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Delivery company Glovo gets Sh16bn in expansion plan

National Transport and Safety Authority Deputy Director for Safety Enforcement Badu Katelo (left), Glovo Kenya General Manager William Benthall and a rider at the launch of a road safety partnership in Nairobi in October. FILE PHOTO | NMG

By  OTIATO GUGUYU

Spanish delivery firm Glovo has raised an additional €150 million (Sh16.7 billion) as it seeks to scale up its business in Africa, Europe and Latin America.

The company said the new funding from Abu Dhabi state investor Mubadala and institutional investors Drake Enterprises, Idinvest and Lakestar has pushed its valuation to Sh100 billion.

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