Jokr raises $50 million
The food delivery service wants to continue growing in the Brazilian market following its successful Series C round.
The Berlin-based food delivery service Jokr has completed its Series C financing round. The company received 50 million US dollars and is now valued at 1.3 billion US dollars. This is a slight increase compared to Series B, in which Jokr's enterprise value was 1.2 billion US dollars. The round was led by existing investor G Squared, with GGV Capital, Tiger Global Management and HV Capital also participating again.
Jokr struggled with the same problems as many of its competitors last year: The company lost money and had to pull out of some markets, including Boston, New York and Colombia. With the new capital, Jokr intends to continue to focus on the Brazilian market. The start-up conducts around 50 percent of its business in the South American country. "Business in Brazil is flourishing, growing steadily and becoming increasingly profitable," Jokr founder and CEO Ralf Wenzel told the news site Techcrunchwhich first reported on the funding round.
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