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foodpanda secures an additional US$100 million in funding

Nurdianah Md Nur | May 5, 2015
The funds will be used to expand the company’s delivery activities and improve the overall customer experience.

Global mobile food delivery marketplace foodpanda yesterday (4 May 2015) announced that it has raised an additional US$100 million in investment, bringing its total funding to over US$310 million since its launch in 2012.

According to foodpanda, the new funds will be used to further expand its last-mile delivery operations and improve the overall customer experience in the 40 markets across five continents it operates in. The funds will also enable the company to "build a mobile food delivery marketplace in emerging markets targeting over 3 billion consumers," said Ralf Wenzel, Co-founder and CEO of foodpanda group.  

The last funding of US$110 million in March 2015 has enabled foodpanda to launch a premium delivery service in Singapore. With the service, foodpanda patrons in the republic's central business district are able to receive their food within 60 minutes after placing their order with selected outlets.  It also helps reduce delivery charge by up to 50 percent.

"Understanding the rising trend of people opting for convenient solutions of having takeout meals while at work without compromising choice or quality, we strive to ease the lives of our customers by delivering the food you love to wherever you are" said Cassandra Ong, Marketing Director of foodpanda Singapore.

The latest financing round was led by Goldman Sachs, which will join foodpanda's advisory board as part of the investment. It also saw the participation of existing investors including Rocket Internet SE.

"We have been impressed by both the growth trajectory and high-quality management team of foodpanda," said Ian Friedman, Goldman Sachs Investment Partners. "We expect the company's offerings to lead it to be the winner in online food delivery within the markets in which it operates."

 

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