Glovo Acquisition, Valuation, Funding & Investors

OPay is a Lagos-headquartered mobile money platform operating in Nigeria and Egypt. The app facilitates peer-to-peer transfers, bill payments, ride-hailing, and grocery delivery backed by Opera Software. OPay issues virtual debit cards and offers microloans through its wallet, integrated with POS terminals nationwide. The service powers merchant QR payments and airtime top-ups for underserved populations.

GoTo is an Indonesian ecosystem that combines ride-hailing, delivery, and financial services under one app. The company operates primarily in Indonesia and is the product of a merger between Gojek and Tokopedia in May 2021, but recently divested the e-commerce business into a combined entity with TikTok Indonesia in 2024. Looking ahead, we expect the on-demand service to account for the majority of revenue while its financial services begin to ramp. Prior to the deconsolidation, 82% of nonfinancial services gross transactional value came from e-commerce, and the firm will begin to expand into financial services such as providing loans and buy now, pay later programs. The company competes with Grab in the ride-hailing and delivery business.

Weee! is a San Francisco-headquartered online grocery delivery service specializing in Asian and Hispanic products. Launched in 2015, it stocks over 20,000 items including fresh produce, seafood, snacks, and staples from China, Japan, Korea, Mexico, and beyond. Available in 20 U.S. metro areas, it offers same-day delivery through warehouses in California, New Jersey, and Texas.

ezCater is a Boston-headquartered online marketplace connecting users with local caterers for food orders. Founded in 2007, the platform facilitates group meals and events through ezcater.com, partnering with thousands of vendors nationwide.

Ninja is an Abu Dhabi-based quick commerce operator delivering groceries and daily essentials within 10 minutes. Launched in UAE, it operates dark stores in major cities and expands through hyperlocal fulfillment networks.

Nice Tuan is a Shanghai-based e-commerce platform specializing in daily groceries, fresh produce, household essentials, and local specialties delivered within two hours in urban China. Operating since 2018, it sources from regional suppliers and warehouses in Jiangsu province, offering bundled deals and subscription boxes for office workers through its WeChat mini-program and app.

Rappi is a leading on-demand delivery platform operating across Latin America, including Colombia, Mexico, Brazil, and Argentina. Customers use its mobile app to order groceries, meals, pharmaceuticals, pet supplies, and gifts, with options like Turbo for rapid service and integrated digital wallets for payments. Founded in 2015 and headquartered in Bogota, Rappi also facilitates travel bookings and cash delivery, serving millions through hyperlocal logistics networks.

Zepto is a Mumbai-headquartered quick-commerce platform delivering groceries, fruits, and electronics in 10 minutes via dark stores. Operating 300+ warehouses in 10 cities, Zepto stocks 5,000 SKUs from brands like Nestle and P&G. The app serves urban India with slotless ordering. Valued at $1.4 billion in 2023, it raised funds from Y Combinator Continuity.

Talabat Holding PLC is engaged in the on-demand online food ordering, delivery, takeaway and groceries and convenience retail marketplace in the MENA region, with operations in the UAE, Kuwait, Qatar, Bahrain, Egypt, Oman, Jordan, and Iraq.

Swiggy Ltd is a consumer-first technology company offering users an easy to use convenience platform, accessible through a unified app to browse, select, order and pay for food (Food Delivery), grocery and household items (Instamart), and have their orders delivered to their doorstep through on-demand delivery partner network. Its platform can be used to make restaurant reservations (Dineout) and for events bookings (SteppinOut). It has five business segments: Food Delivery, Out of home consumption, Quick commerce. Supply chain and distribution and Platform Innovations. Key revenue is generated from Food delivery business that offer on demand Food Delivery services through a network of restaurant partners and delivery partners, which is available through mobile application and or website.

