Berlin-based Grocery delivery startup, Flink has raised $750 million in a Series B round of funding led by a strategic backer, DoorDash, giving the German company the funds to further expand.
Flink is one of several food delivery startups, including Gorillas, Getir and Weezy, that have grown rapidly during the COVID-19 pandemic by delivering groceries within minutes of an order being placed using a smartphone app.
The Series B funding round was led by US tech company Doordash in September and included investors such as Mubadala Capital, Abu Dhabi’s sovereign wealth fund. Other investors in the round include German supermarket giant REWE, Prosus, Bond, Target Global, Northzone, Cherry Ventures and TriplePoint Capital.
Commenting on the funding round, Mr. Amer Alaily of Mubadala said, “This funding round is a watershed moment for Flink as it continues on its hyper-growth trajectory. We are excited to watch them disrupt the instant grocery delivery space amidst an enormous market opportunity in Germany, France, the Netherlands and beyond.”
“Flink is on a dynamic growth track, which REWE Group is supporting with its long-term commitment. This also includes the operational cooperation between Flink and Rewe in the area of purchasing, which continues to develop very positively,” said Mr. Lionel Souque, CEO of REWE Group, in a statement on the relationship.
As per Flink’s statement, the money will be used to expand its operations. The privately-held company currently has more than 140 delivery centers in more than 60 cities, reaching up to 10 million customers, with Germany and the Netherlands its largest markets.
Thank you very much for choosing GCC Business News to be an important part of your professional life. You will receive a confirmation e-mail. Please check SPAM or UPDATES folder
