Within 50 days of Foodpanda’s previous funding round where it raised $110 million, the online food ordering and delivery service Foodpanda has again secured $100 million in funding led by Goldman Sachs. This round of funding was also partnered by its existing investor Rocket Internet AG.
After this deal, Goldman Sachs will join the Advisory Board of Foodpanda. In total, Foodpanda has raised over $310 million since its inception in 2012. Foodpanda that is based out of Berlin will use the latest cash injection to expand the food delivery operation and improve the overall customer experience across its 40 markets. Foodpanda has been on a major acquisition spree this year snapping up its rivals in India, Mexico, Eastern Europe and South-East Asia.
As per Ralf Wenzel, Co-Founder & CEO, Foodpanda Group, they are very happy about the recent support from Goldman Sachs. The investment group has a deep expertise in online marketplaces and this will help them in rising as a leading online food delivery marketplace in emerging markets targeting over 3 billion consumers.
The company is operational in 40 countries across 5 continents, which includes 580 cities and claims to have partnership with more than 6,000 restaurants. Foodpanda acquired its arch- rivals TastyKhana in 2014 and JustEat.in in February this year.