Glovo, the Barcelona-based delivery startup has now announced it has raised $134 mn in its Series C round from international companies Rakuten, Seaya and Cathay ; alongwith AmRest, the largest publicly listed restaurant operator in Central Europe, the European funds Idinvest Partners and GR Capital, and other investors.
This brings the overall valuation of the startup to more that $350 mn. “We are very happy with this new injection of liquidity that will allow us to continue growing at an accelerated rate,” said Oscar Pierre, CEO and co-founder of Glovo.
Founded in January 2015 by Pierre and Sacha Michaud, Glovo offers a ‘shop on your behalf’ app that promises to let you order anything locally on-demand and have it delivered by couriers in a timespan of less than an hour. The service extends to both food items and non-food items. Glovo also has a geolocating sytem, through which customers can track their deliveries or find the nearest courier to their location.
Glovo recently launched in Cairo, after already having established themselves in 61 cities and 17 countries across Latin America, Europe and Africa. The company aims to use the new funding to further consolidate its market position in countries it operates on to fuel its further growth.
“My main priority is to invest in increasing our tech team to continue optimising the platform and offer the best service in the sector to our three main axes: riders, users and stores and become their reference delivery app.” says Pierre, as he describes Glovo’s plans for the future.