Grocery delivery start-up Flink has raised $750m in an additional funding round, it said on Friday, giving the German company the funds to further expand and cash in on the home food delivery boom.
Flink is one of several food delivery start-ups, including Gorillas, Getir, and Weezy, that have grown rapidly during the COVID-19 pandemic by delivering groceries within minutes of an order being placed via smartphone app.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Its Series B funding round was led by U.S. tech firm Doordash in September, and also included investors such as Mubadala Capital, part of Abu Dhabi’s sovereign wealth fund.
The money would be used to expand its operations. The privately-held company currenctly has more than 140 delivery hubs in over 60 cities, reaching up to 10 million customers, with Germany and the Netherlands its largest markets.
“We are just getting started as we receive daily questions from people who ask, when they can reach our services,” said founder Oliver Merkel.
Source: Reuters
Can’t stop reading? Read more
Private equity firms pause early recruiting after JPMorgan crackdown
Private equity firms pause early recruiting after JPMorgan crackdown Major US buyout firms,...
Octopus Energy plans £10bn demerger of Kraken to unlock global growth
Octopus Energy plans £10bn demerger of Kraken to unlock global growth Octopus Energy Group is...
Blackstone eyes $35bn bid for SFR as European telecom M&A heats up
Blackstone eyes $35bn bid for SFR as European telecom M&A heats up Blackstone is reportedly...