Berlin-based grocery delivery unicorn Flink has raised €100 million in funding to extend its runway and outlast its competitors in the on-demand grocery delivery sector. Flink offers food and supplies at supermarket prices with delivery promised in under 10 minutes.
Founded in 2020 by Oliver Merkel, Julian Dames, and Christoph Cordes, Flink focuses on quick delivery, collaborating with large merchants to provide fresh goods to customers’ doors within minutes. The company aims to make quick food delivery accessible to a wide range of people, not just young urbanites with disposable income.
This funding round comes at a time when the grocery delivery sector is facing challenges such as higher costs and lower demand. While the sector experienced growth during the pandemic, many startups struggled with low margins, high acquisition costs, and competition.
Previously, Flink raised $750 million in a Series B round led by DoorDash, valuing the company at $2.1 billion. In 2022, it acquired competitor Cajoo, gaining access to the French grocery chain Carrefour and expanding its presence in France.
The battle for online food and grocery delivery dominance in Europe has intensified, particularly in Germany. In 2022, rival delivery company Getir was in talks to acquire Flink but later purchased German firm Gorillas for $1.2 billion. Getir aimed to dominate the rapid grocery delivery sector and expanded its operations in several countries, including the United States.
