Berlin-based quick grocery delivery startup Flink secured $100 million in a new funding round. Existing investor Prosus NV led the investment with participation from new investor Btomorrow Ventures.
The round values the company at $900 million. This figure marks a sharp decline from its May 2022 valuation of nearly $5 billion.
Flink has reportedly reached EBITDA profitability. The company plans to use the new capital for targeted expansion in its core markets of Germany and the Netherlands.
The funding signals renewed investor confidence following a period of industry-wide consolidation and collapse. This move occurs as many competitors scale back operations or undergo acquisition.