Glovo
Barcelona-based on-demand delivery platform connecting customers, local stores and couriers. Founded in 2015 and majority-owned by Delivery Hero since 2022.
Industry: On-demand delivery | Location: Barcelona, Spain | Founded: 2015 | Total Funding: USD 869.2M
About Glovo
Glovo is a Spanish on-demand delivery company based in Barcelona. Its app connects customers with local stores, restaurants and couriers for food, groceries, pharmacy items, shop purchases and parcels. Its website reports 21 countries, 120,000 couriers and 150,000 local stores each month, and about 3,000 employees.
Oscar Pierre and Sacha Michaud founded Glovo in January 2015. Pierre is co-founder and chief executive, and Michaud is vice president of global affairs. Carles Rosas is chief financial officer and Shiro Theuri chief technology officer.
Glovo raised a EUR 5 million Series A in August 2016 and a EUR 30 million Series B in October 2017, led by Rakuten Capital and Cathay Innovation. A EUR 115 million Series C followed in July 2018, a EUR 150 million Series D led by Lakestar in April 2019 and a EUR 150 million Series E led by Mubadala in December 2019, which Glovo said took its valuation above USD 1 billion. In March 2021 it announced a USD 528 million Series F led by Lugard Road Capital and Luxor Capital Group.
Glovo left the Middle East and two Latin American markets in January 2020, and in September 2020 agreed to sell its remaining Latin American operations to Delivery Hero for up to EUR 230 million. In 2021 it bought foodpanda in Romania and Bulgaria, Donesi and Pauza from Delivery Hero for EUR 170 million, and acquired Lola Market and Mercadão. By September 2021 it operated in Morocco, Uganda, Kenya, Ghana, Côte d'Ivoire and Nigeria.
On 31 December 2021 Delivery Hero agreed to buy a further 39.4 percent of Glovo, on top of the 44 percent it held, at a valuation of EUR 2.3 billion. Delivery Hero then cited about 15 million annual active users and operations in 25 countries. Wikipedia reports that the deal closed in July 2022, leaving Delivery Hero with about 94 percent.
Delivery Hero, Glovo's parent, is the subject of a takeover offer from Uber at EUR 41.50 per share. Its boards recommended acceptance on 2 September 2026, and the acceptance period ends on 5 November 2026.
Leadership
- Oscar Pierre, Co-founder and Chief Executive Officer
- Sacha Michaud, Co-founder and Vice President of Global Affairs
- Shiro Theuri, Chief Technology Officer
- Arnau Cortés, Chief Operating Officer
- Carles Rosas, Chief Finance Officer
- Alex Menal, Chief Marketing Officer
- Cristina de la Rosa, Chief People Officer
- Frederic Altenbourger, General Counsel