Prosus, the internet group formed by media and e-commerce conglomerate Naspers, co-led a $240m series A round for Germany-based grocery delivery service Flink today, Reuters reported.
The round was co-led with venture capital firm Bond and Abu Dhabi state-owned investment vehicle Mubadala Capital. A source told TechCrunch it valued the startup below $1bn.
Flink runs an online service where users can order a range of groceries for rapid delivery, operating out of a network of some 50 urban darkstores where goods can be stored for maximum convenience. It announced the round alongside a strategic partnership with supermarket chain Rewe.
The company was founded in late 2020 and raised $12.2m from Cherry Ventures and Northzone in a pre-seed round in January this year. They returned two months later for a $52m round led by Target Global that included venture debt provider TriplePoint Capital.
Oliver Merkel, co-founder and chief executive of Flink, said in a statement cited by TechCrunch: “We are on a mission to give people back some of their valuable time during their hectic days and impress them with our service every time they order.
“We want to establish Flink as the top destination for their day-to-day goods at great prices and with instant delivery by our amazing riders. The order growth we have seen over the past weeks has been explosive and we attribute that to the excellent service we are providing to our consumers.”
