- Clipperton acted as exclusive sell-side financial advisor to Cajoo, the French Q-Commerce pioneer, on its sale to Flink, the Berlin-based Q-Commerce unicorn (backed by DoorDash, Prosus, Mubadala, and Target Global).
- The acquisition of Cajoo will help Flink boost its national expansion, assortment and customer base in the key French market and further consolidate its leading position in Europe.
Our Client
- Launched only 14 months ago by Henri Capoul, Guillaume Luscan, and Jérémy Gotteland, Cajoo pioneered the Q-Commerce boom in France.
- Cajoo is transforming everyday groceries with a full-stack model, offering a wide & highly-curated range of products delivered at home within 15-min click to door.
- Cajoo has built robust tech assets internally to operate, monitor, and scale the business at a rapid pace. The company quickly secured a leadership position in France despite the longstanding presence of heavily financed competitors.
- In August 2021, Cajoo tied a partnership with global retailer Carrefour which has provided a solid & unfair advantage to streamline operations and scale across the country.
Cajoo x Flink: Deal Rationale
- Cajoo and Flink share the common mission of modernizing everyday shopping, dramatically improving the customer experience with a playful, comprehensive, and efficient digital offer.
- France being a highly coveted market opportunity for Q-Commerce players, the acquisition of Cajoo will help Flink build a robust position in the country.
- This strategic alliance will unlock strong growth prospects for Flink, leveraging Cajoo’s proprietary assets, including a robust tech platform, an extended customer base, and the highly strategic partnership with Carrefour.
- Carrefour, early investor and exclusive retail partner of Cajoo, will become the exclusive partner for the French market for Flink and a direct shareholder in the company.
Clipperton’s Digital Food & Grocery Expertise
- This transaction confirms the longstanding expertise of Clipperton in the broad digital food & grocery segment.
- Back in 2020 and before the emergence of European Q-Commerce players, Clipperton wrote an extensive piece of research on the digitization of grocery shopping in Europe. Click here to download this whitepaper.
Clipperton’s German cross-border track record
- This deal marks the 7th transaction in Germany since 2021 with international counterparts advised by Clipperton. It is a further testament to Clipperton’s growing leadership position on the German tech scene with two offices in Germany (Berlin and Munich).
Deal Team
- Nicolas von Bülow, Managing Partner
- Thibaut Revel, Managing Partner
- Martin Vielle, Executive Director
- Ghislain de Buchet, Associate
- Ismail Roqaichaoui, Analyst
About Clipperton
Clipperton is a leading investment bank dedicated to technology and growth companies. We provide strategic and financial advisory to entrepreneurs, corporates, and top-tier investors in Europe willing to execute transactions such as strategic M&A, private equity transactions, and private placements. Founded in 2003 and with offices in Paris, Berlin, Munich, London, New York, and Beijing, Clipperton has completed over 350 M&A and private placement transactions with fast-growing technology start-ups, blue-chip corporates, and renowned financial investors.