Mubadala-backed German delivery start-up Flink raises $750m in new financing round

Funding will be used to expand operations and cash in on the home food delivery boom

Flink is one of several food delivery start-ups to have grown rapidly during the Covid-19 pandemic. Reuters

Grocery delivery start-up Flink has raised $750 million in an additional funding round, it said on Friday, giving the German company the funds to further expand and cash in on the home food delivery boom.

Flink is one of several food delivery start-ups, including Gorillas, Getir and Weezy, that have grown rapidly during the Covid-19 pandemic by delivering groceries within minutes of an order being placed using a smartphone app.

Its Series B funding round was led by US tech company Doordash in September, and included investors such as Mubadala Capital, part of Abu Dhabi's sovereign wealth fund.

The money will be used to expand its operations. The privately-held company currenctly has more than 140 delivery centres in more than 60 cities, reaching up to 10 million customers, with Germany and the Netherlands its largest markets.

"We are just getting started as we receive daily questions from people who ask, when they can reach our services," founder Oliver Merkel said.