Glovo, one of the world’s leading delivery platforms, announced that it has raised €450M in its Series F funding round led by New York-based investment managers Lugard Road Capital and the Luxor Capital Group. The round also saw participation from returning investors including Delivery Hero, Drake Enterprises and GP Bullhound.
Following this latest funding round, the largest in history for a Spanish startup, Glovo will invest in expanding its footprint in the 20 markets in which it currently operates. The company will also focus on growing its newly-launched Q-Commerce division, which forms a significant part of its strategic commitment to multi-category deliveries in these markets. In its Barcelona headquarters, the company expects to expand the engineering team from 300 to 500.
Oscar Pierre, Co-founder and CEO of Glovo, said: “We’re thrilled to have the continued backing of Luxor Capital Group and all of our existing investors. Over the last few months, we’ve moved very, very quickly but our vision remains unchanged. This investment will allow us to double-down in our core markets, accelerate our leadership position in places where we are already very strong and continue to expand our excellent Q-Commerce division, as well as bring new innovations to our unique multi-category offering to extend more choice to our customers.”
Founded in Barcelona in 2015, Glovo operates in Southern Europe and EEMEA. The app connects users with restaurants, grocery chains, pharmacies and retail stores, and also includes an "anything" category that allows users to order whatever they want in their city.