• 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

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.