NEWS & VIEWS

Global private equity and venture capital news and research

Online takeway hub Foodpanda seals another $20m funding round

6 Feb 2014

Berlin-based online food delivery hub Foodpanda has received another $20m in funding from a group of investors including existing backer Phenomen Ventures.

With the new investment Foodpanda is aiming to continue its global ambitions and roll out to over 40 markets by the end of Q1, it said.

Last year, the company 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, which grew out of German venture builder and accelerator Rocket Internet, secured more than $20m funding from Phenomen Ventures and Investment AB Kinnevik in May 2013 and $8m from iMENA Holdings in a prior round.

“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. 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,” the company said.

Copyright © 2014 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014