Flink
Unicorn · $2.1B12 known investors
Berlin-based Flink SE delivers groceries and everyday items from its own dark stores in Germany and the Netherlands.
Also known as Flink SE · goflink
Investors · 12
Also in the syndicate · 4
Funding
SEC filings, press & company announcements$100M disclosed across 1 of 8 rounds · 2021–2026
- $100MraisedMar 2026 · 3 sources
Prosus (lead)
Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026Flink SE is a German on-demand grocery and everyday-goods delivery company headquartered in Berlin. It fulfils orders from "dark stores" — hyper-local grocery warehouses not open to the public — located in densely populated areas, with deliveries made by Flink employees on company-provided e-bikes. Reported delivery times range from as little as 10 minutes in earlier marketing to an average of about 35 minutes depending on location. The assortment covers fresh produce, meat, dairy, bakery, snacks and household essentials, plus meal kits and prepared meals, ordered through iOS and Android apps that include personalised recommendations, restocking notifications and in-app support chat.
Flink became the largest third-party delivery service in Europe in 2021, surpassing Gorillas, and said it served up to 10 million customers from more than 140 locations in over 60 European cities. After the post-pandemic contraction of quick commerce, the company narrowed its footprint: it withdrew from Austria in December 2022 and exited France in 2024 after its subsidiary there entered bankruptcy proceedings. As of September 2024 it operated 146 hubs across roughly 80 cities in Germany and the Netherlands with 8,900 employees, expected gross revenue of about $600 million for 2024 in those two markets (up 20% year on year), an average basket size of about $40, and EBITDA break-even in both markets while targeting overall profitability by the second quarter of 2025.
Founding story
Flink was founded in 2020 by Oliver Merkel, Christoph Cordes and Julian Dames, with Merkel as CEO; Wikipedia also lists Saad Saeed and Nikolas Bullwinkel among the founders. Merkel had previously led the consumer goods practice at Bain and headed its Berlin office, while Cordes co-founded Foodora, was CMO at Foodpanda, VP at Delivery Hero and former co-CEO of the listed online furniture retailer home24. The idea came from Merkel's private six-figure investment in Gorillas' November 2020 Series A, which gave him insight into the business's margins and profitability metrics; after recruiting Cordes and Dames, the team raised a first seed round of EUR 10 million at a EUR 30 million post-money valuation to accelerate launch.
Business model
Flink operates an owned-inventory, vertically integrated quick-commerce model rather than an aggregator marketplace: it stocks its own hyper-local dark stores, employs its riders and controls the delivery fleet of company-provided e-bikes. Retail partnerships underpin the assortment, with REWE acting as exclusive supplier in Germany and, following the Cajoo acquisition, Carrefour taking a shareholding and an exclusive partner role in France. In 2024 the company added a "preferred partnership" with Just Eat Takeaway for Germany and the Netherlands.
Revenue comes primarily from selling groceries and everyday items through its own platform and from delivery fees charged on orders.
Traction
Flink said in 2021 that it delivered to up to 10 million customers at more than 140 locations in over 60 European cities. By September 2024 it reported 146 hubs across around 80 cities in Germany and the Netherlands, 8,900 employees, expected 2024 gross revenue of about $600 million in those markets (up 20% on 2023), an average basket of about $40, EBITDA break-even in both markets, a target of overall profitability by Q2 2025, and plans to open 30 more locations within the following year. Cumulative funding exceeded $1.5 billion before the September 2024 round.
Latest developments
In March 2026, Flink announced a $100 million round led by Prosus NV that included existing investors and new investor Btomorrow Ventures, the venture arm of British American Tobacco; a person familiar with the matter said the round valued Flink at $900 million, up from its trough after a plunge from its pandemic-era peak. Separately, co-founder Oliver Merkel has moved on from the company to found BLOCKS, a Berlin cloud-cost-optimisation startup that raised $6 million in pre-seed funding led by Speedinvest.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Flink was described as Europe's largest third-party delivery service after overtaking Gorillas in 2021 and, through the sector's consolidation, one of the last remaining independent quick-commerce operators in Europe. It was an acquisition target for Gorillas, Getir, Amazon and Gopuff before choosing to continue independently. Its valuation fell from roughly $2.1 billion at the end of 2021 and a reported peak near $3-5 billion in 2021-2022 to just over $1 billion in 2023, just under $1 billion in 2024 and $900 million in 2026.
Flink's model rests on operating its own dark-store network and employed rider fleet, which supports short, controlled delivery windows compared with aggregators that source from third-party shops. Exclusive supply relationships with large grocers — REWE in Germany, and Carrefour in France following the Cajoo deal — provide assortment and pricing positioned as competitive with other grocery delivery services.
Technology
The service runs on consumer iOS and Android apps backed by a network of dark stores and an employed e-bike courier fleet. The app applies machine learning to generate personalised product recommendations and sends restocking notifications, and offers in-app chat for customer support.
