Berlin-based Flink, an online startup that offers grocery deliveries in ten minutes, announced that it has raised $750M (approx €664M) in Series B round of funding at a valuation of $2.85B (approx €2.52B).
The round was led by DoorDash with participation from Mubadala Capital. So far, Flinkhas raised $1.1B in funding.
The latest announcement comes six months after raising $240M (approx €212M) in a Series A round from Prosus, BOND, and Mubadala Capital.
The company will use the funds to expand its operations and accelerate its growth capitalising on the online grocery boom.
“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,” says Flink co-founder Oliver Merkel.
Delivery under 10 minutes
Founded by Oliver Merkel, Julian Dames and Christoph Cordes in 2020, the platform offers around 2400 items like fresh herbs, fruits, bread, essentials, and home supplies to customers through Flink riders in under 10 minutes.
The Berlin-based company supports local products, uses sustainable packaging, and delivers on e-bikes. Right now, the company has more than 140 hubs in 60 cities across four countries, covering up to 10M customers.Germany and the Netherlands are its largest markets.
DoorDash provides restaurant food delivery services connecting customers with local businesses. Headquartered in San Francisco, the company has its operations in Canada, Australia, and Japan.
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi. Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco, and Beijing.