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foodpanda raises $100 million fund from Goldman Sachs

Tags: foodpanda, Goldman Sachs, Rocket Internet, food delivery, restaurants

May 02, 2015 | COMMENTS ( 0 )

foodpanda raises $100 million fund from Goldman Sachs

foodpanda, the mobile food delivery marketplace has announced a new financing round of $100 million led by Goldman Sachs. Existing investor Rocket Internet SE also participated in the round.

Together with the last funding of $110 Million in March 2015, foodpanda has now raised over $310 Million since its launch in 2012. After acquiring key competitors in India, Mexico, Russia, Brazil, Eastern Europe and South-East Asia, the company will use the recent investment to further expand its own delivery activities and improve overall customer experience across its 40 markets.

“Last-mile delivery has been part of foodpanda’s operations since the beginning, it will now accelerate its efforts to drive customer satisfaction, aiming to offer the most convenient way of ordering food – from the mobile app and online,” said the company’s official release.

foodpanda, together with its affiliated brands, focuses on emerging markets, operating in 40 countries across five continents. foodpanda is active in over 580 cities around the world, operating in 12 of the largest 20 metropolises, and partnering with over 60,000 restaurants.

Ralf Wenzel, Co-Founder and CEO, foodpanda group, said, “We are very happy about the recent support from Goldman Sachs Investment Partners, with its deep expertise in online marketplaces, and which, together with our renowned group of investors, will allow us to build the leading mobile food delivery marketplace in Emerging Markets targeting over 3 billion consumers. The Emerging Markets represent the largest opportunity in online food delivery and we are committed to create the most convenient way for ordering and delivering food.”

Ian Friedman, Goldman Sachs Investment Partners, said, "We have been impressed by both the growth trajectory and high-quality management team of foodpanda. We believe that foodpanda has a tremendous opportunity to cement its Emerging Markets leadership position in the coming years. It is our expectation that the company’s innovative, value-added offerings will lead foodpanda to be the winner in online food delivery within the markets in which it operates."

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