Latest News

Foodpanda has announced raising of USD 100 million from investors

Today the mobile food delivery app Foodpanda has announced the raising of fresh funds to the tune of USD 100 million (about Rs 635 crore) in a financing round led by Goldman Sachs.

The company will use these funds for the expansion of its operations and to strengthen last mile delivery, especially in emerging markets like India.

“Last-mile delivery has been part of Foodpanda’s operations since the beginning, it will now accelerate its efforts to drive customer satisfaction, aiming to offer the most convenient way of ordering food from the mobile app and online,” Foodpanda said in a statement.

The investment will allow the company build a leading mobile food delivery marketplace in emerging markets targeting over three billion consumers, Foodpanda Group co-founder and CEO Ralf Wenzel said. “The emerging markets represent the largest opportunity in online food delivery,” he added.

Get Daily Prediction & Stocks Tips On Your Mobile