Foodpanda is backed by tech investor Rocket Internet. As part of the financing round, Goldman Sachs Investment Partners will join the Foodpanda advisory board.
After acquiring key competitors in India, Mexico, Russia, Brazil, eastern Europe and South-East Asia, the company will use the recent investment to further expand its own delivery activities and improve overall customer experience across its 40 markets, the statement said.
“The emerging markets represent the largest opportunity in online food delivery and we are committed to create the most convenient way for ordering and delivering food,” Ralf Wenzel, co-founder and chief executive officer of Foodpanda group said.
“It is our expectation that the company’s innovative, value-added offerings will lead foodpanda to be the winner in online food delivery within the markets in which it operates,” Ian Friedman, Goldman Sachs Investment Partners said. (IANS)