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Glovo Delivery Startup Is Said to Plan Pre-IPO Fundraising

  • Startup weighing a listing in the next 18 months: sources
  • Company said to be valued at up to 650 million euros

Spanish delivery start-up Glovo is planning to raise 100 million euros ($113 million) in its second funding round in less than a year ahead of a potential initial public offering, people familiar with the plans said.

Barcelona-based Glovo is meeting investors as it seeks funds and is weighing a listing in the next 18 months, according to the people, who asked not to be identified because the discussions aren’t public. The company is valued at up to 650 million euros going into this fundraising round, the people said. Glovo raised 115 million euros in July. No final decisions have been made and Glovo may decide against going ahead with the plans, they said.