Rocket Internet’s hungry Foodpanda gobbles up $60-million

Foodpanda panda on a bike

Foodpanda, which also operates under affiliated brands Hellofood and Delivery Club, has raised US$60-million from Falcon Edge and Rocket Internet AG. The food delivery startup now plans to strengthen its presence on all the five continents it currently operates in.

In 2013, foodpanda secured more than US$20-million funding from Phenomen Ventures and Investment AB Kinnevik, and US$8-million from iMENA Holdings. Another US$20-million from a group of investors, including Phenomen Ventures, was collected in February 2014.

Since launching in 2012 the food delivery startup has raised more than US$100-million and is now operating in 40 countries across the globe. It’s also the German incubator heavyweight’s fastest expanding venture.

Recently, the company acquired competitor Delivery Club, making it the leading food delivery marketplace in Russia. Ralf Wenzel, Global Managing Director Foodpanda notes that the confident cash injection will be used to get more restaurant clients on board as well as improving customer service:

“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.”



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