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Germany’s Delivery Hero brings home $49m financing through Kite Ventures, Kreos

28 Aug 2012

Kite Ventures and Kreos Capital have helped double the investment in Delivery Hero by taking part in a $49m financing round.

The Berlin-based online food ordering company, which offers delivery from 22,000 restaurants across the globe, has picked up $98.4m in just 21 months.

Kite Ventures partner Edward Shenderovich said, “Since our first investment in Delivery Hero we have been impressed with the performance of the Delivery Hero team.

“The company has been growing rapidly into various markets.

“We are happy that we were able to significantly increase our investment into Delivery Hero and provide sufficient capital to support this growth.”

Kreos Capital general partner Mårten Vading added, “We are happy that Kreos is able to provide Delivery hero with the flexible financing that management and shareholders were looking for.

“The partnership with Delivery Hero is just starting and we will be looking forward to support Delivery Hero’s fast paced growth.”

Company CEO Fabian Siegel said it would use the funding round to fuel its “aggressive” international growth plans.

London-based growth debt provider Kreos announced the first closing of its new fund, Kreos Capital IV, in January with commitments of more than €120m.

The firm is looking to reach a final close of up to €200m this year and plans to invest more than €500m over the coming five years.

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