GP Bullhound has made a follow-on investment in Glovo, one of the world’s leading multi-category delivery players, as part of a Series F funding round of EUR450 million (USD530 million) led by Luxor Capital Group, with participation from existing investors including Delivery Hero and Drake Enterprises.
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.
GP Bullhound invested through Fund V, following other recent investments including Wallapop, Discord, Vivino, Elias, DuckDuckGo and MariaDB.
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