"Gorillas raises 1 billion dollars"

German speedy delivery company Gorillas, which operates in six countries, is said to be granted 1 billion dollars (854 million euros) in a new capital round. The Berlin-based start-up had been looking for fresh capital for some time.

Valuation of 3 billion dollars

According to Bloomberg reports, the German meal delivery company Delivery Hero would invest about 200 million dollars (171 million euros) in Gorillas. In total, the quick commerce company will raise about 1 billion dollars, although the financing is not yet completely finished. The new capital round values Gorillas at 3 billion dollars (2.56 billion euros).

In August, Gorillas was still negotiating with the American DoorDash about an investment of the equivalent of 350 million euros. A deal was not reached, however, because both parties could not agree on the strategy to be followed. DoorDash is now leading an investment round in Flink, a direct competitor of Gorillas.

Flash delivery companies are in fact web shops where people can order groceries, which are then delivered to their homes within ten minutes from local distribution hubs, the so-called ‘dark stores’. In recent months, these companies have experienced spectacular growth, backed by funds such as Silver Lake, SoftBank and BlackStone. Gorillas started in Berlin only last year, but today it is already active in six countries.