After raising $110 million in March from Rocket Internet and others, now online food ordering marketplace Foodpanda has secured additional $100 million in funding led by Goldman Sachs. It has now raised over $310 million since its launch in 2012. Existing investors, among them Rocket Internet SE, also participated in the round. As part of the deal, Goldman Sachs Investment Partners will join the Advisory Board of Foodpanda.
After acquiring key competitors in India, Mexico, Russia, Brazil, Eastern Europe and South-East Asia, the company will use the investment to expand Foodpanda’s last-mile delivery operations and further improve customer experience
It is operating in 40 countries across five continents, and is active in over 580 cities around the world, and partnering with over 60,000 restaurants.
Ralf Wenzel, Co-Founder and CEO of Foodpanda group said, “We are very happy about the recent support from Goldman Sachs Investment Partners, with its deep expertise in online marketplaces, and which, together with our renowned group of investors, will allow us to build the leading mobile food delivery marketplace in Emerging Markets targeting over 3 billion consumers.”