Cuatrecasas, L&W, C&L guide Glovo´s €450m financing round

Cuatrecasas, Latham & Watkins and Cases & Lacambra have advised investors on their participation in Glovo’s latest €450 million funding round

Latham & Watkins has advised Venture Capital funds Seaya, Cathay Innovation SAS and Drake, among other partners of Glovo, on their participation in Glovo’s Series F financing round, through which the multi-category delivery platform has raised €450 million.

On the other hand, Cuatrecasas has advised Delivery Hero, Luxor Capital Group and Lugard Road Capital (the latter two leading the round) on their participation in the financing round.

Drake Food Service International was advised by Cases & Lacambra.

The delivery platform’s Series F round, worth €450 million, is the largest ever by a Spanish tech company. This round was led by US alternative asset managers Lugard Road Capital and Luxor Capital Group and has also seen the participation of other investors such as Seaya, Cathay Innovation SAS, Delivery Hero, Drake Enterprises and GP Bullhound.

With this new capital injection, Glovo, which has a solid base of 10 million users and which announced earlier this year a €100 million investment by Swiss firm Stoneweg, will continue its expansion in the 20 markets in which it currently operates, boost its new quick commerce division and deepen the innovation of its multi-category offering, promoting the supermarket and retail categories and its partnership with retailers.

The Latham & Watkins´ team was led by Madrid office Commercial partner José Antonio Sánchez Dafos (pictured left), along with associates María del Pilar Villanueva and Marta Portuondo.

Cuatrecasas´ team was led by partners Diana Rivera (pictured centre) and Francisco J. Martínez Maroto (pictured right), and included associates Paula Martínez and Pedro López-Doriga.

Cases & Lacambra advised Drake Food Service International on certain Corporate Law and Corporate Governance matters, as well as on the Tax structuring of the investment. The team was led by partner Bojan Radovanovic (pictured left below) and included associate Marc Roig. The advice also included a Tax component, with a team led by partners Ernesto Lacambra (pictured right below) and David Navarro, and associate Miguel Mateo.



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