Online food delivery company Foodpanda has raised $20m of expansion capital.
The company, which grew out of German venture builder and accelerator Rocket Internet, secured investment from Swedish investment group Investment AB Kinnevik and Russian internet and technology investor Phenomen Ventures.
In recent months, Foodpanda and Hellofood expanded into 15 more countries, including India, Nigeria, and Argentina. It recently also took over the competitor Ételvitel KFT in Hungary.
Ralf Wenzel, global managing director, said, “Winning the trust from these well-known and experienced investors is a great achievement for such a young company and emphasises the position of Foodpanda as the most global food delivery service. With the new capital we will make another huge step forward to further accelerated growth and optimised customer service. It’s our goal that Foodpanda comes into everyone’s mind, when thinking about ordering food.”
Since 2007 Rocket Internet has been headquartered in Berlin and operates a network of 25 international offices. Earlier this year, Rocket founders, the Samwer brothers, launched a €150m venture fund.
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