German delivery unicorn Flink raises €100M

German delivery unicorn Flink raises €100M

Berlin-based grocery delivery unicorn blink It has raised €100 million in funding to expand its runway and overtake its rivals in the on-demand grocery delivery sector. Flink offers food and supplies at supermarket prices with a delivery promise of less than 10 minutes.

Founded in 2020 by Oliver Merkel, Julian Dames, and Christoph Cordes, Flink focuses on instant delivery, partnering with major merchants to deliver fresh goods to customers' doorsteps within minutes. The company aims to make instant food delivery accessible to a wide range of people, not just young citizens with disposable income.

The funding round comes at a time when the grocery delivery sector is facing challenges such as high costs and low demand. While the sector experienced growth during the pandemic, many startups struggled with low margins, high acquisition costs and competition.

Earlier, Flink raised $750 million in a Series B round led by DoorDash, valuing the company at $2.1 billion. In 2022, it acquired rival Cajoo, gaining access to French grocery chain Carrefour and expanding its presence in France.

The battle for dominance of online food and grocery delivery in Europe has intensified, especially in Germany. In 2022, rival delivery company Getter was in talks to acquire Flunk but later bought German firm Gorilla for $1.2 billion. Gettier's goal was to dominate the fast grocery delivery sector and expanded its operations to several countries, including the United States.

About the Author

Leave a Reply