The fierce competition is putting the providers under pressure.
(Photo: Getty Images, Imago, Visa)
Dusseldorf The delivery start-ups that have recently been hotly traded among investors are already threatened with a crash again. Last year, courier services such as Flink and Gorillas reached billions in valuations at record speed. But now the first lenders are correcting their return expectations downwards. This emerges from the internal documents of the investors, which are available to the Handelsblatt.
According to this, at least two large European delivery services, Glovo and Zapp, were already given significantly lower ratings in investor books at the end of the first quarter than they were in the most recent financing round. In one case, the investment was devalued by 60 percent compared to an earlier valuation.
Critical questions also arise at the Berlin company Gorillas. The credit agency Creditreform advises against credit transactions with “Gorillas Operations Germany BV & Co. KG”. When asked, Gorillas itself admits that there were “backlogs of payments to some business partners”.
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