foodpanda and affiliated brand hellofood have announced US$20 million in new funding, earmarked for expansion to Tanzania, Uganda and several other countries.
In a statement, foodpanda said the funding – secured from a group of investors including Phenomen Ventures – would be used to continue the brand’s global rollout in 2014.
“With the new investment foodpanda is aiming to continue its global ambitions and roll out to over 40 markets by the end of Q1. The company is currently operating in four continents.” the company said.
Ralf Wenzel, co-founder and global managing director of foodpanda and hellofood said the company will use the fund to push its expansion plans.
“We are currently the most globally prominent online marketplace for food delivery, active and rising in Asia, Europe, Latin America, the Middle East and Africa,” Wenzel said. “Having acquired the trust from experienced investors we will be able to continue our growth strategy to become a truly global internet brand. Further to this, we will push our expansion within our existing markets, to gain presence at every corner of every country we are active in. We continue to invest in customer service, creating the most convenient way to order food – no matter where you are.”
In 2013, foodpanda expanded into 20 more countries and launched a mobile app for iOS and Android, which is currently one of the leading food delivery apps worldwide.
The company will also expand its services into Croatia, Bulgaria, Serbia, Slovenia, Kazakhstan and Azerbaijan.
“The online 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 processes the order directly to the restaurant, which delivers the meal to the customer. foodpanda is partners with over 22.000 restaurants worldwide,” the company said.
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