Netherlands-based online grocer Picnic has raised €100m ($108m) in a round led by NPM Capital, the private equity arm of trading group SHV Holdings, Silicon Canals reported yesterday.
The round also featured private equity firm De Hoge Dennen, Hoyberg, which acts as the investment office of the Hoyer family, and Finci.
Launched in September 2015 after a stealth period of roughly three years, Picnic sells groceries online, sources them from predominantly local retailers and delivers them to customers at set times using electric vehicles. Each customer can track the progress of their delivery online.
Picnic is currently active in the Dutch cities of Utrecht, Amersfoort and Almere but plans to imminently launch in Delft, Leidschendam, Voorburg, Nootdorp, Ede and Veenendaal as part of a rapid growth strategy that will involve building out some 70 local hubs as it expands across the Netherlands.
The company is considering international expansion in future but has no plans for the moment. It has not revealed details of its earlier funding.
– Photo courtesy of Picnic