foodpanda group raises another $60 Million, aiming leadership in emerging markets
Global food delivery marketplace to strengthen and expand position in existing countries
11 AUGUST 2014, BERLIN, AUGUST 11TH 2014
Summaryfoodpanda, together with its affiliated brands hellofood and Delivery Club, today announced another financing round of $60 Million from a group of investors, including various existing investors, Falcon Edge Capital and Rocket Internet AG. Since its launch in 2012, foodpanda/hellofood has raised over $100 Million. Recently, the company acquired competitor Delivery Club, making it the leading food delivery marketplace in Russia.
Berlin, August 11th 2014 - foodpanda, together with its affiliated brands hellofood and Delivery Club, today announced another financing round of $60 Million from a group of investors, including various existing investors, Falcon Edge Capital and Rocket Internet AG. Since its launch in 2012, foodpanda/hellofood has raised over $100 Million. Recently, the company acquired competitor Delivery Club, making it the leading food delivery marketplace in Russia.
Ralf Wenzel, Global Managing Director foodpanda/hellofood: “We are very pleased by the sign of confidence and the acknowledgment of our current success. The new funding will be invested in continuous growth in our existing markets, by partnering with even more restaurants in more cities and further improving customer service. We want to establish ourselves as the market-leading food delivery marketplace, creating the most convenient way to order food – wherever you are.”
The marketplace helps restaurants to increase delivery sales through online and mobile platforms, and provides them with constantly evolving technology and analytics. Customers can choose their favorite meal online, and foodpanda sends the order directly to the restaurant, which delivers the meal to the customer. The company has recently launched its next generation mobile application available on major platforms.
In 2013, foodpanda secured more than $20 Million funding from Phenomen Ventures and Investment AB Kinnevik, and $8 million from iMENA Holdings. Another $20 Million from a group of investors, including Phenomen Ventures, was collected in February 2014.
foodpanda together with its affiliated brand hellofood and Delivery Club, is the leading global online food delivery marketplace, active in more than 40 countries on five continents. The company enables restaurants to become visible in the online and mobile world and provides them with a constantly evolving online technology. For consumers, foodpanda/hellofood offer the convenience to order food online and the widest gastronomic range, from which they can choose their favorite meal on the web or via the app. foodpanda operates in India, Thailand, Indonesia, Pakistan, Singapore, Malaysia, Brunei, Vietnam, Taiwan, Bangladesh, Kazakhstan, Azerbaijan, Cambodia, Hong Kong, Philippines, Russia, Poland, Ukraine, Hungary, Romania, Bulgaria, Georgia and Serbia. hellofood operates in Brazil, Mexico, Argentina, Chile, Colombia, Peru, Saudi Arabia, Jordan, Lebanon, Qatar, Nigeria, Morocco, Kenya, Ghana, Senegal, Ivory Coast, Rwanda, Tanzania, Uganda and Algeria. Delivery Club operates in Russia.
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About Rocket Internet
Our Mission: To Become the World's Largest Internet Platform Outside the US and China
We intend to create an Internet giant where none exists today. We strive to own the mobile homescreen with a view to maximizing our share of consumer online spending in our fast-growing markets. We identify and build proven Internet business models and transfer them to new, underserved or untapped markets, mainly outside the United States and China, where we seek to scale them into market leading online companies. Started in 2007 Rocket Internet today employs more than 20,000 people across our network of companies, which operates in more than 100 countries on 5 continents.
We build online business models that satisfy basic consumer needs mainly across three focus sectors. Our e-commerce companies include retail companies in the areas of fashion, general merchandise, home and living, office supplies and food and groceries. Our marketplace companies seek to displace traditional supply chains by creating venues where buyers and sellers can transact directly, and include real estate and car online classifieds, travel and transport, and food delivery companies. Our third sector, financial technology, includes companies that focus on bringing together borrowers and lenders in regions and segments that are underserved by traditional banks, particularly in the consumer and small and medium-sized enterprise segments, and on facilitating payments.
As part of our global strategy, we have created regional Internet groups in Africa, Asia Pacific, Latin America and the Middle East in order to bundle local market and business model insights, facilitate regional commercial, strategic and investment partnerships, in particular with mobile telecommunication providers, enable local recruiting and sourcing and accelerate the regional rollout of our companies. We have developed proprietary technology where we believe it provides our companies with a competitive advantage. Our proprietary technology is highly flexible and scalable and provides our companies with significant cost and speed advantages, particularly during their initial rapid launch and rollout processes.
Our platform has enabled us to build a large, global network of companies and has historically put us in a position to launch more than 10 new companies every year through application of a standardized business model identification and development process. Every new company that we start accelerates the virtuous circle of synergy creation among our companies. The larger the size of our network of companies, the more significant our opportunity is to benefit from synergies and network effects with respect to our suppliers, solution providers, customers and employees.