The foodpanda group – and its affiliated brands hellofood and Delivery Club – has secured US$60 million in its latest funding round, which the company said will allow it to strengthen and expand its position in existing markets.
The foodpanda group – and its affiliated brands hellofood and Delivery Club – has secured US$60 million in its latest funding round, which the company said will allow it to strengthen and expand its position in existing markets.
The funds were secured from a group of investors which includes existing investors Falcon Edge Capital and Rocket Internet AG, foodpanda said.
“We are very pleased by the sign of confidence and the acknowledgment of our current success,” said Ralf Wenzel, global managing director of foodpanda.
“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,” Wenzel said.
“We want to establish ourselves as the market-leading food delivery marketplace, creating the most convenient way to order food – wherever you are.”
This latest funding round brings the company’s total funds raised since its launch in 2012 to over US$100 million; foodpanda most recently having secured over US$20 million from Phenomen Ventures and Investment AB Kinnevik and US$8 million from iMENA Holdings in 2013, as well as a further US$20 million from a group of investors including Phenomen Ventures in February 2014.
Operating in several African countries including Nigeria, Morocco, Kenya, Ghana, Senegal, Ivory Coast, Rwanda, Tanzania, Uganda and Algeria, the foodpanda helps restaurants increase delivery sales through online and mobile platforms.
The online and mobile foodpanda platform passes customers’ online food orders directly to the restaurants concerned, with the establishment then delivering the meal to the customer.
Image courtesy of Shutterstock.
