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AmRest Holdings SE seeks to invest in Delivery Startup Glovo

According to unnamed sources, Polish restaurant group AmRest Holdings SE is looking to invest in Spanish startup Glovo.

Glovo, which offers a ‘shop on your behalf’ app that promises to let you order anything locally on-demand and have it delivered “within minutes”, is seeking  to raise about 115 million euros ($135 million)

The funding round is not complete and the size of the deal and the new investors, including AmRest, could still change. Japanese e-commerce operator Rakuten Inc. and Spanish venture capital Seaya Ventures are among existing shareholders of the Barcelona-based delivery company.

Glovo was founded in 2015 by Oscar Pierre and Sacha Michaud and is available in Barcelona, Madrid, Valencia, Zaragoza, Seville, Malaga, Palma de Mallorca, Bilbao, Rome, Milan and Paris. It claims 250,000 users and 3,000 partners.

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