Online Food Delivery Company FoodPanda Raises Over $20 Million
FoodPanda is a food delivery company that was incubated at Rocket Internet, the accelerator program run by the Samwer brothers in Europe. FoodPanda lets users order food from a variety of take-out restaurants to have food brought to your door. FoodPanda is working with 15,000 restaurants globally. Today the company has announced that they have raised over $20 million in funding from AB Kinnevik, Phenomen Ventures, and Rocket Internet.
The funding will go towards growth and product development. Other Europe-based startups that have recently raised funding for similar business models include Delivery Hero’s $50 million and Just-Eat’s $64 million.
FoodPanda and their affiliate brand hello food entered 15 new countries over the last few months. They are now active in 27 different markets. FoodPanda is focusing on growing in emerging markets like South America, Asia, Africa, and Eastern Europe. Last month, FoodPanda acquired a Hungarian competitor called Etelvitel KFT.
FoodPanda also has an iPhone and Android apps so that users can access their service on-the-go. Based in Berlin, FoodPanda users simply enter their city and browse delivery options that are in that area. Users can see ratings, delivery fees, and menus through the website.
“Winning the trust from these well-known and experienced investors is a great achievement for such a young company and emphasizes the position of foodpanda as the most global food delivery service,” stated FoodPanda’s Global Managing Director Ralf Wenzel. “With the new capital we will make another huge step forward to further accelerated growth and optimized customer service. It’s our goal that foodpanda comes into everyone’s mind, when thinking about ordering food.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry