Flink announced raising $52 million in seed financing led by Target Global.
Flink, a Berlin, Germany-based startup building a food delivery ecommerce operation, announced completing a seed funding round of $52 million.
The money is a combination of debt and equity, all provided by investors led by the German VC Target Global, with participation from existing investors Northzone, Cherry Ventures and Silicon Valley-based debt provider TriplePoint Capital.
The money will be used to expand across Germany, with plans of opening 10 fullfilment centers (they call them dark stores) in Berlin, Hamburg, Munich, Nuremberg, Dusseldorf and Cologne. The company also intend to establish a presence in the Netherlands and France.
Flink, founded at the end of 2020 by Christoph Cordes, Oliver Merkel, Saeed Bullwinkel and Nikolas Bullwinkel, is working for building a grocery delivery business out of their existing fullfilment centers, with a 10-minute delivery promise.