Rocket Internet leads $110m round for Foodpanda
Emerging markets-focused food delivery app Foodpanda has raised another $110 million in a funding round led by its Germany-based parent Rocket Internet. A number of existing and new backers also took part.
The company will use the new funds to improve its products and technology with the aim of improving the user experience and customer service, accordiing to a statement.
Foodpanda has now raised more than $200 million since its 2012 launch. This latest round comes one month after the company acquired seven local competitors to bulk up its presence in Asia.
With interests ranging from Eastern Europe to Latin America, Foodpanda is part of Rocket Internet's Global Online Takeaway Group. It operates in 40 countries and partners with 45,000 restaurants.
Customers use the company's website or mobile app to enter their choice of meal. Foodpanda then sends the order to the restaurant, which prepares and delivers the food. The company also shares its sales data and analytics with restaurants.
Rocket Internet also owns several Asian e-commerce brands, including Zalora and Jabong, which it consolidated along with three other fashion retailers last year into the Global Fashion Group. More recently, it has provided funding to Indonesian online marketplace Bridestory and set up an online payments platform with Philippine Long Distance Telephone (PLDT).
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