Oliver Merkel, Julian Dames, and Christoph Cordes founded the Berlin Based company in January 2021. Flink means quick in German. Throughout the companies short but storied history, they have been achieving their lofty mission to make Flink the number one choice when people need food that is is not only quickly delivered but also uncompromising on health and freshness. It's truly a wonder they've been able to do this in a market nearing oversaturation. Flink's CEOs feel that their extraordinary growth is because they constantly exceed this mission statement. The way they dominate a market that is continuously growing is not surprising. These are twenty facts you didn't know about this company:
1. Not going to stop
The fast delivery trend started in 2005 with Amazon and Prime Membership. Even with so many companies jumping on the trend, there is no stopping its incredible growth and expansion. Payments surveyed many consumers in May 2021. Seventeen percent of all consumers use digital platforms for groceries, and 72 percent will still use them over traditional grocery stores after the Pandemic ends. The statistics and Flink's ambitious model all but ensure that their company will skyrocket.
2. Not the only one
Alongside Flink, three other vital players launched during the Pandemic. Gorillas Getir and Weezy all hit the market at the same time. However, Flink remains the standout. Their model is so ambitious and practical that they leave the other startups far behind. Flink has never shied away from the competition. Everything they've done seems to turn to gold. Their company's model contributes to this industry in many ways that other companies can not match.
3. Move Over Jimmy Johns
This company indeed provides "freaky fast delivery." Many companies have fast delivery. Flink ranks as the most immediate. Their company is the only model that delivers groceries in 10 minutes. Flink's concept is an excellent meld of a well-rounded founding team shaking up the market. Grocery retail is one of the largest undigitized markets with only 3% online penetration. It is projected with their best-in-class operations, they will be "hyper-local" and always satisfying their customers.
4. Work with the best
REWE is a German supermarket chain that collaborated with Flink, a preferred partner for shorter shopping trips. This complements the model REWE works toward a model for people who need to make larger grocery trips. This partnership brings together the best online grocery market, since each brings different things and creates a well-rounded business model.
5. Supply exceeds COVIDs demands
The significant growth of delivery stores is likely to be the Pandemic. This company might not have the Cinderella story that is rocking the market. The most considerable curiosity is whether or not these companies will flourish with the influx in the market. Bulls Over Bears ran an article and spoke with Daegwon Chae, the general partner at BOND. He said, "Flink is a pioneer in a new model of commerce that is purpose-built for consumers who expect better, faster, cheaper services," He went on to say, "We have been impressed by Flink's ability to scale rapidly while delighting customers through a seamless experience, and are excited to partner together as Flink builds the grocery store of the future." Unfortunately, the Pandemic is a time of job loss. However, startups who choose essential markets like grocery shopping are experiencing unprecedented success.
6. Revolutionary works
Flink is a standout in European markets because of its model. It caters to consumers who want faster delivery without sacrificing quality. The company works tirelessly to make its customer's shopping trips seamless. Additionally, Flink targeted its hubs to European cities where lockdown orders were in place. Throughout the Pandemic, many stores were consistently running out of groceries. Since Flink has its distribution center, it did not have that issue.
7. Stay with what You know
Flinks' assortment of groceries is less expensive than other companies. However, it's their speed that makes customers gravitate towards them. Since they pride themselves on the fastest delivery in an ever-expanding market, it's easy to see why consumers choose their service for grocery items when they only need several things. According to GoFlink, "No matter what you need: We deliver your groceries including fresh fruit and vegetables in organic quality directly to your home. Within 10 minutes and at supermarket prices."
8. Oliver Merkel Co-Founder
Typically, he is the spokesperson for the company. Currently, he splits his time between Flink and Bain & Company, Berlin office. His work is heading consumer products and retail practices. During his 20 years in the market, he has worked with leading companies in consumer packaged goods. The work done includes a route to market strategy, pricing, and digital strategy. His Ph.D. in business administration and economics is from the University of St. Gallen in Switzerland. Additionally, he holds a master's in business communication from Berlin University of Arts.
9. Know your audience
One of the things that separate them from the pack is that they appeal to a demographic that hasn't been fully actualized in the influx of grocery delivery. They want to create a service that younger consumers gravitate. Essentially, their forward-thinking company understands this market typically has smaller fridges and can't wait and go to the grocery store every two weeks. Additionally, people want things now in the instant gratification age, and their practical delivery makes that possible.
10. Almost a unicorn
According to Investopedia, "Unicorn" is used in the venture capital industry to describe a privately held startup company with a value; of over $1 billion." The amount of seed and startup money they've raised is impressive. Since the companies inception in January, they have raised $240 million in series A funding led by Proses BOND Mubadala Capital.
