JOKR raises $260M Series B at $1.2 billion valuation


The round means the startup has achieved Unicorn status just 8 months after start of operations while generating best-in-class customer retention rates and strong organic growth.

The round, one of the largest Series B rounds in recent years, is backed by new and existing investors including Activant Capital, Balderton, Greycroft, GGV Capital, G-Squared, HV Capital, Kaszek, Mirae Asset, Monashees, Moving Capital, Tiger Global and others.Balderton first invested in JOKR’s Series A in July 2021. You can read Seb’s Medium post on why we invested hereJOKR is led by the experienced team that created the online food ordering and delivery service foodpanda and helped steer the success of Delivery Hero. Ralf Wenzel, CEO and Founder of JOKR as well as other co-founders, have also personally invested as part of this round. 

The JOKR app. The JOKR grocery and retail delivery platform is available in the App Store and on Google Play.

We are very proud of what we have built with JOKR, and today’s announcement is further proof of how we have managed to reshape an entire industry within just a few months. JOKR has arrived – not only at the doorstep but in peoples’ everyday lives. Our customers in Latin America and the U.S. love our instant delivery grocery offering, with GMV having grown by an average of 15% every week.

Ralf Wenzel Founder and CEO, JOKR

Since its launch in March 2021, JOKR has gained strong traction in Latin America and the U.S. The company will be using the fresh funds to further increase its focus exclusively on these high growth markets. JOKR plans to expand its operations to additional cities and neighbourhoods while continuing to invest in its superior technology and customer
proposition. The platform has already gained recognition from its customers for its versatile and localized inventory, which it continues to optimize according to its customer’s needs, resulting in strongly growing basket sizes.JOKR’s retention rates are amongst the highest in the industry, with more than 50% of new customers generated organically and an accelerating order frequency of active customers. Its proprietary algorithm to analyse order data allows JOKR to stock products based on the preferences of its local users, ensuring immediate product availability while reducing waste. 

Today’s investment will enable us to continue delivering on our promise to create the ultimate shopping proposition. We are grateful for the trust that our amazing investors continue to put in us as we focus all our energy on making the shopping experience smarter, faster and more sustainable.

Ralf Wenzel Founder and CEO, JOKR