Dutch online supermarketPicnichas bagged a cool 355mnin funding after a year of international expansion, the company announced today.
The grocery delivery service launched in the Netherlands back in 2015, before later entering France and Germany.
Picnic said that the expansion across Europe helped the business grow by 40% in 2023.
Turnover for the year reachedan estimated 1.25bn.
That made it Picnics fastest-growing city.
In the Netherlands, meanwhile, the recent growth has come from adding new customers in existing cities.
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We are building distribution centres and opening hubs in cities such as Hamburg, Berlin, and Paris.
We will then roll out grocery delivery district by district.
Compared to the Netherlands in the first years, we are growing even faster in Germany and France.
In addition, the investments inrobotisationfurther improve profitability and strengthen our unique market position.
The new investment includesfundingfrom The Bill and Melinda Gates Foundation Trust.
Picnic plans to spend the cash on furtherinternational expansion.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
