Finance

Online supermarket Picnic raises 600 million, Bill Gates steps in

Picnic announced this today. The company was founded in 2015 by three Dutch entrepreneurs, and since then has managed to raise large amounts of money from investors. Shareholders include the wealthy Dutch families Fentener van Vlissingen (SHV) and De Rijcke (Kruidvat).

Growing in Europe

The online supermarket, which delivers groceries at home with electric trucks, wants to invest the fresh capital in growth in Europe. The company says it wants to expand, especially in Germany and France.

Picnic started providing services to our eastern neighbors in 2018. At the time, the German supermarket group Edeka also stepped in as a shareholder. The online supermarket has also been active in France since this spring.

Picnic recorded a loss of 44 million euros in 2019, and has not yet announced any results for 2020.

Bill Gates

The latest capital injection is led by the Bill & Melinda Gates Foundation Trust. That is the asset manager of the charitable foundation of Microsoft founder Bill Gates and his ex-wife. The foundation uses the proceeds of its investments for health projects and poverty alleviation, among other things.

Co-founder Joris Beckers says in a statement that he is ‘extremely proud to be working with the Bill & Melinda Gates Foundation’. Picnic says it has a turnover of 1 billion euros, based on the expected turnover in the last month of 2021.

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