Jokr Valued at $800 Million Post-Money in Latest Funding Round

Berlin-based rapid-delivery company Jokr has reportedly secured $50 million in Series D funding to enhance its online grocery delivery services in Latin America.

The funding round, led by Convivialité Ventures, valued the company at $800 million post-money, FinSMEs reported Sunday (Sept. 24). Lombard Odier and existing investors G Squared, GGV, Balderton Capital, Monashees, Greycroft and Tiger Global also participated in the round.

Jokr did not immediately reply to PYMNTS’ request for comment.

The company, which was founded and is led by CEO Ralf Wenzel, operates as a platform for instant grocery and retail delivery on a hyper-local scale, according to the report. The company specializes in delivering a wide range of products, including supermarket and convenience items, pharmaceuticals and exclusive local products. Jokr’s focus is on providing quick and convenient access to essential items, with a particular emphasis on groceries.

With the latest funding, Jokr plans to expand its operations and business reach, the report said.

It was reported in March 2022 that Jokr was valued at $1.2 billion in a Series B funding round that raised $260 million.

The rapid-delivery company said last June that it was ceasing operations in New York and Boston and refocusing on the Latin American market. The company also ended its delivery service in Europe previously, while continuing to do business in Brazil, Chile, Colombia, Mexico and Peru.

“We have decided to stop our business activities in the U.S. for now, which have lately only accounted for about 5% of our business,” Wenzel said last June. “Latin America is particularly underpenetrated and underserved, that’s why Jokr has has put its focus and emphasis on the Latin American opportunity since the beginning.”

PYMNTS Intelligence has found that Latin America’s eCommerce market is expanding rapidly, especially after the pandemic radically altered consumers’ shopping habits. Brick-and-mortar shopping was previously the name of the game, but eCommerce shopping skyrocketed when social distancing became the norm, according to “Harnessing the $382B Latin American eCommerce Market,” a PYMNTS and Worldline collaboration.

Karen Bruck, vice president of commerce and strategic initiatives at eCommerce platform Mercado Libre, told PYMNTS in the report that eCommerce penetration in the region doubled in Latin America during the pandemic, “but the biggest difference from other regions is that it never stopped growing.”