Glovo, the Spain-headquartered on-demand delivery app that has similarities to Postmates in the U.S., has raised $169 million (€150m) in Series D funding. Lakestar led the round alongside Drake, owner of global pizza franchise Papa John’s.
…Founded in January 2015 by Oscar Pierre and Sacha Michaud, Glovo offers a ‘shop on your behalf’ app that promises to let you order anything locally on-demand and have it delivered “within minutes”. This includes food items — the company is known for its McDonald’s deliveries in Spain — and non-takeout food and other verticals, such as groceries and pharmaceuticals.
The fast-growing company claims more than 5.5 million unique users and 16,000 associated partners, and now operates in 124 cities across 21 countries, including EEMEA, LATAM, and most recently in Sub Saharian Africa.
…“Today, more than 70 percent of our business is food, followed by groceries, courier and pharmacy,” adds Pierre. “Our vision is to make everything in a city instantly available through the app, and we want to expand into other areas beyond delivery (services, reservations, etc) soon”.