Online food delivery marketplace foodpanda/hellofood has spread to 40 countries in only 22 months.
It has partnered with more than 22,000 restaurants and has been welcomed in Algeria, Azerbaijan, Bulgaria, Croatia, Lebanon, Serbia, Kazakhstan and Uganda, with more to follow later in the year.
The company was active in 20 countries only one year ago, less than a year after launching in May 2012. The Berlin-based startup’s rapid rise has made it the fastest expanding Rocket Internet venture to date in terms of country expansion.
Ralf Wenzel, Global Managing Director of foodpanda/hellofood said: ‘’We’re a global company, Getting to the new markets quickly gives us a huge competitive advantage. Our accelerated growth is proof that our model works and that our customers enjoy the convenience we offer to them. We have great local teams in every country we operate in and we will continue to work hard to make our products available in even more countries and look forward to the opportunities ahead.’’
foodpanda, and its affiliated brand hellofood, have secured $48 million in venture capital funding from a group of investors among them Investment AB Kinnevik and Phenomen Ventures.