HappyFresh

The platform does not own physical stores but partners with established supermarkets and specialty retailers, allowing customers to order from a wide selection of items via a mobile app or website. Revenue is generated through multiple streams, including delivery fees from customers, commissions from partner stores for listings and promotional services, and targeted advertising on the platform. HappyFresh's business model relies on a network of trained part-time personal shoppers who handpick items in-store to fulfill customer orders. These orders are then delivered by a fleet of professional couriers, with the service initially promising delivery within the next hour. This asset-light approach, similar to Instacart's, allowed for rapid scaling.

Headquartered in Jakarta, Indonesia, HappyFresh quickly expanded its operations. Following its initial launch, it raised $12 million in a Series A funding round in September 2015 to fuel growth into Malaysia and Thailand. Over its lifetime, the company secured approximately $97 million over eight funding rounds from investors such as Grab, Vertex Ventures, and Samena Capital. Its largest round was a $65 million Series D in 2021. At its peak, the company operated in Indonesia, Malaysia, and Thailand. However, facing economic pressures and mounting debt, HappyFresh ceased operations in Malaysia and Thailand in September 2022 to restructure and focus solely on the Indonesian market.