Flink raises $240mn, enters into strategic partnership with REWE

Instant grocery delivery company, Flink, has raised USD 240mm from Prosus, BOND and Mubadala Capital. Alongside the fund raise, the German company has also entered into a strategic partnership with REWE Group, one of Germany’s largest supermarket chains.

The company completed the first funding round in February this year, which was led by Cherry Ventures, Northzone and Target Global. This follow-on round shows that investors are upbeat on the sector as German grocery market is expected to reach EUR 300bn in the coming years in market that is one of the largest undigitised ones with only 3% penetration.

Flink was founded in December 2020 by Oliver Merkel, Julian Dames and Christoph Cordes. So far it has more than 50 hubs in eighteen cities after four months of operations. Inline with other similar providers, Flink makes its deliveries in under ten minutes and currently rolls out a new hub every two days—to date it has directly reached more than three million customers to date.