GORILLAS

That ’ s because it ’ s Europe ’ s fastest-growing unicorn , from startup to unicorn in just 10 months . How did that happen ? Well , it ’ s a speedy grocery delivery company launched during the pandemic , and so has attracted decent investment , and fast . How decent ? Following a seed round just a few months into launch ( May 2020 ) which secured € 1.2m , Gorillas raised a phenomenal US $ 53.1m in Series A funding seven months later ( December ) and then 10 months on , in March 2021 , a further US $ 290m in Series B funding , leading to a US $ 1bn valuation and unicorn status . Both A and B rounds were led by hedge fund Coatue , with Tencent getting in on the action in Series B . Aren ’ t there lots of these grocery startups out there ? There are , but Gorillas is a bit different . Firstly , it started in Germany , Berlin , where the space hadn ’ t yet been cornered , though Gorillas has now expanded to 12 cities Europe-wide . Secondly , it taps into the fact that people ’ s lives are increasingly spontaneous , and no longer limited to a weekly grocery run . Clever , right ?! Oh , and it ’ s super-fast , guaranteeing delivery by riders in just 10 minutes . I hope they ’ re paying their riders the going rate ?! Gorillas is a bit different to gig economy models like Deliveroo as they pay riders directly . But , in light of recent criticisms laid against Deliveroo , Gorillas announced it would reward its rider crew and warehouse staff with US $ 1m in bonuses .

� MONZO ON MENTAL HEALTH Digital bank Monzo becomes just one of two UK organisations to recognise the emotional impact of miscarriage , introducing a policy that allows employees two weeks ’ paid leave following a pregnancy loss .

� HSBC PROFITS UP HSBC has reported US $ 5.8bn in first-quarter profits , a nearly 80 % jump , with the bank releasing US $ 435m of the US $ 8.8bn it put aside to cover bad debts during 2020 .

� GOOGLE FINED IN ITALY Italy ’ s antitrust authority slapped a US $ 124.86m fine on Google for the competition law charge of ‘ abuse of dominant position ’, specifically for Google refusing to allow Enel X Italia to develop a version of its JuicePass app compatible with Android Auto .

� KPMG LEADERSHIP The first woman to lead a Big Four accountant in the UK , KPMG ’ s Mary O ’ Connor has exited the consulting firm after being passed over for appointment as the company ’ s permanent CEO .

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