Flink, the Berlin-based instant grocery startup, is now valued at $2.85B after raising $750M in a round led by DoorDash –
Summary
Flink is already present in some 60 cities across four countries, where it covers 10 million customers; the plan will be to use the funding to continue growing that footprint, both organically and potentially by snapping up rivals (we have confirmed that most of the round is in equity, with a small portion in debt for acquisitions). In a rare interview — the company has been media-shy up to now — CEO and co-founder Oliver Merkel said he believes that part of the reason Flink has attracted attention among what is a crowded field of instant delivery startups is because of the founders’ track records. Whether Gorillas and Flink do ultimately join up, consolidation will likely come one way or the other as the many companies in instant delivery that have popped up in the last couple of years — spurred by the pandemic and changes in how people shopped and moved around — struggle to get profitable, reach positive unit economics, find new customers and raise more money. It’s not surprising that in less than a year of operating they have established themselves as the leader in key European markets.” “This funding round is a watershed moment for Flink as it continues on its hyper growth trajectory,” added Amer Alaily of Mubadala. “We are excited to watch them disrupt the instant grocery delivery space amidst an enormous market opportunity in Germany, France, the Netherlands and beyond — and we look forward to remaining a trusted partner to Oliver, Julian, Christoph and their team.”