Seaya et al. in €115m series-C for Glovo

Japanese corporate venture player Rakuten Capital and Polish restaurant group AmRest also took part in the round.

French private equity house Cathay drew capital from Cathay Innovation Fund, which hit its €287m hard-cap in June 2017.

The deal will enable the company to invest in the development of its platform and hire more than 100 new employees in its engineering team.

According to a statement, Glovo has launched in 20 cities across six countries over the course of three months, with a particular focus on Latin America and the EMEA region.

Previous funding
Caixa Capital Risc, Bonsai Venture and Entrée Capital, alongside seed investor Seaya and several high-net-worth individuals, led a €5m series-A round for the business in August 2016.

Rakuten and Cathay then led a €30m series-B for Glovo in October 2017, with Rakuten reportedly contributing €25m towards the round.

Company
Founded in 2015 and headquartered in Barcelona, Glovo is a delivery platform focusing on food products, pharmaceuticals and electronics. The business operates across 61 cities in 17 countries, with a domestic presence in 21 Spanish cities.

People
Glovo – Oscar Pierre (co-founder; CEO); Sacha Michaud (co-founder).

Advisers
Company – Latham & Watkins (legal).

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• Topics
• Expansion
• Southern Europe
• Technology
• Spain
• IDInvest Partners (AGF Private Equity)
• Venture
• Cathay Capital
• Latham & Watkins