Led By DoorDash, Grocery Delivery Startup Flink Raises $750M

Rapid grocery delivery startup Flink raised $750 million in a Series B funding round at a pre-money valuation of $2.1 billion. The funding was led by DoorDash, with participation from Mubadala Capital.

The fresh infusion of new capital will be used to expand Flink’s market position in Europe’s quick commerce space. Available in about 60 cities in four countries, Flink aims to grow its presence by branching out and by acquiring competitors, according to reports.

See also: Report: DoorDash Heading up Fundraise for Grocery Delivery Firm Flink

Founded in 2020 and headquartered in Berlin, the startup delivers food and other essentials at supermarket prices and in under 10 minutes. The startup has over 140 micro-fulfillment centers across its delivery areas, including Germany and the Netherlands.

The financial backing by DoorDash in Flink marks its first move into Europe, aside from its 7 billion euros deal to acquire Finland’s Wolt, which isn’t expected to close until the second half of next year.

Read more: With Acquisition of Wolt, DoorDash Aims to Take on Uber Eats’ Global Reach

“We started in food delivery logistics, and our vision was always to build a platform that supports all of local commerce and to do it on a global basis,” DoorDash CEO Tony Xu told analysts on a call last month, referring to its investment in Wolt.

DoorDash has captured the meal delivery space in the U.S. but Uber Eats has a bigger international footprint, as does Grubhub parent Just Eat Takeaway. DoorDash, available in the U.S., Canada, Australia and Japan, pales in its reach compared to Uber’s availability in 45 countries, and Just Eat Takeaway’s presence in 25 countries.

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Flink’s Series A funding round in June was led by Prosus, BOND and Mubadala Capital. At the time, Flink said it had more than 50 local hubs since launching, opened a new hub every two days and reached over 3 million customers daily.

The startup was previously courted by both Amazon and Philadelphia’s delivery firm Gopuff for acquisition and was rumored to have considered a merger with Berlin’s Gorillas, according to reports.