The funding is led by US tech firm Doordash, with participation from Mubadala Capital, part of Abu Dhabi’s sovereign wealth fund
Germany-based Flink has raised $750m funding in a Series B round of funding round that valued the instant grocery delivery start-up at $2.85bn.
Led by US tech firm Doordash, the funding round saw participation of Mubadala Capital, part of Abu Dhabi’s sovereign wealth fund and other undisclosed new and previous investors.
With the latest funding, Flink has taken its capital raise to $1.1bn.
Flink co-founder Oliver Merkel was quoted by Silicon Canals as saying: “Since day one, we build our services around our customers and our employees. We are on a mission to give back time to our customers and in return, they shift more and more of their weekly spend on groceries to our services.
The new funding comes after the company raised $240m in a Series A round from Prosus, BOND, and Mubadala Capital in June this year.
The company intends to utilise the proceeds to expand its operations.
Founded in 2020, Flink has over 140 hubs in nearly 60 cities across four countries, serving 10 million customers.
The Berlin-based grocery delivery platform uses e-bikes to deliver nearly 2400 items, including fresh herbs, fruits, bread, essentials, and home supplies.
For Doordash, the investment marks its entry into Europe.
In a call with analysts in November, DoorDash CEO Tony Xu said: “At DoorDash, our mission is to grow and empower local economies. We started in food delivery logistics and our vision was always to build a platform that supports all of local commerce and to do it on a global basis.
“To date, we have executed against this primarily on an organic basis. That’s not because we believe it must be done organically but because our framework for M&A sets a high bar.”
Headquartered in San Francisco, DoorDash offers restaurant food delivery services, with operations in Canada, Australia, and Japan.