📈 Flink's $150M Fundraising
Flink, a quick-commerce startup from Berlin, has secured $150M in funding. The new round comprises $115M in equity and $35M in debt, supported by investors like BOND, Mubadala, Northzone, and REWE. The company’s valuation is now just under $1B. These funds will fuel its focus on Germany and the Netherlands, where it has already established strong market positions. Flink previously raised $1.5B, and its valuation once soared to $5B during the quick-commerce boom. Today’s funding arrives as part of a larger recapitalization effort for the company.
🤝 Strategic Partnerships
Flink is doubling down on its partnerships, especially with Just Eat Takeaway, which was once interested in merging with Flink. While it’s unclear if Just Eat Takeaway is one of the unnamed investors, Flink has confirmed the two are working together in a “preferred partnership.” Additionally, REWE, a significant investor and existing partner, continues to back Flink’s operations, reinforcing its commitment to the startup’s future growth.
🌍 Market Focus on Germany and the Netherlands
Flink is concentrating its efforts on Germany and the Netherlands, markets where it has achieved EBITDA break-even. The company has 146 hubs across 80 cities in these two countries and plans to add 30 more locations in the next year. Flink anticipates making $600M in revenue in 2024, reflecting a 20% growth compared to 2023. The company’s average order size has increased to $40, indicating improved customer spending and engagement in these core markets.
💼 Flink’s Future Path
Despite the challenges facing the quick-commerce sector, Flink remains optimistic about its future. The company has exited less profitable markets like France, similar to how Getir retreated to Turkey. Now, with a solid base in Germany and the Netherlands, Flink aims for overall profitability by Q2 2025. “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,” said Flink’s founder and managing director, Oliver Merkel.
Will Flink’s focused strategy lead to long-term success?
