Picnic Raises 100 Million Euro to Expand its Online Food Delivery in Holland
March 28, 2017
Online grocery retailer Picnic, raises 100 million euro from NPM Capital, Fentener van Vlissingen and other Dutch investors, to expand its food retail concept in The Netherlands. The investors get a significant minority share in the company.
Picnic, with revenues of around 20 million euro in 2016, started in the province of Utrecht, and has expanded to other towns in the center of The Netherlands such as Almere. It is expanding to other towns in the province of South-Holland.
With the financial injection, Picnic will accelerate its geographic coverage in The Netherlands as soon as possible. It’s major competitors are Albert.nl of market leader Ahold Delhaize, and Jumbo Online.
Picnic is founded by serial entrepreneur Michiel Muller, internet entrepreneurs Joris Beckers and Frederik Nieuwenhuys, and food retailer Bas Verheijen.