Alumnus creates app that connects customers and retailers for one hour delivery

An Imperial alumnus has created an online delivery service that allows people in London to buy and receive goods in their local area within the hour.

Quiqup, founded by MSc Finance alumnus Bassel El Koussa and four other co-founders is a mobile app that allows customers to order anything on-demand for delivery to their home or business. When a customer places an order, couriers known as Quiquees visit the chosen store or restaurant and purchase what the consumer has ordered with a promise to deliver the goods within one hour.

The business aims to create a better connection between consumers and retailers by making people aware of the services available in their local area including food, groceries, fashion and electronics.

Laura Singleton spoke to Bassel about his career path from studying an MSc in Finance at Imperial College Business School to becoming CEO of Quiqup.

Bassel El Koussa, CEO of Quiqup

How did Quiqup come about?

After graduating from Imperial, I was working for a venture capital and private equity firm. The company aimed to help entrepreneurs build and grow businesses specialising in digital media, technology and entertainment. I met a group of like-minded colleagues who shared my passion for digital media and startups and we would often socialise together after work and discuss our dream business ideas. It was during these gatherings that the idea for Quiqup developed. The business idea made sense as it clearly met a gap in the market. The idea was met with great enthusiasm and after six months I was able to resign from my position to set up the business, alongside several of my former colleagues. 

Technology and logistics are rapidly growing industries, and I was fascinated by how we can make a difference to people’s lives and encourage businesses to operate in a smarter way. 

Describe the services that Quiqup offers

Quiqup enables people in London to receive their deliveries much more quickly, getting around the inconvenience of lengthy delivery delays and the travel and time needed for people to go shopping. The business also allows customers to tap into the wealth of services available in their local area, for example restaurants that offer take-away services through Quiqup. The service also enables retailers to strengthen and expand their customer base from within their postcode. Unsurprisingly, our largest demand is for food take-aways, but we also get a large number of orders for grocery and pharmaceutical products. 

How did the MSc in Finance at Imperial help you start your own business?

Studying at Imperial was an incredible experience.  My studies really helped me understand the basics of business, particularly fundraising and the financial decisions involved in running a small business.  Some of the most useful courses were venture capital and entrepreneurial finance, which helped me in structuring my funding rounds.  

My life-long dream was always to start my own business rather than venturing into the world of big corporate finance. Ultimately, my experience at Imperial gave me the drive and confidence to turn my dreams into reality, so I was ready as soon as the opportunity was presented to me. 

I was attracted to studying at Imperial because of its reputation in science, innovation and business as well as its links to industry in London, which was a big factor, as I had moved to London from Lebanon to kick-start my career in the UK.