Spanish home delivery company Glovo has raised €150m with its latest stake sale to continue its growth.
It did so in a round led by Abu Dhabi sovereign wealth fund Mubadala.
Glovo is a Start Up based in Barcelona, which allows users to instantly receive and ship any product within the same city..
Since its birth in Barcelona in 2015, it has consolidated its position in the markets where it is present:
In fact, it is part of the two top players from delivery in 24 of the 26 countries where it operates, and has established itself as a global leader in the sector.
In addition, the Catalan company continues to drive its international growth and to reinforce its engineering team to take its technological system to the next level.
Thus, it has recently entered the Polish market with the acquisition of Pizza Portal by 35M€and has invested in a second hub technological in Warsaw.
Glovo plans to expand its international technology team by hiring an additional 300 engineers by mid-2020, with 40 specialised engineers and 50 digital profiles in its new Warsaw office.
It will also improve the application, reduce waiting times for delivery drivers and users, and open up new Cook rooms.
Another important step will be the expansion of its "green" division.dark stores".
That is, own warehouses to centralise the distribution of products in order to improve the efficiency and times of their delivery drivers or "riders".
There are currently seven dark stores in Barcelona, Madrid, Buenos Aires and Lima, but plans to open 100 by 2021.
In order to implement all these plans, Glovo has just carried out a sale partial shareholding by 150M€the second of 2019.
Last April it raised another 150M€.
The latter round December's Series E financing round was led by Abu Dhabi's sovereign wealth fund Mubadala.
The app has also benefited from the support of previous investors such as Drake Enterprises, Idinvest y Lakestar.
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More than 70 dishes are available to eat daily, in the office.
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In 2019, in its first partial shareholding sale, the company managed to 1M€ for its development.
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It also enables business users to leverage their data and create powerful applications.
Founded in 2014, it connects with a variety of data sources, such as Google Drive, Office 365, Dropbox, y Box.
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