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