InstaShop announced that it has been acquired by Delivery Hero. The company said that this transaction marks the next step in Delivery Hero’s quest to pioneer q-commerce - the next generation of e-commerce - by joining forces with one of the largest online grocery platforms in the Middle East and North Africa.

John Tsioris, CEO & Founder of InstaShop, said: “The partnership with Delivery Hero is a great opportunity for us to continue to grow our business and put the group’s expertise to use. I really enjoyed working with Delivery Hero on this deal and am thrilled to continue to further expand the reach and quality of our service at InstaShop. Delivery Hero is a network driven by ambitious founders and entrepreneurs just like ourselves, and we are proud to become part of this family.”

As a leading grocery delivery marketplace in the Middle East and North Africa, InstaShop offers scheduled as well as on-demand deliveries in 45 minutes on average. Partnering with approximately 1,500 vendors, the company operates in five countries: the United Arab Emirates, Qatar, Bahrain, Egypt and Lebanon.

Instashop was backed over the years by Jabbar Internet Group, one of the leading tech investors in the region, and VentureFriends, a European early stage investor from Greece. The exit marks a record for the Greek tech ecosystem as well as a major exit for the MENA region and is expected to further support the growth of entrepreneurial tech activity in both regions.

Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: “I’m delighted to welcome InstaShop to the Delivery Hero family. The InstaShop team embodies our values and brings a strong vision and capabilities. As a leading player in the grocery segment, InstaShop has built a service customers love, and their expertise is a great addition to our quick commerce expansion. Together, we will continue to invest to drive the future of delivery by pushing the standards for speed and convenience.”

InstaShop will continue to operate as an independent brand under the current leadership and is a complementary fit next to Delivery Hero’s current quick commerce strategy in the region, leveraging synergies. InstaShop’s business model has proven to be rapidly scalable and economically successful. While InstaShop’s immediate focus lies on driving growth within its current geographies, joining Delivery Hero also opens up future complementary opportunities of expanding its footprint globally.

Source- Press Release