Foodpanda Gets Funding Again, This Time Worth $60 Million

Food delivery service Foodpanda announced the acquisition of $60 million (approximately IDR 700 billion) in funding from a group of investors, including long-time investors such as Falcon Edge Capital and Rocket Internet AG. In total since its launch, Foodpanda has secured an investment of approximately $108 million to establish itself as a leading food delivery service in developing countries. Foodpanda and its affiliates are available in more than 40 countries.

Global Managing Director Foodpanda/Hellofood Ralf Wenzel said in a press release, "We are very pleased with the trust and recognition of our success. This new funding will be invested in the sustainable development of our existing market, by partnering with more restaurants in more cities. and improve customer service even more. We want to establish ourselves as a leader in the food delivery market, creating the most fun way to order food -- wherever you are."

Foodpanda itself last June just acquired its competitor Delivery Club and became the largest in this segment in Russia. In the last two years, Foodpanda has raised a total of $48 million in three rounds, namely $20 million from Phenomen Ventures and Investment AB Kinnevik, $8 million from iMENA Holdingsm and another $20 million from a group of investors, including Phenomen Ventures.

Backed by the Rocket Internet group, Foodpanda is rapidly expanding with a focus on emerging markets. In the Southeast Asia region, Foodpanda has cooperate with OpenRice to enrich restaurant review information, while OpenRice displays a Foodpanda food ordering widget on its website.

In Indonesia alone, Foodpanda is available in five regions or cities. Apart from Jabodetabek, consumers can use this service to order food in Bali, Bandung, Makassar, and Medan. The portion of orders via mobile devices in Indonesia is considered very significant, with the number reaching 25% shortly after its launch in April 2013. The number is certain to soar, or even become the majority, this year.

Consumers of Android users can also enjoy payment by credit card which is one wishlist long wanted.

[Photo illustration: Shutterstock]