Venture Capital: Rapid Grocery Delivery Startup Flink Raises $750M

December 10, 2021 | News, Venture Capital
https://dailyalts.com/wp-content/uploads/2021/12/1620132052943.jpg

Founded in 2020, Flink scooped a pre-money valuation of $2.1 billion.

Flink, the grocery 10-minute delivery startup operating out of Berlin and serving 10 million customers in more than 60 cities, has closed a $750 million Series B round led by DoorDash (NYSE: DASH). The lion’s share of the funding will be used to continue the startup’s growth, with a small portion earmarked for strategic acquisitions. (TechCrunch)

Other investors participated, including existing Mubadala Capital. Flink raised $240 million in June via a Series A round within months of its founding in December 2020.

To TechCrunch, founder Oliver Merkel said Flink was able to stand out from the instant delivery crowd because of the founders’ impressive backgrounds, including Bain and Rocket Internet, and previous entrepreneurial successes.

“I think what we bring and why could we win market leadership in such a short amount of time is because we are obsessed about how we do things… and we bring some experience to the table. We made so many mistakes elsewhere, and we hope we’ve learned from those,” Merkel said.

Heavy investor interest in “q-commerce” (quick commerce)

The DoorDash investment in Flink is significant in the light of the recent investment by Delivery Hero (ETR: DHER) in Flink rival Gorillas, which too was founded in 2020 and clocked a similarly meteoric growth trajectory.

Delivery Hero took up $235 million from Gorillas’ $1 billion round in October, and is estimated to own about 8% of the startup.

“We are just getting started as we receive daily questions from people who ask, when they can reach our services,” said Flink’s Merkel to Reuters.

Related Story: Delivery Hero Takes $235M Chunk Of Gorillas’ $1B Funding Round

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/01/Bink-app-shot.png
FinTech: Lloyds To Acquire Stake In Loyalty App Bink
January 4, 2022     FinTech, News

Lloyds Banking Group (LON: LLOY), Britain’s biggest mortgage provider, will acquire a minority stake in loyalty app Bink, according to a report by Sky News for an undisclosed amount that…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-22-29-49-Screenshot-Pawson-2.png
Digital Assets: Coinbase CEO Armstrong Said To Have Splurged $133M On Home In LA
January 4, 2022     Digital Assets, News, Real Estate

An iconic property in Bel Air, Los Angeles, designed by internationally acclaimed English architect John Pawson changed hands last month for $133 million and the buyer was Coinbase (NASDAQ: COIN)…

https://dailyalts.com/wp-content/uploads/2022/01/47752022922_e4569a2f0e_c.jpg
Alternative Investments/ESG: VegTech Invest Launches Plant-Based Innovation & Climate ETF

VegTech Invest advisory has launched the VegTech Plant-based Innovation & Climate ETF (Ticker: EATV), its first financial product. The ETF offers exposure to publicly traded companies actively innovating with plants…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-18-48-26-超·世界.png
Venture Capital: Chinese AI Startup Parametrix Raises $100M, Turns Unicorn
January 4, 2022     Artificial Intelligence, News, Venture Capital

Chinese AI company Parametrix.ai has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation…