- Investment led by the European Bank for Reconstruction and Development (EBRD), Sofina, Index Ventures, Quadrille, and TCF Capital, complemented by growth capital funding from the European Investment Bank (EIB) under its Scale-Up Initiative
- European leader in food retail technology and online grocery plans expansion to multiple new cities across the CEE and DACH by 2030
- Milestone investment follows period of rapid post-COVID growth and reaching profitability in key markets
Prague, 28th June 2024 – Rohlik Group (“Rohlik”), a European food retail technology and online grocery leader, today announces it has successfully raised $170m (€160m) in fresh growth capital. The investment was led by the European Bank for Reconstruction and Development (EBRD), alongside existing investors Sofina, Index Ventures, Quadrille, and TCF Capital and complemented by growth capital funding from the European Investment Bank (EIB) under its Scale-Up Initiative.
The investment will be used to fuel Rohlik’s ambitious expansion plans in DACH and CEE, where the company aims to establish its presence in more than 10 additional cities by 2030.
Combining rapid growth and profitability
Founded to meet the growing demand for online grocery services that offer superior quality and better customer experience, Rohlik has achieved rapid and sustainable growth across the DACH and CEE regions. The company now delivers over a million orders per month, and served over 800,000 customers in 2023. It has now reached profitability in Munich, having already done so in the Czech Republic and Hungary, validating its economic model in Germany and proving its ability to scale efficiently and sustainably. In October 2023, Rohlik acquired Bringmeister, further strengthening its footprint in Germany.
Despite the challenging macroeconomic environment and a period of turbulence in the industry, Rohlik has grown by 40% post-COVID. Rohlik’s ability to drive sustained growth and achieve profitability in key markets is a testament to its robust performance and compelling value proposition. The company’s success is driven by a best-in-class local assortment of goods, which ranges from fresh food from local farmers and artisans to supermarket goods, pharmacy items and private label brands, alongside competitive prices, high levels of customer service and fast, reliable delivery, powered by an innovative proprietary technology infrastructure.
Driving efficiency through automation
Rohlik operates fully automated fulfillment centers, leveraging a host of AI, ML and robotics technologies to drive efficiency and high productivity without compromising on quality. These technologies are implemented across the business to provide customers with high-quality service at every step of the journey. Rohlik offers highly reliable 15-minute delivery windows and same-day deliveries available as soon as 1 hour after booking. Ninety-seven percent of Rohlik’s deliveries are on time.
Growth potential
Rohlik’s TAM (Total Addressable Market) and growth potential is significant: McKinsey estimates that as many as 30% of grocery sales could be online by 2030 in leading countries. The planned expansion into more than 10 additional DACH and CEE cities will significantly boost Rohlik’s customer base, in line with the company’s long-term vision of becoming the leading online grocery delivery service not just in CEE but across Europe. With a healthy mix of more mature profitable cities and earlier stage fast-growing cities, Rohlik has a clear direction of travel towards an initial public offering (IPO) in the coming years.
By combining its advanced technology with a customer-centric approach, Rohlik has created a business model that is both efficient and replicable. This has helped the company near break-even in all its existing markets - meaning the new funds can be used purely for growth and market penetration rather than operational needs. Rohlik is currently targeting revenues of over €1 billion with positive cash flow for the 2024 financial year.
Tomáš Čupr, founder and CEO of Rohlik Group, said:
“There is huge demand across Europe for online groceries delivered quickly and reliably without any compromise on quality. We don’t see that as a short-term phenomenon, but as a long-term opportunity around which to build a market-leading proposition.
“At Rohlik, we have built the technology to deliver on that promise in a sustainable and profitable way, leveraging AI, ML and robotics technology with our obsession with customer service to drive maximum efficiency and high productivity. This funding will allow us to accelerate our growth, opening facilities in more than 10 new cities, and set
the standard in online grocery delivery across Europe.”
Tamas Nagy, Director, Co-head of Equity Investments at the European Bank for Reconstruction and Development (EBRD), said:
“We first partnered with Rohlik three years ago and have been continuously impressed by the management team’s execution and investment into proprietary technology, automation and increasing use of artificial intelligence across its operations. We are very proud to support Rohlik’s growth and expansion plans in the years to come.”
Kyriacos Kakouris, Vice-President at the European Investment Bank (EIB), added:
"This financing marks the first operation under the EIB Scale-up Initiative, designed to support more mature growth companies like Rohlik. It underscores our commitment to fostering innovation and digitalization across Europe, particularly in sectors crucial to the competitiveness of our economy.”
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About Rohlik Group
Founded in 2014 in the Czech Republic, Rohlik Group has built the definitive industry model for online grocery, and is fast becoming Europe’s food retail technology leader. With best-in-class assortment, fast and reliable delivery, and powered by cutting-edge technology and automation at every step of the journey, Rohlik redefines the customer experience and offers superior quality, efficiency and sustainability compared to quick commerce and traditional grocery models.
Rohlik offers one of the broadest and most differentiated assortments available in the online grocery space (17,000 SKUs), ranging from fresh food from local farmers and artisans to supermarket goods and private label brands, and offers highly reliable 15-minute delivery windows and same-day deliveries available as soon as 1 hour after booking. Ninety-seven percent of Rohlik’s deliveries are on time.
Rohlik is active in the Czech Republic (Rohlik.cz), Hungary (Kifli.hu), Austria (Gurkerl.at), Germany (Knuspr.de) and Romania (Sezamo.ro), and is growing rapidly.
About the European Bank for Reconstruction and Development (EBRD)
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents. The Bank is owned by 73 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, well governed, green, inclusive, resilient and integrated.
About the European Investment Bank (EIB)
The EIB is the long-term lending institution of the European Union. It finances sound investment contributing to EU policy goals and works closely with other EU institutions to advance shared policy priorities, like equitable growth and a just transition to climate neutrality. In 2023 alone, the EIB Group provided €1.88 billion for Czech projects.