Odisha News Insight

Foodpanda raises $100 mn led by Goldman Sachs

FoodpandaOnline food delivery marketplace Foodpanda on Friday raised an additional $100 million led by Goldman Sachs, a company statement said in New Delhi. Together with the last funding of $110 million in March, Foodpanda has now raised over $310 million since its launch in 2012.

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)

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