foodpanda raises another US$100m; total funding tops US$310m
FOOD-DELIVERY platform foodpanda has raised an additional US$100 million in what is said to be its second Series E round, taking total funding to over US$310 million since its founding in 2012.
Led by Goldman Sachs (which foodpanda said has "deep expertise in online marketplaces"), this latest funding round also saw participation from its earliest investor, Rocket Internet.
"The company will use the recent investment to further expand its own delivery activities and improve overall customer experience across its 40 markets," foodpanda said on Monday.
This announcement comes a week after foodpanda Singapore launched its premium delivery service with selected food outlets, allowing users in the central business district to receive their food in under an hour while at the same time cutting the delivery charge by up to 50 per cent.
In March, foodpanda raised 37 million euros (S$55.1 million) in Series E from Rocket Internet. In February, it snapped up six rival sites across seven markets - among them Food Runner in Singapore and Just Eat in India - to beef up Rocket Internet's newly minted Global Online Takeaway Group.
The platform reportedly now partners some 400 restaurants in Singapore, where it is believed to have been founded. Globally, it operates in over 580 cities in 40 markets - mostly emerging markets - partnering more than 60,000 restaurants.
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