German delivery service Flink collects $750 …

German delivery service Flink collects $750 … post thumbnail image

The startup will be worth $2.85 billion after the close of the deal.

Express grocery delivery service Flink has raised $750 million in Series B funding, says TechCrunch. As a result, the startup’s valuation reached $2.1 billion and will be $2.85 billion after receiving the money.

  • Food delivery service DoorDash is a major investor. This round also featured existing investor Mubadala Capital and several unnamed sponsors. The startup was previously backed by German retailers REWE, Prosus, Bond, Target Global, Northzone, Cherry Ventures and TriplePoint Capital.

  • Flink, a German grocery delivery service, launched in September 2020, and only started operations eight months ago. The startup delivers orders to residents of 60 cities in Austria, Germany, the Netherlands and France. The company’s services are used by 10 million people, TechCrunch reports.

  • It is noteworthy that during the year of its existence, the startup raised $1.1 billion (taking into account the new round).

Source: Crunchbase.

“Flink is Germany’s number one express delivery company and is ideally positioned to further expand its market leadership,” Lionel Suk, CEO of REWE Group, told the portal.

  • The startup will invest the funds raised to expand the coverage area and acquire competitors, reports the portal with a link to the company. According to TechCrunch, the round consisted mostly of capital investments, a small portion taken on credit.

  • The company DoorDash’s investment in the startup was reported by Reuters, citing sources in September. Recall that American food delivery service DoorDash became a public company in December 2020. Its capitalization stands at $57 billion.

  • Initially, DoorDash planned to invest in Gorillas, a competitor to Flink. However, the deal fell apart due to disagreements among the company’s top management.

Read also: the grocery delivery service from Sber has appeared in Belarus.

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