Gorilla, Zap, Glovo & Co.: Delivery start-ups face crash risk

Gorilla, Zap, Glovo & Co.: Delivery start-ups face crash risk
liferendo driver

The company now not only delivers restaurant food in Berlin, but groceries as well.

(Photo: Picture Alliance/Phototake)

Düsseldorf The delivery start-ups that have been hotly traded among investors lately are already threatening to crash again. Last year, courier services like Flink and Gorilla reached billions in valuations at a record pace. But now first lenders are correcting their return expectations downwards. This follows from the investors’ internal documents, which are available to Handelsblatt.

According to it, at least two of the large European delivery services, Glovo and Zap, were rated significantly lower in investor books at the end of the first quarter than in the most recent financing round. In one case, the investment was devalued by 60 percent compared to the earlier valuation.

Serious questions also arise on the Berlin-based company Gorilla. The credit agency Creditreform advises against credit transactions with “Gorilla Operations Germany BV & Co. KG”. When asked, Gorillas himself admitted that there was a “backlog of payments to some business partners”.

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