Gorillas apparently plans financing round

However, the struggling grocery delivery service will have to accept a lower valuation to do so, according to a media report.

250 million euros is apparently what the food delivery service Gorillas wants to collect. This is reported by the U.S. edition of Business Insider. Gorillas is probably relying on its existing investors for this, but will also have to live with a lower valuation in the course of the financing round.

The delivery service, which aims to bring groceries to your doorstep within ten minutes, is currently struggling. It was only in May that it became known that the start-up would have to lay off massive numbers of administrative workers. Already on that occasion, founder Kagan Sümer announced that he wanted to take further steps "to walk the path to profitability."

According to media reports, the founder also toyed with the idea of selling his start-up. Gorillas had apparently talked to experts at U.S. bank J.P. Morgan about this. According to Business Insider, however, this cooperation has ended. As recently as February, Sümer sounded much more optimistic. At that time, he announced that he wanted to raise 700 million euros in order to become profitable.