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Foodpanda Raises $110 Million

FoodPanda, the startup that connects hungry people to great food has raised a fresh round of investment of 110 million led by Rocket Internet AG and others.

FoodPanda, the startup that connects hungry people to great food has raised a fresh round of investment of 110 million led by Rocket Internet AG and others. “Within the past weeks we have been able to build the Global Online Takeaway Group into a truly global operation, being present in more than 70 countries” said Oliver Samwer, CEO of Rocket Internet.

Rocket made the investment by purchasing additional shares from existing shareholders and received shares formerly held through Latin America Internet Group through a share dividend, thus increasing its direct ownership stake in Foodpanda from under 50% to 52%. Other investors on the FoodPanda list include Phenomen Ventures, Investment AB Kinnevik and iMENA Holdings.

Foodpanda aims to use the latest funding round to further strengthen its product and operations, and increase food coverage, just as they have done before; buying and expanding global presence.

Recently Foodpanda acquired JustEat in India, alongside six other choices: Room Service, a brand of Food Runner, in Malaysia and Singapore; City Delivery, also brand of Food Runner, In Philippines; EatOye, In Pakistan; Koziness, In Hong Kong and partnership with Food By Phone in Thailand. In December, it consolidated its presence in the European markets acquiring three peers – Donesi.com (operating in Serbia, Montenegro and Bosnia and Herzegovina), Pauza.hr in Croatia and NetPincer in Hungary.

Prior to that, it bought Pune based, TastyKhana from its peer, Delivery Hero which was part of a larger global acquisition transaction where in the two global delivery portals swapped their previous acquisitions and subsidiaries.

While it operates under the hello food brand in Latin America, Africa and the Middle East, FoodPanda brand is in Asia, Eastern Europe and some Commonwealth of Independent States countries. It has over 45,000 restaurants across 40 countries and claims to get close to a 100,000 unique visitors daily.