foodpanda raises additional USD 100 Million in funding led by Goldman Sachs
Investment to be used to expand foodpanda’s last-mile delivery operations and further improve customer experience
Berlin, Germany / Singapore, 4th May 2015: foodpanda, the global mobile food delivery marketplace today announces a new financing round of USD 100 Million led by Goldman Sachs. Existing investors, among them Rocket Internet SE, also participated in the round.
Together with the last funding of USD 110 Million in March 2015, foodpanda has now raised over USD 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.
This announcement comes as foodpanda Singapore just launched its premium delivery service with selected outlets allowing foodpanda patrons in the CBD to receive their food within 60 minutes after placing their order while at the same time cutting the delivery charge by up to 50%. Celebrating its 3rd anniversary in Singapore, foodpanda now partners with over 400 food outlets in the city state.
“foodpanda understands the dynamics of a fast-paced working environment, where we see a rising trend of people opting for convenient solutions of having takeout meals while at work without compromising choice or quality. As the leading platform in offering the widest selection of deliverable food options, we strive to ease the lives of our customers by simply delivering the food you love to wherever you are,” explains Ms. Cassandra Ong, Marketing Director of foodpanda Singapore.
On a global level, foodpanda, together with its affiliated brands, focuses on emerging markets, operating in 40 countries across five continents, market leading in 32, among them India and Russia. 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 of foodpanda group: “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: "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."
As part of the financing round, Goldman Sachs Investment Partners will join the Advisory Board of foodpanda.
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