Online food delivery firm foodpanda raises $100 million in financing

555

By Karen Rebelo

Foodpanda, an online take-away food delivery company, said on Friday it had raised $100 million in financing led by Goldman Sachs.

The company, which lets users order food through its website and app, said it would use the investment to improve customer service and expand its delivery operations.

Goldman Sachs Investment Partners will join foodpanda’s advisory board as part of the financing deal, a statement from the company said.  Current investors, including parent Rocket Internet AG, also participated in the fundraising round.

The company, hoping to capitalise on the fast-growing global online food market, operates in 40 countries and counts itself as the market leader in 32 countries, including Russia and India, where it bought rivals JustEat India and TastyKhana.

Foodpanda has raised more than $310 million since its launch in 2012.

(Editing by David Lalmalsawma; Follow Karen on Twitter @karen_rebelo and David @davidlms25 | This article is website-exclusive and cannot be reproduced without permission)

from India Insight http://ift.tt/1Kz6agF