Food delivery company foodpanda gets $60m infusion

Friday, Aug 15, 2014 15:16

HCM CITY (Biz Hub) — Food delivery company foodpanda and its affiliated brands hellofood and Delivery Club have received US$60 million worth of funding from a group of investors to expand operations in promising markets, including Viet Nam.

The company said the infusion of funds is from two of its existing investors, Falcon Edge Capital and Rocket Internet AG, and others it did not want to reveal.

Since being set up in 2012, foodpanda and hellofood have raised over raised over $100 million. Coming to Viet Nam shortly after its global launch, backed by global investors and with strategic development investment, foodpanda has emerged as one of the biggest online food delivery operators in the country.

"We are very pleased by the sign of confidence and the acknowledgment of our current success," Ralf Wenzel, global managing director of foodpanda and hellofood, said.

"The new funding will be invested in continuous growth in our existing markets, by partnering with even more restaurants in more cities and further improving customer service.

"We want to establish ourselves as the market-leading food delivery marketplace, creating the most convenient way to order food – wherever you are." — VNS

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