Monday, 28 September 2015
Europe's Rocket Internet venture HelloFresh raises further funds
Rocket Internet SE announces a EUR 75 million funding round for HelloFresh GmbH valuing the Company at EUR 2.6 billion, an increase in the valuation from the last funding round in March 2015 of almost EUR 2 billion. HelloFresh is the largest fresh meals at home delivery service globally, offering households in 7 different countries the opportunity to enjoy healthy, wholesome home cooked meals with no planning, no shopping and no waste. With net revenues of EUR 70 million in 2014, HelloFresh has grown 392% vs 2013 and has continued a similar growth trajectory through the first quarter of 2015, making it one of the fastest growing players globally in the online food sector. The company is now delivering over 4 million meals per month to households all around the world. The additional funding will be used to expand HelloFresh’s leadership position.
The financing round was subscribed by investment manager Baillie Gifford and results in a new post money valuation of HelloFresh of EUR 2.6 billion. Post this funding round, Rocket’s ownership amounts to 57.2% corresponding to a last portfolio value (“LPV”) of EUR 1.5 billion. This represents a significant LPV uplift of EUR 1.1 billion since the last funding round in March 2015. This transaction is testament to HelloFresh’s continued very strong growth and future potential.