Delivery Hero CEO Niklas Östberg. Photo credit: Delivery Hero

Delivery Hero has announced that it’s acquired InstaShop, a grocery delivery upstart operating in the Middle East and North African regions. Delivery Hero coughed up $270 million upfront for the startup, with an additional $90 million to be paid contingent on certain targets. InstaShop, which is based in Dubai, is being acquired five years after its founding. As a private company, it’s known to have raised under a million dollars in funding. Delivery Hero is apparently acquiring InstaShop to make a dent in the Middle Eastern and Nothern African regions. The acquisition notably follows the company’s $4 billion deal to acquire Woowa, the largest food delivery app in South Korea.

InstaShop currently operates in five countries; the United Arab Emirates, Qatar, Bahrain, Egypt and Lebanon. Altogether, the company has partnered with more than 1,500 grocery vendors to facilitate on-demand deliveries. Currently, InstaShop has more than 500,000 active users. “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,” InstaShop’s CEO, John Tsioris, said in a press statement.

InstaShop’s sale marks one of the biggest startup exits in the Middle East.