HungryPanda, a leading overseas Asian food delivery platform, announced the successful completion of a $55 million refinancing and fundraising. The funding round was led by Mars Growth Capital, a JV between Liquidity Group and MUFG, with continued support from HungryPanda’s existing investors, including Perwyn, Kinnevik, 83North, and Felix. This new funding will enable HungryPanda to solidify its leadership in the Asian food delivery market and explore new opportunities to serve a broader range of minority ethnic communities, especially in North America.
Launched in 2017, HungryPanda became a global leader in Asian food delivery. Operating in over 80 cities across 10 countries, it serves over 6.5 million users in partnership with over 100,000 merchants. In 2021, the company raised $130 million in Series D funding to expand into new markets and explore mergers and acquisitions.
So far, HungryPanda has raised over $275 million in funding and entered a new phase of business growth. In 2024, It achieved profitability while maintaining an annual growth rate of over 30%—a notable achievement in the competitive food delivery industry.
This new funding round will enable HungryPanda to continue meeting the growing demand for Asian food and groceries, while upholding the high service standards its customers expect. ANd HungryPanda remains committed to supporting its delivery riders by setting industry-leading standards for safety and offering sustainable gig work opportunities.
KEY QUOTES:
“Reaching profitability while maintaining significant growth demonstrates the strength of our business model and our long-term vision. This success is a testament to the dedication and hard work of our entire team. HungryPanda is more than just a delivery platform—we see ourselves as an ambassador of Asian cuisine. With this new funding, we are poised to accelerate our expansion into North America, elevate our services, and continue to champion the richness of Asian food culture on a global scale. We are especially grateful for the support from Mars Growth Capital and Liquidity Group, whose partnership will help us achieve our ambitious goals.”
- Eric Liu, Founder and CEO of HungryPanda
“I am proud of how HungryPanda has positioned itself uniquely within the food delivery sector by focusing on the specific needs of Asian communities globally. Our targeted approach and deep understanding of this market have been key drivers of our growth and success. “As we continue to scale, I am confident we will further solidify our leadership in this space and capitalize on new opportunities.”
- David Buttress, Chairman of the Board at HungryPanda
“HungryPanda has been able to carve out an impressive niche in the highly-competitive food delivery vertical, and as a result, has experienced double-digit growth while continuing to strengthen its position as a market leader. We are excited to be part of HungryPanda’s next chapter along with its existing investors.”
- Paul Brodie, Managing Director, Europe at Mars Growth Capital and Liquidity Group
