Flink, a fast-growing quick-commerce player, has successfully secured $150 million in fresh funding—$115 million in equity and $35 million in debt—backed by a mix of new and returning investors, including BOND, Mubadala, Northzone, and German supermarket giant REWE.
Partnering with Just Eat Takeaway.com, Flink aims to strengthen its foothold in two of its key markets.
Two additional investors, yet to be named, also participated in the round. The capital injection will drive Flink’s efforts to expand operations across Germany and the Netherlands, where it operates 146 hubs in over 80 cities, with plans to open 30 more in the coming year.
"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 Oliver Merkel, founder and managing director of Flink.
Although the company’s current valuation remains undisclosed, the latest round comes as Flink undergoes significant recapitalization, having previously raised over $1.5 billion.
At the height of the quick-commerce boom in 2021, Flink was valued at nearly $3 billion following an investment from DoorDash. By early 2022, its valuation was rumored to be approaching $5 billion.
Flink, which reached unicorn status less than a year after its founding, is now navigating a more challenging market environment.
Inflation, increased regulations on “dark stores,” and waning investor interest have impacted the entire sector, but Flink remains focused on profitability.
The company projects $600 million in gross revenue in 2024, marking a 20% increase over 2023, and has achieved EBITDA breakeven in both Germany and the Netherlands, with overall profitability targeted for Q2 2025.
Flink’s average order size is currently $40, and its workforce stands at 8,900 employees.
