Glovo acquires Spanish and Portuguese companies

The Spanish courier / delivery service Glovo purchases two delivery companies: one in its home country, the other in Portugal.

As Bloomberg News reported on Tuesday, September 14, the company has reached a deal to buy Lola Market in Spain and Portuguese company Mercadao for undisclosed amounts. The two companies will retain their identity and operate independently of Glovo, Gonçalo Soares da Costa, CEO of Mercadao, leading the two companies. According to Bloomberg, the two companies will initially expand in Poland and Italy.

The purchases follow a $ 530 million Series F fundraiser led by Glovo earlier in the year. At the time, Glovo founder and CEO Oscar Pierre said the funding would be used to expand his “leadership position”.

Read more: Spanish messaging platform Glovo wins $ 530 million for Q-Commerce

The company has grown across Europe, recently purchasing Delivery Hero’s business in Bosnia-Herzegovina, Bulgaria, Montenegro, Romania and Serbia, as well as parts of Delivery Hero’s Croatian operations, for $ 207 million. of dollars.

See also: Glovo takes over the Balkan business of Delivery Hero for $ 207 million

The Bloomberg report notes that this industry has seen an increase in demand for fast delivery of grocery and restaurant products. Glovo expects the gross transaction value of its Q-commerce business to triple, crossing an execution rate of € 1 billion by the end of next year.

At the same time, the gig worker model that apps like Glovo rely on is facing increasing pressure from the government.

Read more: Dutch court rules Uber drivers as employees, fines Co 50,000 euros

On Monday, September 13, a Dutch court ruled that Uber drivers should be considered employees and not concert workers, and are therefore protected by local labor laws. The decision of the Amsterdam District Court concluded that the approximately 4,000 Uber drivers in that city are employees of a taxi company and are therefore entitled to the benefits corresponding to this industry.

As for Glovo, Bloomberg says he faces a change in law as Spain passed the first EU law that considers delivery people to be employees.



On: Eighty percent of consumers want to use non-traditional payment options like self-service, but only 35 percent were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a PYMNTS and Toshiba Collaboration, analyzes more than 2,500 responses to find out how merchants can address availability and perception issues to meet demand for self-service kiosks.

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