Online food delivery service Foodpanda/ Hellofood has raised $110 million from Rocket Internet and new investors to up its product and technology and ensure customer loyalty after a string of acquisitions around the world. This gives Rocket Internet a majority stake in the company at 52%.
With $200 million since it was launched, Hellofood bought out competitors in Europe, the Middle East and Asia,India, Mexico, Russia and Brazil. Rocket Internet put in 37 million euros in this round.
Present in several countries in Africa such as Nigeria, Kenya, Uganda and Tanzania, Hellofood works with over 45,000 restaurants in 40 countries and claims to be the market leader in 32 countries. In India, the company has tied up with more than 12,000 restaurants across 200 cities.
Ralf Wenzel, Co-Founder and CEO of the foodpanda group said: “Over the last couple of months we have become the leading online food delivery marketplace across the most promising and fastest growing emerging markets. The new funding allows us to fully focus on user experience and customer service with the aim of completely disrupting the way people order food by establishing a real alternative to pizza flyers and phone calls.”
foodpanda / hellofood aims to bring convenience in the food ordering industry and provide restaurants a platform to increase delivery sales through online and mobile platforms and provides them with constantly evolving technology and analytics.
Hellofood competes with Yum in Kenya but the market is still huge for both of them to co-exist.