Prosus, Bond, Mubadala Capital Lead $240 Million Funding Round in Germany's Flink

By Adria Calatayud

Dutch internet conglomerate Prosus NV, San Francisco-based investor Bond and Abu Dhabi's Mubadala Capital have led a $240 million funding round in German grocery-delivery company Flink, the companies said Friday.

Founded in December 2020, Flink said it has experienced "explosive" order growth over the past weeks. The company has opened more than 50 hubs in 18 cities after four months of operations, it said.

Flink said Friday that it has also entered into a long-term supply agreement with German retailer REWE Group.

Prosus said its participation in Flink's funding round follows other recent investments in the European food and grocery delivery sector, as it co-led a 223 million euros ($270.4 million) investment round in Norwegian online grocery business Oda in April and increased its stake in German food-delivery company Delivery Hero SE to 24.99% in March.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

June 04, 2021 06:10 ET (10:10 GMT)

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