Both Lola Market and Mercadão already operate in the on-demand delivery space, connecting supermarkets and local independent stores with customers. Lola Market operates in Spain while Mercadão is exclusive to Portugal; the two companies have a combined portfolio of over 30 partners across the two countries.
The acquisitions follow a EUR 450 million Series F funding round that was completed in April 2021. As part of the funding, Glovo announced it plans to invest the capital into its q-commerce operations and expand into new territories.
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