Spain's Glovo secures $169 million in Series D financing round

05/02/2019 6:49:00 AM (GMT)

Spanish on-demand delivery startup Glovo has landed 150 million euros (about $169 million) in Series D financing round.

Lakestar led the Series D round with participation from Idinvest Partners, Korelya Capital and Drake Group.

Glovo will use the new capital to bolster its international growth in new markets across Africa, Europe and Latin America.

Additionally, the startup will also use the proceeds to scale its team of engineers and extend on-demand innovations including its groceries capabilities and dark supermarkets.

Glovo

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