German online grocer Flink has raised $750 million in a Series B funding round, now giving the company a pre-money valuation of $2.1 billion. All of this within seven months of operation. Flink is a player in the get-it-to-my-door-faster-than-I-can-blink game, with grocery delivery times in 10 minutes or less. Since the beginning of this year, the company has raised … wait for it … $1.1 billion.
Just in case this is your first time visiting a European tech news publication, the online grocer sector is hotter than two ants sitting under a magnifying glass on a cloudless day. Getir, Gorillas, Flink, Glovo, you name it, they’ll get it to you. Sometimes, even at the expense of your deliverer's health. But that’s another story for another day.
Just to demonstrate the blistering pace of the sector, Flink was founded just one year ago and opened its first hub in February following a seed round of €10 provided by Cherry Ventures and Northzone. Since this time the company has exploded, now servicing 10 million customers in over 60 cities, and is the market leader both by cumulative app downloads and active users in its most mature markets, Germany and the Netherlands.
“Since day one, we build our services around our customers and our employees. We are on a mission to give back time to our customers and in return they shift more and more of their weekly spend on groceries to our services,” commented Flink co-founder Oliver Merkel. “At the same time, every day, thousands of Flinkers make sure that we deliver more WOW moments for our customers. Today demonstrates that we are just getting started as we receive daily questions from people who ask, when they can reach our services.”
The whopping $750 million funding round was led by US-based Doordash and existing investor Mubadala Capital, with, “new and existing investors participating”.
"We’ve been impressed by Flink's growth and customer retention. Oliver, Julian, Christoph, and their team share our operator mindset and bring a wealth of industry experience. It's not surprising that in less than a year of operating they have established themselves as the leader in key European markets," commented DoorDash’s CFO Prabir Adarkar.
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