FoodPanda raises another US$100mil, total US$310mil since launch
By Digital News Asia May 4, 2015
- Round led by Goldman Sachs, which will join advisory board
- Funds to be pumped into customer satisfaction, focus on last-mile delivery
ONLINE food delivery marketplace FoodPanda has announced a new funding round of US$100 million, led by Goldman Sachs. Existing investors, among them Rocket Internet SE, also participated in the round.
Together with the last funding of US$110 million in March, FoodPanda has now raised over US$310 million since its launch in 2012, the company said in a statement.
As part of the financing round, Goldman Sachs Investment Partners will join FoodPanda’s advisory board.
After acquiring key competitors in India, Mexico, Russia, Brazil, Eastern Europe and South-East Asia, the company will use the recent investment to further expand its own delivery activities and improve overall customer experience across its 40 markets.
“We are very happy about the recent support from Goldman Sachs Investment Partners, with its deep expertise in online marketplaces, and which, together with our renowned group of investors, will allow us to build the leading mobile food delivery marketplace in emerging markets targeting over three billion consumers,” said cofounder and chief executive officer Ralf Wenzel (pic).
FoodPanda said last-mile delivery has been part of its operations since the beginning, but it will now accelerate its efforts to drive customer satisfaction, aiming to offer the most convenient way of ordering food – from the mobile app and online.
FoodPanda and its affiliated brands focus on emerging markets, operating in 40 countries across five continents. It said it is active in over 580 cities around the world, partnering with over 60,000 restaurants.
“We have been impressed by both the growth trajectory and high-quality management team of FoodPanda,” said Ian Friedman of Goldman Sachs Investment Partners.
“We believe that FoodPanda has a tremendous opportunity to cement its emerging markets leadership position in the coming years,” he said in the statement issued by FoodPanda.
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