HelloFresh raise $84.7 million at a $2.9 billion valuation, becoming Europe's 4th most valuable company

You wait ages for one and then two come along at once....no not buses, unicorns! Literally hours after BlaBlaCar became Europe's latest unicorn, now HelloFresh has joined the club too

Literally hours after BlaBlaCar's monster $200 million round propelled them to being Europe's fifth most valuable company with a $1.6 billion valuation, they've immediately been knocked down the pecking order by another Rocket Internet backed company.

Led by Baillie Gifford, the Scottish investment bank, HelloFresh, the Berlin-based company that delivers meal kits to subscribers for them to make their own meals has raised a further $84.7 million which now gives them a valuation of $2.9 billion.

This places them behind two other Rocket Internet backed companies, Global Fashion Group ($3.4 billion), Delivery Hero ($3.1 billion) and of course Spotify ($8.53 billion) when it comes to who are Europe's most valuable private venture backed companies.

They had previously raised a total of $193.5 million, with their last post-money valuation given as $705 million, a multiple of approximately x3.4 of total funding raised. Despite only raising a further $84.7 million, their post-money valuation has now jumped to a multiple of approximately x11 of total money raised, indicating that Baillie Gifford paid a premium. This is supported by Venture Beat reporting that despite the size of the investment Rocket Internet will only see its share of the company drop from 58.9 to 57.2%.

In any case, Europe has given birth to two unicorns in a matter of hours, and with three new funds announced in one morning yesterday (KLM, Nauta Capital, b-to-v) it's certainly been an eventful week for the European tech scene.

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