foodpanda secures additional US$20M funding; to go on expansion spree
With the new investment, foodpanda aims to continue its global growth and enter over 40 markets by the end of Q1 2014By Terence Ng 07 Feb, 2014
Online food delivery marketplace foodpanda and its affiliated brand hellofood have announced that it has received another US$20 million in funding from a group of investors, including Phenomen Ventures.
This follows two previous rounds of funding concluded in 2013, in which it raised US$20 million from Investment AB Kinnevik and Phenomen Ventures, as well as US$8 million from iMENA Holdings.
With the new investment, foodpanda aims to continue its global growth and roll out in over 40 markets by the end of Q1 2014. That said, Asia remains foodpanda’s biggest market, and it will continue with its growth here, shared a spokesperson.
In addition, Ralf Wenzel, Co-founder and Global Managing Director of foodpanda and hellofood, assured that current users will be continually engaged as well.
“Having acquired the trust from experienced investors, we will be able to continue our growth strategy to become a truly global internet brand,” Wenzel said, adding, “Furthermore, we will push our expansion within our existing markets to gain presence in every corner of every country we are active in. We will continue to invest in customer service, creating the most convenient ways to order food – no matter where you are.”
Last year, foodpanda expanded its operations into 20 countries, and the launch of its iOS and Android mobile apps has made it one of the leading food delivery apps worldwide. Following its growth strategy, foodpanda will be launching services into eight more countries by early 2014; they include Croatia, Bulgaria, Serbia, Slovenia, Kazakhstan, Azerbaijan, Tanzania and Uganda.
foodpanda’s online marketplace helps restaurants increase delivery sales through online and mobile platform, and also provides them with constantly evolving technology and analytics. Customers can choose their favourite meal online, with foodpanda processing the order directly to the restaurant, and the restaurant delivering the meal to the customer. foodpanda is partners with over 22,000 restaurants worldwide.