LITTA SECURES £2M SERIES A LED BY THE PROVEN VCTS TO TACKLE UK’S £1BN WASTE PROBLEM
26 Aug 2021
London, 26 August 2021: The ProVen VCTs have led a £2m investment into LITTA, a rapidly growing online platform for rubbish removals and waste collection.
LITTA was founded in London in 2017 by Aaron Georgiou, later being joined by Alexie Crassas, and Chris Yiannopoulos. LITTA provides a digital, cost-effective, on-demand platform for ethical bulky waste removal. LITTA’s online platform places jobs with approved suppliers and provides a speedy, seamless, and transparent user experience in an industry that has lacked digital solutions.
The process for disposing of cumbersome rubbish and waste has traditionally been painstaking, with few digital options and a lack of information on sustainability and environmental impact. Spotting the challenges facing consumers, businesses, and suppliers, LITTA has developed a platform that makes the process of waste disposal far easier. For customers, rubbish can be immediately removed through an affordable, sustainable service, while environmentally-conscious suppliers can easily access the substantial demand for waste removal from consumers and businesses.
LITTA tackles the substantial and growing problem of fly-tipping in the UK. At a time when the country has committed to ambitious sustainability and net zero targets, there are more than 1m incidents of fly-tipping annually in the UK and waste crime cost the taxpayer more than £1bn in 2020. In contrast, 96 per cent of items cleared through LITTA are diverted from landfill.
LITTA will be using the investment to expand its footprint throughout the UK, building upon the recent launch of its presence in Birmingham, Manchester, and Glasgow. The funding will also be used to continue to develop the technology behind the LITTA platform, expand its services for commercial waste disposal, and prepare the business for international growth.
The ProVen VCTs have backed several businesses driving environmental impact and sustainability including Luxury Promise, a resale platform for luxury goods enabling the rise of the circular economy, and Social Value Portal, a platform for monitoring and improving social value and ESG. Beringea, the investment manager of the ProVen VCTs, has also spearheaded the launch of ESG_VC, an initiative by the venture capital industry to provide entrepreneurs with the tools to improve ESG performance.
Aaron Georgiou, CEO and Co-Founder of LITTA, commented: “LITTA has digitised a notoriously archaic, poorly serviced market. By leveraging our technology platform, which is underpinned by AI, we are able to leverage capacity in the market to fulfil customer bookings, aggregating a highly fragmented market. Our technology allows us to work with trusted suppliers to service customers professionally and efficiently, introducing the on-demand service that millennials expect today.
“Our rapid growth is testament to the hard work of the LITTA team and our service partners, landing us the number one spot on Trustpilot across all our categories. We are excited to have partnered with the ProVen VCTs, and we believe their experience in scaling high growth businesses will drive our ambition to become the go-to platform for bulky waste collection in the UK and internationally.”
Luke Edis, Investment Manager at Beringea, the investment manager of the ProVen VCTs, commented: “The LITTA team have built a much-needed solution to the clunky, outdated and painful process of rubbish removal. The ProVen VCTs’ investment is testament to the urgent need to provide consumers and businesses with a digital platform for waste collection, the demand amongst suppliers for an online channel for reaching customers, and the exceptional traction that LITTA has shown as a result.”