Food delivery service company receives investment from Falcon Edge Capital and Rocket Internet AG; more expansion on the horizon
Online food delivery marketplace foodpanda just received another round of funding. The startup has secured US$60 million from Falcon Edge Capital and Rocket Internet AG.
foodpanda will be using the money to expand just like its prosperous mascot. The company’s Global Managing Director Ralf Wenzel said that the new funding will be used to keep growing its existing markets, especially in the Asian region, by extending more partnerships with new restaurants, as well as improve customer service. According to an industry report, Wenzel said that the company plans to get into every single Asian city over the coming months.
The company also plans to expand its other brands hellofood and Delivery Club. The latter company is a Russian food delivery marketplace that foodpanda acquired for an undisclosed amount.
foodpanda is now worth US$108 million.
Also Read: Rocket Internet’s foodpanda officially in Hong Kong
While the company operates globally (serving 40 countries) and its headquarters is in Germany, it has a large focus on Southeast Asia. The company has over 10,000 restaurant partners in Asia alone.
The app is available on iOS, Android, Windows, Nokia x and Asha. The delivery service startup also expanded to the Philippines and Hong Kong this year.
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