“This investment will enable us to further expand our footprint, improve operational efficiency, and continue delivering the fast, reliable service that our customers rely on,” Oliver Merkel, founder and managing director of Flink, said in a statement.

Flink did not disclose its valuation, but sources close to the company told TechCrunch that it is just under $1 billion. The company is undergoing some major recapitalising, considering that prior to this round, Flink had raised more than $1.5 billion, per PitchBook.