Total amount raised
$1.4 Billions
Latest funding date
9/1/2024
Location
Flink has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers rapid grocery delivery, promising to bring essentials to your door within minutes.
Keep reading to explore the intricacies of Flink's fundraising journey and the investors backing this innovative platform.
What Is Flink?
Flink is a grocery delivery service that aims to deliver groceries to customers within minutes. They offer a wide range of products, including fresh produce, household staples, and cooking essentials. The company emphasizes speed, quality, and convenience.
Founded in 2020 in Berlin, Germany, Flink has quickly expanded its operations. The company was established by Oliver Merkel, Julian Dames, and Christoph Cordes. Their innovative approach has garnered significant attention and investment.
Flink employs thousands of people across its various locations. The service is available in over 100 cities, and they continuously expand their reach to meet growing demand.
How Much Funding Has Flink Raised?
- Seed Round
- Amount Raised: $52M
- Date: March 2021
- Lead Investors: Target Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and establish a market presence.
- Series A
- Amount Raised: $240M
- Date: June 2021
- Lead Investors: Bond, Mubadala Capital Ventures, Prosus & Naspers
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and scale the business rapidly.
- Series B
- Amount Raised: $750M
- Date: December 2021
- Lead Investors: DoorDash
- Valuation at Round: Nearly $3 billion
- Motivation Behind the Round: To solidify market leadership and enhance service capabilities.
- Corporate Round
- Amount Raised: €65M
- Date: May 2022
- Lead Investors: Carrefour
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To form strategic partnerships and expand product offerings.
- Venture Round
- Amount Raised: €150M
- Date: May 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and improve operational efficiency.
- Venture Round
- Amount Raised: $115M
- Date: September 2024
- Lead Investors: BOND, Mubadala, Northzone, REWE
- Valuation at Round: Just under $1 billion
- Motivation Behind the Round: To expand operations in Germany and the Netherlands.
- Debt Financing
- Amount Raised: $35M
- Date: September 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and expansion plans.
Flink has raised a total of $1.4 billion. The current valuation is just under $1 billion.
Key Investors
- BOND
- Details: BOND is a venture capital firm known for investing in high-growth technology companies. They focus on providing strategic support to help companies scale rapidly.
- Investment Focus Areas: Technology, consumer internet, enterprise software.
- Notable Investments: Stripe, Canva, DoorDash.
- Mubadala
- Details: Mubadala is a sovereign wealth fund from Abu Dhabi, investing in various sectors globally. They aim to generate sustainable financial returns for the government of Abu Dhabi.
- Investment Focus Areas: Technology, healthcare, real estate, infrastructure.
- Notable Investments: SoftBank Vision Fund, AMD, Cepsa.
- Northzone
- Details: Northzone is a venture capital firm focusing on early-stage and growth-stage investments in technology companies. They have a strong track record of backing successful startups.
- Investment Focus Areas: Technology, fintech, consumer internet.
- Notable Investments: Spotify, Klarna, Trustpilot.
- REWE
- Details: REWE is a German supermarket giant with a significant presence in the retail sector. They are known for their extensive network of grocery stores across Europe.
- Investment Focus Areas: Retail, consumer goods, logistics.
- Notable Investments: Primarily in expanding its retail operations and partnerships.
- DoorDash
- Details: DoorDash is a leading food delivery service based in the United States. They have expanded their services to include grocery and convenience store deliveries.
- Investment Focus Areas: Food delivery, logistics, last-mile delivery.
- Notable Investments: Caviar, Scotty Labs, Chowbotics.
What's Next for Flink?
Flink's future looks promising with significant opportunities for growth in Germany and the Netherlands. The company plans to open 30 new locations, aiming to generate $600 million in gross revenue by 2024. This expansion, coupled with a partnership with Just Eat Takeaway, positions Flink to capitalize on the growing demand for quick-commerce services.
Future fundraising efforts are likely, given the continued interest from investors like BOND and Mubadala. However, Flink will need to navigate challenges such as intense competition and the need to maintain profitability while expanding. Achieving operational efficiency will be crucial for sustaining growth and attracting further investment.
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