Flink

History

2021: Attracting $52 million of investments

In early March 2021, the Berlin-based fresh food delivery company Flink raised $52 million. The round was led by the Target Global fund founded by Russians and investors Northzone, Cherry Ventures and TriplePoint Capital from Silicon Valley.

The total financing of the company is $64 million. Flink intends to use the funds received to expand Netherlands into and. France Although Flink was officially launched only at the end of January 2021, the company has already managed to open 10 stores in a number of cities. Germany These include Berlin Hamburg, Munich, Nuremberg, Dusseldorf and Cologne. Flink (which means "fast" in German) promises customers to deliver products from their own network of fullfilm centers in less than 10 minutes.

Russian-founded Target Global invested in Flink food delivery service

The timely delivery of fresh produce presents many logistical challenges, such as creating a reliable supply chain and ensuring the supply of products that customers need. However, experts note that instant delivery of purchases will soon become a "new standard" in the general retail chain, and products are an ideal category for starting such sales, since they are needed by everyone in fresh form several times a day.

The existing supermarket infrastructure cannot provide express delivery of products, and large companies do not have the skills to create grocery stores with instant delivery on request, so for now the main competitors of Flink are the same fast delivery stores, primarily the German company Gorillas and the British company Dija. In the second quarter of 2021, Flink intends to open the first stores in the Netherlands and France, starting with cities such as Amsterdam and Paris, and then switch to other European markets.^[1]

Notes