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Foodpanda raises US$110 million in new funding round

Zafirah Salim | March 13, 2015
The company said that funds will be used towards improving user experience and customer service.

Online food delivery marketplace, foodpanda, announced yesterday that it has secured another round of funding of US$110 million, led by Rocket Internet AG, as well as other existing and new investors.

Following this, foodpanda said that it has raised a total of more than US$200 million since its launch in 2012.

After acquiring key competitors this year in India, Mexico, Russia, Brazil, Eastern Europe, Middle East and Asia, foodpanda said that it is focused on furthering investment into product and technology. It added that it will also continue to improve its customer service and loyalty to be the most convenient and user-friendly option of food delivery.

"Over the last couple of months, we have become the leading online food delivery marketplace across the most promising and fastest growing emerging markets," said Ralf Wenzel, co-founder and CEO of the foodpanda group. "The new funding allows us to fully focus on user experience and customer service with the aim of completely disrupting the way people order food by establishing a real alternative to pizza flyers and phone calls."

foodpanda is currently active in 40 countries across five continents. It aims to provide customers with the most convenient way of food ordering through its mobile and web applications. It also aims to help restaurants to increase their delivery sales, and provide them with constantly evolving technology and analytics.

 

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