Arive apparently raises $20 million

The start-up delivers high-quality goods such as electronics, cosmetics and even electric bicycles within 30 minutes.

The Munich-based start-up Arive has raised 20 million US dollars as part of a Series A financing round, according to Techcrunch reports. London-based venture capital firm Balderton Capital is leading the round. Other investors are Global Founders Capital, Burda Principal Investments, La Famiglia and 468 Capital. La Famiglia and 468 Capital are existing investors: they have already invested as part of the company's seed round.

Arive only started four months ago - and is currently active in just four German cities: Berlin, Hamburg, Munich and Frankfurt. However, the start-up would now like to use the capital to expand throughout the country and consider which additional markets it could target.

The company delivers goods within around 30 minutes, similar to food delivery services. One major difference, however, is that this is not about supermarket goods, but primarily about high-quality products, some of which are in the luxury segment. For example, electrical products from Apple, Bose and others are offered, as well as expensive sportswear and cosmetics. Customers can even order electric bicycles or furniture via Arive.

One reason for the high level of investment is probably the start-up's good figures: The average order size is said to be between 50 and 100 euros. In addition, the average shopping cart is said to contain between one and four items. This shows that Arive customers apparently order mainly high-priced products.