Maplebear (Instacart) is a grocery-focused delivery marketplace that connects national and regional grocers with consumers and couriers, and consumers with their favorite stores. Its app provides on-demand convenience for consumers, allows couriers to earn income, and helps grocers to scale their business through digital channels. The marketplace gathers valuable consumer behavior data, attracting consumer-packaged-goods advertisers that seek to reach consumers at the point of purchase. With approximately 600,000 shoppers and 1,800 retail partners, Instacart delivers to about 98% of households in the United States and Canada.

Founded in 2012, Grab provides ride-sharing services, food and grocery delivery, and financial services (payments, consumer loans, and enterprise offerings) in eight Southeast-Asian countries through its mobile platform. The company partners with merchants and riders, connecting them with consumers while charging commission to both sides. Grab has a leading market share in and derives 89% of its revenue from its core businesses, ride-sharing and food delivery. Singapore, Indonesia, and Malaysia contributed more than 70% of revenue in 2024. Grab’s main competitors in Southeast Asia are Line Man and Goto. Its financial services business is still in its nascent stage and provides minimal revenue currently. The company now also generates advertising revenue.

Founded in 2011, Delivery Hero is an online delivery demand aggregator. The company is headquartered in Germany and operates in over 70 countries across Latin America, Asia, Europe, the Middle East, and Africa. Delivery Hero creates a marketplace for merchants to establish an online presence, market their offerings, and meet demand through delivery. Nearly half of Delivery Hero’s revenue is commission fees from merchants. Through its applications, which vary by region, customers can order meals, grocery items, pharmacy products, and retail goods. In addition, Delivery Hero operates Dmarts.

DiDi Global Inc is a mobility technology platform that provides a range of mobility services as well as other services. It is building four key components of its platform that work together to improve the consumer experience: shared mobility; energy and vehicle services; electric mobility; and autonomous driving. It is a go-to brand in China for shared mobility, providing consumers with a range of safe, affordable, and convenient mobility services, including ride-hailing, taxi-hailing, chauffeur, hitch, and other forms of shared mobility. The company operates in three segments: China Mobility, which mainly includes ride-hailing services to riders, and also acts as an agent by connecting end-users to service providers who provide taxi hailing; International; and Other Initiatives.

Souche is a Beijing-headquartered automotive new retail platform in China that operates used-car leasing through Tangeche, B2B supply chain services via Chehang168, and online trading on Cheyipai. Founded in December 2012 by Yao Junhong, a former CAR Inc. executive, the company secured over $1.2 billion in funding by August 2018 from investors including Alibaba, Ant Financial, Morningside Venture Capital, Warburg Pincus, and Primavera Capital. Recognized in PitchBook's 2017 New Global Unicorns Ranking, Souche manages additional platforms like car-sharing TIHD, dealer SaaS Dafengche, and dealership network Maicheguanjia, alongside ERP provider Breakthrough and logistics firm Iyunche, serving nationwide dealerships and consumers.

Karrot Market is a Seoul-based hyperlocal marketplace app for secondhand goods. Launched in 2015 as Danggeun Market, the platform facilitates neighbor-to-neighbor trading in categories like fashion, electronics, and home items. Available in South Korea, United States, Canada, United Kingdom, and Japan, Karrot emphasizes location-based matching to promote local economies. Features include in-app chat, photo verification, and dispute resolution tools. The service supports eco-conscious reuse through community guidelines.

Aihuishou is a Beijing-headquartered C2B recycling platform for second-hand electronics in China, specializing in mobile phones, laptops, and tablets from brands like Apple, Samsung, Huawei, and Xiaomi across over 30 categories. Operating via an online bidding system on aihuishou.com, it ensures competitive pricing for sellers and provides one-stop disposal services with nationwide pickup. Acquired by JD.com in 2018, the platform processes millions of devices annually, supporting circular economy initiatives.

Fetch is a Milwaukee-headquartered mobile rewards app where users upload receipts from any store to earn points redeemable for gift cards. The platform partners with 600 brands like Pepsi and Clorox for targeted offers, processing millions of scans monthly. Fetch provides retailers with shopping insights across 5,000 retailers.