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Foodpanda receives $20 million from Phenomen Ventures, others

Tags: foodpanda, rocket internet, phenomen ventures, funding, sme, online food delivery, incubator

February 05, 2014 | COMMENTS ( 0 )

Foodpanda receives $20 million from Phenomen Ventures, others

Rocket Internet’s Foodpanda, a growing food delivery service worldwide, and its affiliated brand HelloFood, have raised a fresh round of funding worth $20 million from a group of investors including Phenomen Ventures.

 

Foodpanda together with its affiliated brands has expanded into 15 more countries. It co-operates with about 15,000 restaurants and is already a market leader in majority of the countries the company operates in. FoodPanda seeks to utilize the amount raised to expand its services by launching in over 40 markets by the end of Q1 FY14.

 

Rohit Chadda, Managing Director and Co-founder, India said, “We are already the largest online food ordering platform globally with over 22,000 restaurants listed on our platform. This round of investment will be utilized to continue our expansion both globally into new markets as well as existing ones. In India, we will further scale up our operations across the country, including tier 2 and tier 3 cities and towns in order to reach as many customers as possible.”

 

“Customer service has always remained the key focus for us and we will continue to invest in streamlining our operations to make Foodpanda the most convenient and customer friendly food ordering platform,” he added.

 

According to Ralf Wenzel, Co-Founder and Global Managing Director foodpanda/hellofood, “We will be able to continue our growth strategy to become a truly global internet brand. Further to this, we will push our expansion within our existing markets, to gain presence at every corner of every country we are active in.”

 

The online marketplace helps restaurants to increase delivery sales through online and mobile platforms. In India, FoodPanda is already in partnership with more than 3,000 restaurants across 14 cities. It primarily focuses on emerging markets and is currently operational in 35 countries across five continents. It is operational as FoodPanda in Asia & Europe and as HelloFood in Latin America, Middle East & Africa.

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