Friday 27 November 2020

Online supermarket Picnic gets €100m capital injection

Photo: Picnic

Online supermarket company Picnic has received a €100m capital injection from four large investment funds, the Financieele Dagblad said on Tuesday.

Picnic offers free delivery and has ambitious expansion plans which will require a total of €300m in new investment. The company started up two years ago in Amersfoort. It is the brainchild of four young investors including serial start-up businessman Michiel Muller who earlier set up the unstaffed petrol stations chain Tango.

Picnic’s deliveries are made by ‘runners’ driving small electric delivery vans which have set routes in each area of a town it serves. Picnic eventually will have 2,000 such vans in service as it expands.

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