Phenomen et al. sell €209m Delivery Hero stake

Rocket Internet has invested a total of €496m in Delivery Hero and now owns a 30% stake in the company. Phenomen, alongside other investors, have partially sold their stakes to the incubator for a consideration of €209m. The primary investment from Rocket amounts to €287m. 

Phenomen first became involved in the company in July 2013, leading a $30m series-D round. 

Delivery Hero stated it will use the funding to expand its position. A month ago, the company acquired competitors in the Czech Republic and Slovakia using funds from its balance sheet.

Rocket Internet has created the Global Online Takeaway Group to combine its stakes in foodpanda, Delivery Hero, Spain-based La Nevera Roja and Pizzabo, headquartered in Italy. Rocket stated the food and groceries sector, worth €324bn, is its key focus and it sees it as "the next frontier of e-commerce".

Previous funding
Rocket had previously raised a total of €635m from investors including Insight Venture Partners. In September 2014, Delivery Hero raised its largest funding round to date, securing €350m in a series-G round from existing investors Insight Venture Partners and Kite Ventures, together with new investor Vostok Nafta.

Company
Founded in May 2011, Delivery Hero is active in Germany, the UK, Sweden, Denmark, Finland, Poland, Austria, Slovakia, Czech Republic, Switzerland, South Korea, China, Australia and several Latin American countries.

The company's 90,000 partner restaurants in 24 countries generate more than €1bn in turnover through the platform and deliver more than 12 million meals to customers per month.

The business employs 1,500 people.

People
Niklas Östberg is CEO of Delivery Hero. Oliver Samwer is CEO of Rocket Internet.

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