Mobile food delivery service Foodpanda has announced a new financing round of US$100 million, led by Goldman Sachs. The latest investment brings Foodpanda’s total investments to more than US$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 Foodpandaâ€™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 â€“ from the mobile app and online.
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, said fund will allow the brand 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.”