Glovo, a Spain-based on-demand delivery startup, has secured EUR 150 million in Series E funding.
Glovo intends to use the funds to consolidate its position in the market as it moves towards profitability, expand its tech team, continue to strengthen its tech offering by further streamlining its user experience, reducing the waiting time for couriers and customers, and opening new dark stores and cook rooms.
The company recently entered the Polish market, acquiring Pizza Portal in a EUR 35 million deal, and investing in a second technology hub in Warsaw.
Glovo will continue to innovate in the delivery sector and build out its multi-category offerings, delivering beverages, pharmaceutical products and other everyday items. To keep on growing its groceries category, Glovo will continue to seek strategic partnerships, similar to its deal with Carrefour, and invest in its own dark supermarkets.
The company currently operates seven dark stores in Europe and Latin America — with locations in Barcelona, Madrid, Buenos Aires and Lima — and plans to open 100 by 2021.
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