offer a unique product assortment across categories like personal care, pantry, fitness, electronics, snacks, and pets, many of which were exclusive to its platform.
FastAF operated in major U.S. markets including New York, Los Angeles, and the San Francisco Bay Area. In December 2021, the company announced a Series A funding round that valued it at $200 million, with investors such as Luxor Capital, EQT Ventures, and PivotNorth Capital. This capital was intended to fuel expansion into new markets, grow its customer base, and broaden its product selection. The company achieved a high average order value of $142, which it attributed to its curated, premium offerings. In early 2022, FastAF partnered with Uber Eats to offer 25-minute delivery to a wider audience. However, despite its initial growth and funding, information from PrivCo indicates the company has since been dissolved.
Keywords: quick commerce, premium product delivery, curated retail, on-demand delivery, e-commerce, urban delivery, last-mile delivery, micro-fulfillment, app-based retail, consumer goods, high-end brands, direct-to-consumer, rapid delivery, convenience retail, lifestyle products, online marketplace, grocery delivery, Lee Hnetinka, Darkstore, express delivery