Foodpanda raises $100 million

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Foodpanda raises $100 million

#1 Postby jayprakashimtn » Sat May 02, 2015 1:15 pm

Berlin based global mobile food delivery market place, Foodpanda has raised $100 million in funding from investors led by Goldman Sachs. It also raised $110 million in March, since its launch in the year 2012 Foodpanda has raised a total of $310 million.

Foodpanda has been acquiring key competitors in India, Brazil, Russia, Mexico, South East Asia and Eastern Europe. The company intends to use the investment to expand its delivery and improve customer experience in 40 countries. It recently announced that it would extend its delivery in India.

Saurabh Kochar, Chief Executive of the company’s Indian unit and Chied Business Officer of global operations, said that a bulk of this funding is expected to come to India which is one of the largest markets for Foodpanda globally.

The services of Foodpanda are currently available in five cities in India: Bengaluru, Delhi, Hyderabad, Mumbai and Pune.

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