The funding will help the company form a strategic partnership with supermarket chain REWE. Here are the top-line bullets you need to know.
Flink, an on-demand online grocery delivery company, has raised $240M in a Series A that drew participation from Prosus, Bond, and Mubadala Capital.
HOW’S THE COMPANY PERFORMING?
- Germany-based Flink is a grocery delivery platform that delivers locally sourced consumer items such as groceries, fresh fruits, and vegetables at supermarket prices directly to customers.
- The company operates in 24 cities across Germany, France, and the Netherlands. It offers 2,400 items and reportedly caters to over 3M customers daily through more than 50 self-operated local hubs.
- The startup has already attracted 3 investments since its launch in December 2020.
Source: Flink
WHY DOES THE MARKET MATTER?
- The online grocery delivery services market is expected to grow at a CAGR of 29% and reach a value of $631.84B by 2024, according to Industry Research.
- Consumers have turned to delivery services in droves amid pandemic-induced lockdowns and indoor dining restrictions. In response, the $186B food and beverages delivery industry has expanded to meet customers’ evolving needs and interests. This includes doubling down on sustainability.
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