On the heels of Deliveroo raising more than $2 billion ahead of its
debut on the London Stock Exchange this week, another hopeful in the food delivery sector has closed a super-sized round.
Glovo, a startup out of Spain with 10 million users that delivers restaurant take-out, groceries and other items in partnership with brick-and-mortar businesses, has picked up a Series F of $528 million (€450 million).
Glovo aims to become the market leader in the 20 markets in Europe where it is live today, in part by expanding its “q-commerce” service — the delivery of items to urban consumers in 30 minutes or less — and it will be using the money to double down on that strategy.
This is a milestone funding round not just for the company, but its home country: it marks the largest-ever round raised by a Spanish startup.
