FoodPanda group raises US$60mil more, aimed at emerging markets
By Digital News Asia August 12, 2014
- To strengthen and expand position in existing countries
- Looks to partnering more restaurants in more cities
ROCKET Internet portfolio company FoodPanda, together with its affiliated brands HelloFood and Delivery Club, announced another financing round of US$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 US$100 million, the company said in a statement. Most recently, in February this year, it secured US$20 million in funding from a group of investors including Phenomen Ventures.
Earlier, in 2013, it secured more than US$20 million funding from Phenomen Ventures and Investment AB Kinnevik, and US$8 million from iMENA Holdings. Recently, it acquired Russian competitor Delivery Club.
“We are very pleased by the sign of confidence and the acknowledgment of our current success,” said FoodPanda/ HelloFood global managing director Ralf Wenzel (pic).
“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,” he said.
FoodPanda said it helps restaurants increase delivery sales through online and mobile platforms, and provides them with constantly evolving technology and analytics.
Customers can choose their favourite 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.
FoodPanda, together with HelloFood and Delivery Club, is now active in more than 40 countries on five continents.
Rocket Internet's FoodPanda here for the long haul
Rocket Internet’s FoodPanda gets additional US$20mil
FoodPanda Malaysia in delivery deal with 7-Eleven
FoodPanda and OpenRice in regional pact
For more technology news and the latest updates, follow us on Twitter, LinkedIn or Like us on Facebook.