Internet, Investments, News

Foodpanda’s affiliate brand raises USD 8 million

foodpanda-hellofood1Rocket Internet’s global online food ordering platform, Hellofood has raised USD 8 million in funding from iMENA holding, a regional group of consumer online businesses in the Middle East and North Africa region.

Announcement comes just few months after Foodpanda (Hellofood is affiliate brand of Foodpanda) raised more than USD 20 million in funding from a group of undisclosed investors, which also included Investment AB Kinnevik and Phenomen Ventures.

With the new partnership Hellofood is expected to launch its services in more countries in the middle east region.

“We are very excited with the potential opportunities and advantages that this partnership will offer us. Rocket Internet is regarded indisputably as the world’s largest online business incubator and partnering with them consolidates our efforts to position iMENA as the region’s leading online group,” said Khaldoon Tabaza, iMENA’s co-founder and Managing Director.

Foodpanda has recently rolled out its services in Eastern Europe after launch in Czech Republic, with acquisition of MegaMenu in Brazil. In August, it had also acquired its Brazilian competitor Janamesa.

Hellofood with its affiliate brand Foodpanda currently operates in 28 countries in Latin America, Asia, Central and Eastern Europe, and the Middle East. Hellofood reaches around three billion people worldwide and allows users in each market to order different cuisines and flavours from hundreds of restaurants which deliver the orders.

iMENA Holdings invests in builds and partners with leading teams and organizations to form an integrated and actively managed group of online platforms in the Middle East and North African (MENA) region. In addition to its investment activities, iMENA Holdings offers its partners a wide range of strategic and operational support.

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