Foodpanda to grow bigger, raises $100mn with help from Goldman Sachs

It’s raining funds for foodpanda. The global mobile food delivery marketplace has raised an additional funding of USD 100 Million led by Goldman Sachs, which it plans to for expanding its last-mile delivery operations and further improving customer experiences.
It is interesting to note that foodpanda has raises over USD 310 Million since its launch in 2012, and had secured funding worth USD 110 Mn in March 2015.

After acquiring key competitors in India, Mexico, Russia, Brazil, Eastern Europe and South-East Asia, the company will use the recent investment to further expand its own delivery activities and improve overall customer experience across its 40 markets. 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.

Ralf Wenzel, co-founder and CEO of foodpanda group, is ecstatic about this achievement and was quoted saying, “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. 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“.

Ian Friedman, Goldman Sachs Investment Partners: "We have been impressed by both the growth trajectory and high-quality 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 foodpanda to be the winner in online food delivery within the markets in which it operates.”

As part of the financing round, Goldman Sachs Investment Partners will join the Advisory Board of foodpanda.