🏆 Deal of the Week · CW 37/2021
Picnic raised EUR 600 million in a Series D round; the post-money valuation was not disclosed. The round was led by the Bill & Melinda Gates Foundation. This financing ranks among the largest e-commerce funding events in the Netherlands and was recognised as Deal of the Week for KW 37/2021.
PicnicBill & Melinda Gates Foundation — key deal facts
| Company | PicnicBill & Melinda Gates Foundation |
| Founded | 2015 |
| Headquarters | Amersfoort, Netherlands |
| Amount raised | EUR 600M |
| Valuation | Valuation Remains Undisclosed |
| Round | Series D |
| Investors | Bill & Melinda Gates Foundation (http://www.gatesfoundation.org) |
| Sectors | e-commerce |
Who invested in PicnicBill & Melinda Gates Foundation?
The Bill & Melinda Gates Foundation anchored the Series D. The participation of a major philanthropic institution with a strong focus on sustainable food systems and global development underscores the strategic dimension of this investment beyond a purely financial rationale.
What does PicnicBill & Melinda Gates Foundation do?
Picnic is a Dutch online grocery retailer founded in 2015 and headquartered in Amersfoort, the Netherlands. The company operates a mobile app-based grocery delivery service that uses a fixed-route model rather than on-demand logistics, enabling it to offer competitive pricing aimed at the mass market. Picnic delivers fresh groceries to customers' doorsteps and has expanded its operations across the Netherlands, Germany, and France. Its fleet relies on electric vehicles, reflecting a deliberate focus on low-emission last-mile delivery.
PicnicBill & Melinda Gates Foundation valuation & multiples
No existing multiples analysis was provided for this deal. For context on how comparable e-commerce businesses are valued, readers can explore Venionaire DealMatrix's dedicated sector multiples pages covering EV/Sales and EV/EBITDA benchmarks for online retail and grocery delivery verticals.
Explore the benchmarks: Series D e-commerce.
Frequently asked questions
How much did Picnic raise in its Series D?
Picnic raised EUR 600 million in its Series D round, recognised in KW 37/2021.
What is Picnic's valuation?
Picnic's post-money valuation following the Series D round has not been publicly disclosed.
Who invested in Picnic's Series D?
The Bill & Melinda Gates Foundation invested in Picnic's Series D round.
When was Picnic founded and where is it based?
Picnic was founded in 2015 and is headquartered in Amersfoort, the Netherlands.
Source: original announcement — read the full report.