What is Glovo?
Founded in 2014, Glovo operates a sophisticated multicategory delivery platform that facilitates the on-demand transport of food, groceries, and various retail items. The company distinguishes itself through a mobile-first approach that connects local merchants with a vast network of delivery couriers, effectively digitizing the last-mile logistics experience. Headquartered in Spain, the firm has successfully exported its business model to numerous countries across Europe, Africa, and Asia, positioning itself as a vital component of the modern gig economy and local commerce ecosystem. Its commitment to innovative logistics solutions has allowed it to maintain a competitive edge in the rapidly evolving on-demand delivery landscape.
How much funding has Glovo raised?
Glovo has raised a total of $1B across 7 funding rounds:
Private Equity
$2.1M
Series A
$5.6M
Series B
$35.2M
Series C
$92.7M
Series D
$169M
Series E
$167M
Series F
$530M
Private Equity (2015): $2.1M with participation from Cube Investments and Antai Ventures
Series A (2016): $5.6M led by Antai Venture Builder, Seaya Ventures, Bonsai Capital Ventures, Entreu00e9 Capital, and Caixa Capital Risk
Series B (2017): $35.2M supported by Seaya Ventures, Caixa Capital Risk, Rakuten, Bonsai Capital Ventures, Cathay Innovation, and Entreu00e9 Capital
Series C (2018): $92.7M, investors not publicly disclosed
Series D (2019): $169M backed by Lakestar, Drake, Korelya Capital, and Idinvest Partners
Series E (2019): $167M with participation from Drake Enterprises, Idinvest Partners, Mubadala, and Lakestar
Series F (2021): $530M led by Luxor Capital Group LP
Key Investors in Glovo
Seaya Ventures
Seaya Ventures is a leading European and Latin-American venture capital firm based in Spain, investing in value-driven founders who are building global technology companies with a sustainable approach.
Caixa Capital Risk
CriteriaCaixa is a venture capital firm focused on investing in innovative startups at early stages, particularly in technology, biotechnology, and the industrial sector.
Entree Capital
Entree Capital backs founders building ambitious technology and product businesses, partnering with teams from the earliest stages through scale up.
What's next for Glovo?
Looking ahead, the strategic deployment of the latest investment will likely focus on deepening market penetration in existing regions while optimizing the unit economics of its delivery operations. As the company matures, the emphasis is expected to shift toward enhancing its technological stack—specifically in AI-driven route optimization and automated dispatch systems—to improve delivery speed and reduce operational overhead. Furthermore, the firm is well-positioned to explore new verticals within the quick-commerce space, potentially diversifying its revenue streams beyond traditional food and grocery delivery. By maintaining a disciplined approach to growth and leveraging its extensive network of global partners, Glovo is poised to sustain its momentum as a dominant force in the international logistics and delivery sector.
See full Glovo company page