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European on-demand delivery startup Glovo raises €30 million Series B


Late closing month, Spanish media were given wind that the Barcelona-based on-demand delivery app Glovo had closed Series B investment, however now the corporate is making the inside track respectable.

The startup, which gives a provider very similar to Postmates within the U.S., has raised a €30 million spherical led by means of Rakuten Capital, and Cathay Innovation. Existing buyers Seaya Ventures, Entreé Capital, Caixa Capital Risk, and Bonsai Venture Capital additionally participated.

Founded in January 2015 by means of Oscar Pierre and Sacha Michaud, Glovo gives a ‘shop on your behalf’ app that guarantees to will let you order anything else in the community on-demand and feature it delivered “within minutes”. This comprises meals pieces — the corporate is McDonalds’ respectable delivery spouse in a variety of Spanish and Italian towns — but in addition non-food pieces. In August closing 12 months, Glovo CEO Oscar Pierre advised me that the latter, similar to electronics and prescription drugs, made up 50 in line with cent of orders.

Regards the Series B investment, Glovo stated it’s going to be used to beef up its marketplace place, and proceed to put money into its era platform and to “optimize the synergy between the three pillars of the marketplace: users, glovers and stores”. The startup has additionally recruited Niall Wass, who used to be up to now answerable for main the world growth at Uber throughout greater than 50 nations, as an guide and to assist with Glovo’s personal world ambitions.

The delivery app is already to be had in Barcelona, Madrid, Valencia, Zaragoza, Seville, Malaga, Palma de Mallorca, Bilbao, Rome, Milan and Paris. It claims 250,000 customers and three,000 companions, while I’m advised that during July the platform handed one million orders and is on course to surpass its 2 millionth order sooner than the top of the 12 months.

As a footnote, London-based Jinn, which competed immediately with Glovo, just lately pulled out of Spain as a part of a “pausing” of all operations out of doors of the U.Okay. capital town. Asked to remark, Glovo co-founder Sacha Michaud stated: “They were finding it difficult to get traction in the Spanish market, I think focusing on their largest market makes sense at this point”.

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