11. Like Mushrooms
Everything about this company is impressive. They came into the online market industry, which was ambitious, to say the least, because there are already so many fierce competitors. However, they have exceeded expectations, evidenced by the fact that they are opening a new hub every two days and have already expanded to 24 European cities. According to payments, Oliver Merkel, CEO, said, "The order growth we have seen over the past weeks has been explosive, and we attribute that to the excellent service we are providing to our consumers."
12. Beginners luck
There has been a surge of online delivery stores in Europe, which began during the Pandemic. Flink is the newest competitor who raised $52 million in seed funding. Flink's ambitious company uses its distribution centers to deliver groceries in less than 10 minutes.
13. Small But Fierce
Flink only has 120 people in their company. Oliver Merkel, the CEO, said in an interview with Tech Crunch in March, "We've received fantastic NPS feedback and see people using Flink multiple times a week. With the additional funding, we can roll out Flink even faster in Europe."
14. Christoph Cordes co-founder
He is the Vice-President of Flow Cytometry at Luminex Corporation. He has more than 20 years of experience in sales and marketing. Additionally, he has significant international experience, including European expatriate assignments. He is an alumnus of The University of Texas Austin.
15. It's not bragging if you deliver
Flink hails their company on the company saying, "No matter what you need: We deliver your groceries including fresh fruit and vegetables in organic quality directly to your home. Within 10 minutes and at supermarket prices." More and more customers searching for delivery services are gravitating to this company over its competitors. They set the bar high for other companies in the same market due to their fast momentum and rapid growth. This rapid expansion without compromising quality is the formula for Flink's rapid rise to the top.
16. Knowing a good thing when you see it
Investors like Target Global, Northzone, and Cherry ventures have given the small company $52 million in one round of funding. Additionally, Cristina Stenbeck from Kinnevik invested personal capital. This is more proof that they are dominating the market. They don't seem like a company that would be such a standout.
17. Julian Dames co-founder
He is the chief marketing officer at Foodora. He coordinates various marketing teams across many markets. He has consulted for companies like Bain & Company, which he thinks created his strong management skills. He has a Bachelor's and Masters's in Strategic Management and Finance.
18. Dark horse
In a Forbes interview, it was said, "Dark stores are traditional retail stores that have been converted to local fulfillment centers. They come in the form of grocery stores, clothing brands, and home goods retailers." Some of the most well-known grocery stores like Whole Foods and Kroger have embraced this model. Yet, a small company like Flink is the one shaking up the market.
The growth of this company was predicted in the amount of capital raised during early funding rounds. In an article in strongcaretaker they said, "The size of this all-equity Series A is extraordinary considering that company only launched in December last year. "
Their competitors are Gorillas in Berlin, Dija and Weezy in London, and Cajoo in fresh, who all have a similar mission. Jessica Schultz, general partner at Northzone "Getting all your groceries, and not only convenience items but also your fresh herbs, your fruits, your bread… in less than 10 minutes is truly a wow experience. I'm incredibly impressed with what the Flink team has achieved to date in this very fast-moving industry. Of its competitors, Flink is the smallest but has the most innovative platform."
Many of the biggest providers in this industry have failed to deliver. So, it was a leap of faith for a small unknown company to try its hand at the market. Amer Alali said, "Flink can become a major partner in the digital grocery sector, and we look forward to partnering with them on their journey. The concept of instant grocery involves the construction of multiple hubs. In June 2021, Tech Crunch ran an article discussing Flink's impressive growth. The numbers don't tell the whole story, even though they impose $24M after their launch in January 2021. The market for online services that deliver has grown to meet consumers' ever-growing need to use their time for other things.
A downfall of companies like Flink is that they are opening very fast, so quickly they may saturate the market. Gorillas, Glovo, Everli and Rohlik are Flinks closest competitors. Ocado is a more significant player in the evolving market, adding an online delivery to their already successful brick and mortar stores. Ingrid Lunden, a Techcrunch writer, quipped, "More money for space, and something tells me it's not the final chapter. For us, we can order some popcorn on one (or more) of these platforms and watch how it plays out." The entire market is a watch and see. The evolution of grocery stores is fascinating. They were once places where cashiers knew your name, and meat cutters knew your order before you placed it. If you shop on the same day, you'd typically see familiar faces. Now, with the ever-growing online grocery stores, it's about convenience and not giving up a part of your day to put food in your fridge. Flink's speed and commitment make it stand out in the market.
Written by Dominique Scappucci
Read more posts by Dominique Scappucci