Participated · Equity · Nov 2025

Founded in the Netherlands in 2015, Picnic operates an online grocery service that fulfills orders from local distribution hubs and delivers them with a fleet of small electric vans. The company entered Germany in 2018 and France in 2021, and now claims a two-million-customer base spread across 200 locations. Picnic positions itself as the market leader for online groceries in Germany and emphasizes the tight integration of proprietary software with its logistics operations. The firm’s current strategy is to channel fresh capital into accelerating German growth and launching in additional, as-yet-unnamed European markets. Picnic’s asset-light warehouses and electric vehicles are central to its cost efficiency and sustainability narrative. While specific revenue figures are not disclosed, the company’s scale and repeat backing from strategic investors underline investor confidence. Previous financing includes a €600 million Series D in 2022 and a €355 million round in 2023, illustrating a capital-intensive but rapidly expanding business model.