Saturday, 16 August 2014

foodpanda group raises another $60 Million, aiming leadership in emerging markets

Global food delivery marketplace to strengthen and expand position in existing countries

Berlin, August 11th 2014: foodpanda, together with its affiliated brands hellofood and Delivery Club, today announced another financing round of $60 Million from a group of investors, including various existing investors, Falcon Edge Capital and Rocket Internet AG. Since its launch in 2012, foodpanda/hellofood has raised over $100 Million. Recently, the company acquired competitor Delivery Club, making it the leading food delivery marketplace in Russia.

Ralf Wenzel, Global Managing Director foodpanda/hellofood: “We are very pleased by the sign of confidence and the acknowledgment of our current success. The new funding will be invested in continuous growth in our existing markets, by partnering with even more restaurants in more cities and further improving customer service. We want to establish ourselves as the market-leading food delivery marketplace, creating the most convenient way to order food – wherever you are.”

The marketplace helps restaurants to increase delivery sales through online and mobile platforms, and provides them with constantly evolving technology and analytics. Customers can choose their favorite meal online, and foodpanda sends the order directly to the restaurant, which delivers the meal to the customer. The company has recently launched its next generation mobile application available on major platforms.

In 2013, foodpanda secured more than $20 Million funding from Phenomen Ventures and Investment AB Kinnevik, and $8 million from iMENA Holdings. Another $20 Million from a group of investors, including Phenomen Ventures, was collected in February 2014.