GP Bullhound invests in Glovo
Getting anything you want to your door.
1 April 2021 - GP Bullhound announces a follow-on investment into Glovo, one of the world’s leading multi-category delivery players, as part of a Series F funding round of €450M ($530M) led by Luxor Capital Group, with participation from existing investors including Delivery Hero and Drake Enterprises.

Founded in Barcelona in 2015, Glovo is a pioneering multi-category delivery app and one of the world’s leading delivery platforms. It operates in Southern Europe and EEMEA, connecting users with restaurants, grocery chains, pharmacies and retail stores.

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.

Oscar Pierre, Co-founder and CEO of Glovo, said: “We’re thrilled to have the continued backing of GP Bullhound 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 and accelerate our leadership position, 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.”

Joakim Dal, Partner at GP Bullhound, added: “As long-standing investors in the company, we are excited to continue supporting Glovo. There is currently a tremendous momentum in the online delivery sector, and we strongly believe in Glovo’s power of innovation, and its vision of delivering anything, anywhere.”

GP Bullhound invested through Fund V, following other recent investments including Wallapop, Discord, Vivino, Elias, DuckDuckGo and MariaDB.

Enquiries
For enquiries, please contact:
Joakim Dal, Partner, joakim.dal@gpbullhound.com

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 10 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com

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