Online food ordering and delivery service hellofood/ foodpanda today annnounced a new financing round of USD 100 Million led by Goldman Sachs and existing investors, among them Rocket Internet SE.
As part of the financing round, Goldman Sachs Investment Partners will join the Advisory Board of foodpanda.
The firm in March announced it had raised $110 Million adding the total raise to $310 Million since its launch in 2012.
Hellofood/ foodpanda recently acquired key competitors in India, Mexico, Russia, Brazil, Eastern Europe and South-East Asia in an expansion move. This new raise will help the company to further expand its own delivery activities and improve overall customer experience across its 40 markets. Last-mile delivery has been part of foodpanda’s operations since the beginning, it will now accelerate its efforts to drive customer satisfaction, aiming to offer the most convenient way of ordering food – from the mobile app and online.
In a statement, Ralf Wenzel, Co-Founder and CEO of foodpanda group: “We are very happy about the recent support from Goldman Sachs Investment Partners, with its deep expertise in online marketplaces, and which, together with our renowned group of investors, will allow us to build the leading mobile food delivery marketplace in Emerging Markets targeting over 3 billion consumers. The Emerging Markets represent the largest opportunity in online food delivery and we are committed to create the most convenient way for ordering and delivering food“.
foodpanda, together with its affiliated brands, focuses on emerging markets, operating in 40 countries across five continents, market leading in 32, among them India and Russia. foodpanda is active in over 580 cities around the world, operating in 12 of the largest 20 metropolises, and partnering with over 60,000 restaurants.
Ian Friedman, Goldman Sachs Investment Partners say foodpanda’s growth trajectory and high-quality management team is imprehensive.
“We believe that foodpanda has a tremendous opportunity to cement its Emerging Markets leadership position in the coming years. It is our expectation that the Company’s innovative, value-added offerings will lead foodpanda to be the winner in online food delivery within the markets in which it operates,”Friedman said.
