- Flink raised $150 million to expand in Germany and the Netherlands, including $115 million in equity and $35 million in debt from investors like BOND, Mubadala, Northzone, and REWE.
- Flink aims to generate $600 million in revenue in 2024 and achieve profitability by Q2 2025.
Quick-commerce startup Flink has secured another significant funding round, raising $150 million at a valuation of nearly $1 billion. The fresh capital will be used to expand its operations in Germany and the Netherlands, in partnership with Just Eat Takeaway.
Investors in the round include BOND, Mubadala, Northzone, and supermarket giant REWE, along with two unnamed investors. The funding comes as a mix of equity and debt.
Flink's founder and managing director, Oliver Merkel, stated, "This investment will enable us to further expand our footprint, improve operational efficiency, and continue delivering the fast, reliable service that our customers rely on."
The company has experienced a tumultuous period in the instant-delivery market, which saw a surge in popularity during the COVID-19 pandemic. However, as the market has matured, many startups have faced challenges and consolidation. Flink itself has acquired Cajoo and exited France, focusing instead on Germany and the Netherlands.
Despite these challenges, Flink has demonstrated strong growth and profitability. The company expects to generate $600 million in gross revenue in 2024, up 20% from the previous year. It has also achieved profitability in EBITDA terms in both Germany and the Netherlands and aims to become overall profitable by the second quarter of 2025.
With this new funding, Flink is well-positioned to continue its expansion and strengthen its position in the competitive quick-commerce market.
Edited by Harshajit Sarmah
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