foodpanda joins the $100 million funding club, raises $60 million fresh funding
Monday August 11, 2014,
3 min Read
Global food delivery marketplace, foodpanda, along with its affiliated brands hellofood and Delivery Club, has announced a financing round of $60 Million. The group of investors, includes most of the existing investors, Falcon Edge Capital and Rocket Internet AG. Since its launch in 2012, foodpanda/hellofood has raised over $100 Million. The company will use the funds to strengthen and expand position in existing countries.
foodpanda and its affiliated brands are active in more than 40 countries on five continents. The company enables restaurants to become visible in the online and mobile world and provides them with a constantly evolving online technology. For consumers, foodpanda/hellofood offer the convenience to order food online or via the app. Recently, the company acquired competitor Delivery Club, making it the leading food delivery marketplace in Russia.
Related read: foodpanda's expansion plan
Mr.Rohit Chadda, MD and Co-Founder, foodpanda.in said, “The fresh round of capital investment is a testament of investor confidence and an acknowledgement of our successful business model. We plan to use these funds to further consolidate our position as the market leader and continue our growth in the existing markets while further improving our customer experience.”
Ralf Wenzel, Global Managing Director foodpanda/hellofood said,
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 online marketplace helps restaurants to increase delivery sales through online and mobile platforms, and provides them with constantly evolving technology and analytics. 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.
Mr.Vijayendra Singh, MD and Co-Founder, foodpanda.in said,
We want to firmly establish ourselves as the easiest and most preferred way to order food regardless of the location with our wide-spread network of the best and top quality partner restaurants and exclusive food deals.
Rocket Internet has created over 100 market leading companies in 100+ countries, dozens of which have been exited successfully in 15 years of its operations. The company is headquartered in Berlin, Europe's Silicon Valley, and operate a network of international Rocket offices, covering all relevant developed and emerging markets. Investors in companies started by Rocket Internet include Investment AB Kinnevik, Holtzbrinck Ventures and many others.
Also read: foodpanda chief shares a secret recipe