Glovo, the marketplace that enables users to instantly buy, receive and send any product within a given city, today announced its third financing round worth €5 million.
The Spanish startup, which now operates in Barcelona, Madrid, Valencia, Paris and Milan, will use the fresh capital to strengthen its leadership within the three countries in which it is present, maintaining the pace at which it is developing its mobile technology platform and continuing to improve the user experience.
By the way: Earlier this year we mentioned Glovo as one of “6 Spanish startups to look out for in 2016“.
The new funding round has been led by Antai Venture Builder, Seaya Ventures, Entreé Capital, Caixa Capital Risk and Bonsai Venture Capital.
Oscar Pierre, one of the Glovo co-founders explaines: “It is becoming increasingly evident that the inhabitants of large cities are in the process of developing a lifestyle and consumption pattern based on immediacy and the premise of “anything delivered now”. We see ourselves as the leaders of this revolution and that is why, within a few months, we will be able to deliver anything a user might need in 25 minutes and for a delivery cost of between €0 and €2.”
Sacha Michaud, also a Glovo co-founder stated: “The backing we are announcing today not only shows the confidence our partners have in a new project that has been up and running for a mere 18 months, but also highlights the transformation of the delivery sector, as Oscar has pointed out, and the faith being placed in solutions that, like Glovo, base their service on customisation and immediacy.”
Glovo is a benchmark mobile marketplace available for iOS, Android and online that enables its users to instantly buy, receive or send any product within a given city. It was founded in 2014 and reported exponential growth in the three markets in which it currently operates (Spain, Italy and France). The young company already counts more than 200,000 users and 300 partners. The Glovo team expects to triple its order volume in the next 6 months alone.