Startup City Magazine

Foodpanda Raises $100 Million in Funding led by Goldman Sachs

Bangalore: After raising its last funding of $110 million in March this years, the global food delivery service Foodpanda has now guzzled yet another $100 million in a funding round led by Goldman Sachs. Since its inception, Foodpanda has so far raised more than $310 million and has acquired competitors in India, Mexico, Russia, Brazil, Eastern Europe and South-East Asia. The brand will not only use this recent funding to expand its own delivery activities but also improve overall customer experience across its 40 markets. Goldman Sachs Investment Partners will be soon joining the Advisory Board of Foodpanda as a part of this financing round.

Talking about the event, Ralf Wenzel, Co-Founder & CEO, Foodpanda group says, “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 three billion consumers. 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”. Foodpanda which is currently active in over 580 cities around the world has been associated with over 60,000 restaurants.

Echoing similar sentiments, Ian Friedman, Goldman Sachs Investment Partners, asserts, “We have been impressed by both the growth trajectory and management team of Foodpanda. We believe that Foodpanda has a tremendous opportunity to cement its emerging markets leadership position in the coming years. It is our expectation that the company’s innovative, value-added offerings will lead them to be the winner in online food delivery within the markets in which it operates”.

Current Issue

Featured Startups

Neil Savant,Managing Director,Falcon-Control-Systems-Automation

FCSA: To Make India an In-house Automation Equipment Producing Nation

Neil Savant,Managing Director,Falcon-Control-Systems-Automation