FoodPanda Raises $20 Million in Funding
FoodPanda, a leading food delivery chain in the world currently operating in over 27 countries including India, has secured USD 20 million funding from from a group of investors including Investment AB Kinnevik and Phenomen Ventures.
The company focuses especially on emerging markets, operates together with its affiliated brand hellofood already in 27 countries on four continents and reaches about three billion people worldwide. FoodPanda’s parent company Rocket Internet operates multiple online business all over the world. In India, their popular products are Jabong, FabFurnish, Printvenue, etc.
Ralf Wenzel, Global Managing Director of FoodPanda said, “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. 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 financing will support FoodPanda as it adds more restaurants, countries, and customers into its systems. The startup emerged out of Berlin-based accelerator Rocket Internet, and this round was led by Investment AB Kinnevik and Phenomen Ventures. FoodPanda is based in Berlin.