Spanish delivery app Glovo gets US$121mil for ‘dark stores’

A delivery courier for Glovo checks his phone on the street in Milan, Italy. The closely held company started operating dark-supermarkets in late 2019 to diversify away from restaurant deliveries. — Bloomberg

Spanish food delivery startup Glovo has struck a deal with Swiss real estate firm Stoneweg SA to invest €100mil (RM490.69mil) to expand its network of convenience stores.

Stoneweg will build and refurbish real estate for the “dark stores”, which are delivery-only convenience markets, in countries where Glovo is already operating, such as Spain, Italy, Portugal and Romania, Glovo said in a statement on Jan 19.