Flink Raises $52 Million and Plans to Implement New Features
References: techcrunch
Flink is an on-demand grocery delivery service in Europe and it takes a vertical business approach as it operates their own delivery only or what is described to be a "dark store." Flink operates out of Berlin and most recently, it announced that it has raised $52 million in seed financing. It officially launched only six weeks ago and the word "flink" directly translates to "quick" in German.
With the new financing, it will be used to expand beyond Germany and into more European markets. Within Q2 of this year, Flink is set to launch its official stores in France and Netherlands and kicking off with cities including Amsterdam and Paris. Founder of Flink, Oliver Merkel states, “Consumers absolutely love to get their grocery shopping done in 10 minutes, [...] We’ve received fantastic NPS feedback and see people using Flink multiple times a week. With the additional funding, we can roll out Flink even faster in Europe.”
Image Credit: Flink
With the new financing, it will be used to expand beyond Germany and into more European markets. Within Q2 of this year, Flink is set to launch its official stores in France and Netherlands and kicking off with cities including Amsterdam and Paris. Founder of Flink, Oliver Merkel states, “Consumers absolutely love to get their grocery shopping done in 10 minutes, [...] We’ve received fantastic NPS feedback and see people using Flink multiple times a week. With the additional funding, we can roll out Flink even faster in Europe.”
Image Credit: Flink
Trend Themes
1. Vertical Grocery Delivery - The success of Flink's vertical grocery delivery model presents an opportunity for other companies to enter the market with a similar approach.
2. On-demand Grocery Delivery - The popularity of on-demand grocery delivery services, as seen with Flink's recent funding round, shows potential for growth and expansion in the industry.
3. Expansion Into European Markets - Flink's plans to expand into France and the Netherlands demonstrates opportunity for companies to tap into new European markets for grocery delivery services.
Industry Implications
1. Grocery Delivery Services - Flink's success in the grocery delivery market highlights the continued growth and potential of the industry, with opportunity for disruption through innovative delivery models and technology.
2. E-commerce - Flink's business model highlights the growing importance of e-commerce in the grocery industry and presents opportunities for companies to explore new ways to reach customers through online channels.
3. Logistics - Flink's successful implementation of a vertical grocery delivery model demonstrates the importance of efficient logistics in the grocery industry and presents opportunities for companies to innovate in this area to improve delivery speed and customer satisfaction.
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