Investor cash injection

Gurkerl parent company raises $170 million for expansion

(Bild: gurkerl.at)

The Czech Rohlik Group, parent company of the Austrian online supermarket gurkerl.at, is receiving a capital injection of 170 million dollars (159 million euros). This will be used to expand into 15 additional cities.

The money comes from existing and new investors and is intended to drive the company's expansion in the DACH region (Germany, Austria, Switzerland) as well as in Central and Eastern Europe, as the company announced in a press release on Friday. The company aims to be represented in 15 additional cities by 2030.

Expansion plans still vague
Founded in 2014, the Rohlik Group is currently active in the Czech Republic, Hungary, Germany, Romania and Austria (Vienna and the surrounding area). No details were given in the press release as to which cities it plans to expand into. A Gurkerl spokesperson did not wish to comment on whether further cities in Austria could also be added.

The investment round is being led by the European Bank for Reconstruction and Development (EBRD), together with existing investors such as Sofina and Index Ventures. The European Investment Bank (EIB) is also participating in the round with growth financing.

Customer base to be expanded
The aim is to use the money to significantly expand the customer base and continue to grow in Europe. "There is a huge demand in Europe for high-quality food delivered quickly and reliably. We don't see this as a short-term phenomenon, but as a long-term opportunity on which we can build a leading offering," says Rohlik CEO Tomáš Čupr. The company also plans to go public in the coming years.

In 2023, the Group recorded an increase in turnover of around a quarter to 700 million euros and is profitable in the Czech Republic, Hungary and, since the end of last year, Munich. According to the company register ("Wirtschafts-Compass"), gurkerl.at's turnover in the 2021/22 financial year amounted to 45 million euros and the loss to 30.3 million euros; in 2022/23, revenue was 58.5 million euros and the loss 31.6 million euros according to the preliminary annual financial statements.