Go-to-market
Flink acquires customers through its consumer mobile app and rapid geographic rollout of hubs, supported by promotions such as free delivery above a minimum order value and by exclusive retail partnerships that supply and co-brand the assortment. Expansion has combined organic hub openings with acquisitions (Pickery in Hamburg, Cajoo in France), and, since 2024, distribution via a preferred partnership with Just Eat Takeaway in Germany and the Netherlands.
Urban consumers in densely populated European cities seeking fast home delivery of groceries and household essentials, with an average order value of about $40.
Geography
Headquartered in Berlin, Germany, with offices in Germany and the Netherlands. Flink previously operated in Germany, France, the Netherlands and Austria; it left Austria in December 2022 and France in 2024, and as of 2024-2026 operates in Germany and the Netherlands, with 146 hubs across about 80 cities.
History
Flink was founded at the end of 2020 in Berlin. In late 2020 the founding team acquired Pickery, a newly launched Hamburg delivery app, whose founders Saad Saeed and Nikolas Bullwinkel joined as Directors of Technology and Experience; Pickery was rebranded as Flink and launched publicly in January 2021 from Hamburg, expanding within a month to five German cities. A $52 million raise in March 2021 accompanied entry into the Netherlands and France, and a $240 million round in June 2021 took the company past a $1 billion valuation within six months of founding. After rebuffing acquisition interest, Flink secured a $750 million round led by DoorDash in December 2021, ending that year valued at about $2.1 billion.
The subsequent downturn in instant delivery reversed that trajectory. Flink acquired French rival Cajoo in 2022 for around EUR 100 million, then withdrew from Austria in December 2022. In May 2023, reported takeover talks with Getir were called off; Flink cut 100 roles at its Berlin headquarters and was reported to be taking a further EUR 150 million from investors including REWE and DoorDash, with its valuation down to just over $1 billion. The French subsidiary filed for bankruptcy in April 2024 and Flink exited France, refocusing on Germany and the Netherlands. It raised $150 million in September 2024 and $100 million in a Prosus-led round announced in March 2026 at a $900 million valuation. Co-founder Oliver Merkel later transitioned out of his role and started a separate Berlin company, BLOCKS.
Risks & controversies
Flink has been exposed to the sharp post-pandemic contraction in instant delivery: its valuation fell steeply from pandemic-era peaks, it faced financing difficulties in 2023, cut about 100 roles at its Berlin headquarters, exited Austria in 2022 and saw its French subsidiary file for bankruptcy and be liquidated in 2024. The business was loss-making as of 2023, and sale processes with Getir (and earlier interest from Just Eat Takeaway, Gopuff, Gorillas and Amazon) did not result in a transaction. Rapid growth also created operational cost control problems, including a cloud bill that rose by EUR 50,000 in a single month.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 11
launches, deals, and filingsCo-founder Oliver Merkel transitioned out of his role at Flink and founded BLOCKS, a Berlin-based cloud cost management startup that raised a $6 million pre-seed round led by Speedinvest.
Flink described a "preferred partnership" with Just Eat Takeaway covering its business in Germany and the Netherlands, alongside its September 2024 funding round. REWE was an existing preferred partner.
Flink's French subsidiary filed for bankruptcy and the business was to be liquidated in France; Flink subsequently exited the French market.
Reports (Manager Magazin, Tagesspiegel) said the sale to Getir had been called off, that Flink would lay off 100 workers at its Berlin headquarters, and that Flink was set to receive EUR 150 million in additional funding, with REWE Group reportedly investing about EUR 50 million and DoorDash increasing its stake.
Financial Times reported that Turkish rapid delivery company Getir was in talks to acquire Flink. Coverage noted Flink's valuation had declined from $2.1 billion in 2021 to just over $1 billion, and that Flink was simultaneously seeking to raise $100 million from existing investors at a $1 billion valuation. Abu Dhabi's Mubadala held stakes in both companies.
Flink took over Cajoo, then number two in France with six million customers in Paris and the eight next largest cities, including its employees and all warehouses, for around EUR 100 million. As part of the deal, Carrefour, a Cajoo shareholder, became a Flink shareholder and exclusive partner in the French market.
Flink entered the Dutch and French markets alongside a $52 million financing.
Flink formed a partnership with German supermarket group REWE, which became the exclusive supplier of its products.
Pickery was rebranded as Flink and began operations in Hamburg, expanding within a month to five German cities including Munich, Berlin and Cologne.
Flink's founding team acquired Pickery, a delivery app launched in Hamburg; Pickery founders Saad Saeed and Nikolas Bullwinkel joined Flink as Directors of Technology and Experience. Pickery was rebranded as Flink in January 2021.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Flink Raises Funds at Higher Valuation Following Delivery Slump - Bloombergbloomberg.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Flink do?
- Berlin-based Flink SE delivers groceries and everyday items from its own dark stores in Germany and the Netherlands.
- Who are Flink's investors?
- Flink's investors include Btomorrow Ventures, Cherry Ventures, German Media Pool, Lightspeed Venture Partners, Northzone, Target Global, BOND, Speedinvest.
- How much funding has Flink raised?
- Flink has disclosed $100M raised across 1 of its 8 known rounds.