The funds will be used to expand foodpanda’s last-mile delivery operations and improve customer experience
Foodpanda, the global food delivery marketplace announced a new financing round on Friday of $100 million led by Goldman Sachs. Existing investors, among them Rocket Internet, also participated in the round. As part of the financing round, Goldman Sachs Investment Partners will join the advisory board of foodpanda.
With the last funding of $110 million in March 2015, foodpanda has now raised over $310 million since its launch in 2012. After acquiring key competitors in India, Mexico, Russia, Brazil, Eastern Europe and Southeast Asia, the company will use the recent investment to further expand its own delivery activities and improve overall customer experience across its 40 markets.
Food delivery on fire in India
Foodpanda, together with its affiliated brands, focuses on emerging markets, operating in 40 countries across five continents. In an earlier conversation with e27, Wenzel stressed on the growing importance of India for foodpanda. Rising Internet penetration and rapid adoption of smartphones in India is leading to a growth in the number of Internet-based companies. Hence, the online-food ordering market is also booming. According to the officials, after e-commerce, the next revolution will be in the food-tech space.
This post was originally published on e27.
Featured Image Credit: foodpanda’s homepage.