The delivery application Glovo will invest EUR 80 mln in Romania this year, Sacha Michaud, co-founder of Glovo, said in a press conference, Economica.net reported. The local market is the third most important of the 25 where the Spanish company operates, he explained

"We are investing a lot in Romania; we will invest over EUR 80 mln in the team, marketing, and operations this year. The Romanian team is amazing and one of the best we have in the group. In fact, Romania is the third market for us out of the 25 in which we operate, after Spain and Italy. Bucharest is the top 3 global cities in terms of the number of transactions," Michaud said.

The application has been active in Romania since 2018. It currently has over 250 employees and 10,000 partners. It has already been downloaded by over 5 million users, making it one of the most downloaded applications nationwide.

Glovo's plans in Romania include expanding by the end of the year to about 30 other cities to be active in about 80-90 localities.

The company targets cities with over 10,000 inhabitants, with the ultimate goal of having as customers over 50% of Romania's active population.

Last month, the platform Just Eat Takeaway.com announced that it would discontinue operations in Romania starting June 1, invoking "competitive pressures." 

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andrei@romania-insider.com