# Glovoapp23, S.L.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/glovoapp23-s-l

- Industry: Consumer Services
- Headquarters: Barcelona, Spain
- Website: www.glovoapp.com
- Total disclosed funding: $1B
- Latest round: Series F (Mar 31, 2021)
- Investors on record: 18

## About

Based in Spain, Glovoapp23, S.L. is a logistics platform specializing in the delivery of a wide range of products, including food, groceries, and retail items, through its mobile application.Glovoapp23, S.L. operates as a logistics delivery service focusing on food, groceries, and retail products. Founded in 2015 in Barcelona, Spain, by Borja Peña, Gerard Olive, Miguel Vicente, Oscar Pierre, Sacha Michaud, and Sergio Casado, the company has evolved its business strategy to expand its delivery services. Oscar Pierre and Sergio Casado currently serve as CEOs. Glovo secured EUR 230.00 mn in a TRADE SALE funding round, raising a total of EUR 230.00 mn across 17 deals. Delivery Hero SE participated in this latest funding round, emphasizing Glovo's strong investor backing.Glovo is a logistics platform that specializes in the delivery of a diverse range of products, primarily focusing on food delivery, groceries, and retail items. It connects consumers with local restaurants, supermarkets, and shops through an intuitive mobile application, allowing customers to order from meals at top restaurants to essential items from pharmacies and convenience stores. The service operates in multiple countries, including Spain, Italy, Ukraine, Romania, and various other locations across Europe and Africa, where users can track their deliveries in real-time.In the most recent year, 2021, Glovo reported a revenue of EUR 157,904,699.40. However, its EBITDA for the same year was EUR -351,176,013.30, indicating operational challenges despite its revenue generation.Glovoapp23, S.L. plans to leverage its recent EUR 230.00 mn funding to enhance its delivery services and expand into new geographic markets. The company aims to introduce new logistics solutions and strengthen its market presence in regions not yet fully tapped, although specific markets and timelines for these expansions are not detailed. Additionally, recent exits from investors like Caixa Capital Risc, La Maison Bleue SAS, and Cathay Innovation suggest potential shifts in operational strategy as Glovo seeks to solidify its market position.

## Funding rounds

- Series F, Mar 31, 2021, $531M — Luxor Capital Group, Delivery Hero SE, GP Bullhound, GR Capital, Hedosophia, Drake Group
- Series E, Dec 18, 2019, $153M — Idinvest Partners, Mubadala Investment Company, Lakestar, Drake Group
- Series D, Apr 30, 2019, $179M — Idinvest Partners, Lakestar, Korelya Capital, Drake Group
- Series C, Jul 17, 2018, $135M — Idinvest Partners, Cathay Capital, AmRest Holdings S.E., Rakuten Group, Inc., Seaya Ventures, GR Capital
- Series B, Sep 21, 2017, $35M — Cathay Capital, Rakuten Group, Inc., Caixa Capital Risc, Entree Capital, Bonsai Venture Capital, La Maison Bleue SAS, Seaya Ventures
- Series A, Aug 11, 2016, $5.6M — Caixa Capital Risc, Entree Capital, Bonsai Venture Capital, Seaya Ventures

## Investors

- Caixa Capital Risc — Series A, Series B
- Entree Capital (https://capitalatlas.ai/funds/entree-capital) — Series A, Series B
- Bonsai Venture Capital (https://capitalatlas.ai/funds/bonsai-venture-capital) — Series A, Series B
- Seaya Ventures (https://capitalatlas.ai/funds/seaya-ventures) — Series A, Series B, Series C
- Cathay Capital — Series B, Series C
- Rakuten Group, Inc. — Series B, Series C
- La Maison Bleue SAS — Series B
- Idinvest Partners (https://capitalatlas.ai/funds/idinvest-partners) — Series C, Series D, Series E
- AmRest Holdings S.E. — Series C
- GR Capital (https://capitalatlas.ai/funds/gr-capital) — Series C, Series F
- Lakestar (https://capitalatlas.ai/funds/lakestar) — Series D, Series E
- Korelya Capital (https://capitalatlas.ai/funds/korelya-capital) — Series D
- Drake Group (https://capitalatlas.ai/funds/drake-group) — Series D, Series E, Series F
- Mubadala Investment Company — Series E
- Luxor Capital Group (https://capitalatlas.ai/funds/luxor-capital-group) — Series F
- Delivery Hero SE — Series F
- GP Bullhound (https://capitalatlas.ai/funds/gp-bullhound) — Series F
- Hedosophia (https://capitalatlas.ai/funds/hedosophia) — Series F