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Nuremberg/Berlin/Amsterdam, 9 March 2021: Rödl & Partner advised international investment firm Target Global on their investment in Crisp, the fastest growing Dutch online supermarket. Target Global led the €30M Series B financing round for Crisp.nl and was joined by Keen Venture Partners and some of Europe’s top entrepreneurs, including founders of Adyen and Just Eat Takeaway.com, as well as Thomas Plantenga, Vinted CEO.
Crisp intends to use the new funding to enlarge its 100% electric vehicle fleet, substantially expand its assortment, and strengthen its network with high-quality, smaller producers for its fast-growing customer base.
During the investment, Target Global was assisted by an international transaction team of Rödl & Partner under the responsibility of Partner Cyril Prengel. Maximilian Egger led the financial due diligence of Crisp B.V.
“The Rödl & Partner team is highly professional, knowledgeable and fast and has been a great partner to us in this process”, says Bao-Y Van Cong, Investment Director at Target Global. The investment was completed in February 2021.
Crisp is one of Europe’s fastest growing online-only supermarket apps for fresh and affordable food, providing transparency across the supply chain to customers and producers. The service delivers groceries seven days a week nationwide in the Netherlands. Customers ordering before 10 p.m. will receive their purchase the next day within a one-hour timeslot. The product range includes items from over 650 farmers, growers, and manufacturers. Crisp was founded in 2018 by serial tech entrepreneurs Tom Peeters, Michiel Roodenburg and Eric Klaassen, who all shared a vision to make fresh food available to more people. It was one of the most highly acclaimed brands of 2020 in the Netherlands, receiving awards such as the Esprix, ADCN, SPIN and DIA. Crisp was named one of the "Coolest Dutch Brands" in 2021, and has been selected to participate in the Techleap Rise program. The company is backed by some of Europe’s leading investors, including Target Global and Keen Venture Partners, and some of the continent’s most renowned entrepreneurs, including founders of Adyen and Just Eat Takeaway.com.
Target Global is an international investment firm headquartered in Berlin, with more than €1.3bn in assets under management. With offices in London, Tel Aviv and Barcelona, the firm connects the key European startup ecosystems, leveraging the unique DNA of each target geography across a global network. Building on an experienced team with substantial operational and investment experience, Target Global helps exceptional entrepreneurs become market leaders. Target Global invests across multiple stages, backing fast-growing tech companies and targeting trillion € markets. The firm’s Partners have been investing in the digital technology space for more than 15 years, backing some of Europe’s major success stories. The Target Global portfolio includes companies like Auto1, Delivery Hero, Reef, Choco, Rapyd, TravelPerk, WeFox and Zego.
Cyril Prengel, Partner (Transactions Valuation Restructuring), Nuremberg, project lead – FinancialAlexander Hennevogel, Associate (Transactions Valuation Restructuring), Nuremberg – Financial
Maximilian Egger (Transaction Services), Paris – FinancialValeriia Iezhova, Senior Associate (Transaction Services), Paris – Financial
Cyril Prengel
Partner
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