Technology

German superfast delivery specialist Flink raises $ 750 million

DoorDash, the American home delivery specialist, is moving toward ultra-fast delivery in Europe by leading Flink’s $ 750 million fundraiser. The German start-up specializing in ultra-fast home delivery of groceries announced on Friday, December 10, 2021 that it had reached a valuation of $ 2.1 billion as a result of this fundraiser. Also contributing to this Series B Mubadala Capital, existing investors and new investors.

A network of mini-warehouses

The startup was founded in December 2020 by Oliver Merkel, Julian Dames, and Christoph Cordes. Its first warehouse opened in 2021. Today Flink claims to be present in 4 countries, including France, with more than 140 warehouses in more than 60 cities. Up to 2,500 different products are offered to customers. Its most important markets are Germany and the Netherlands.

Like its competitors, the German start-up’s model is based on mini-warehouses located in the city center, as close to customers as possible. This allows the German Nugget to offer a delivery service in as little as 30 minutes. This market has grown strongly in recent months. Its competitor Gorillas announced that it had raised 860 million euros last October.

Very strong competition

DoorDash was expected to enter the European super-fast delivery market. Rumors about a DoorDash investment in German startup Gorillas have been circulating this summer. The American company finally prefers its competitor Flink. Also, to enter this market in Europe, Uber has announced that it has entered into a partnership with Carrefour and the French nugget Cajoo, which has raised 46 million euros this year.

Currently, all the start-ups in the sector are trying to attract as many customers as possible through large marketing campaigns and promotional offers, which explains the amounts of fundraising. A strategy that can recall those carried out by the actors of the VTC or the delivery of meals. It is true that, in the long run, few will survive.

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