After launching in Romania last year, Foodpanda raises more funds for global expansion
Online food delivery marketplace foodpanda, launched in Romania last year, has received another USD 20 million in funding from a group of investors including Phenomen Ventures.
With the new investment foodpanda is aiming to continue its global expansion ambitions and reach more than 40 markets by the end of the first quarter this year, said Ralf Wenzel (pictured), Co-Founder and Global Managing Director foodpanda and affiliated brand hellofood.
Built by German online business incubator Rocket Internet, the global food delivery online platform is also aiming to expand in Romania beyond Bucharest to other major cities.
The company is currently operating in four continents.
Following its growth strategy, foodpanda will also expand its services into eight more countries including Croatia, Bulgaria, Serbia, Slovenia, Kazakhstan, Azerbaijan, Tanzania and Uganda in early 2014.
The online marketplace helps restaurants to increase delivery sales through online and mobile platforms and provides them with constantly evolving technology and analytics.
Customers can choose their favorite meal online and foodpanda processes the order directly to the restaurant, which delivers the meal to the customer. foodpanda partners with over 22,000 restaurants worldwide.
Rocket Internet was founded five years ago and is headquartered in Berlin. It currently has more than 75 active companies in its portfolio and works with more than 20,000 people.
Shaun Turton firstname.lastname@example.org