Vitruvian leads $64m round for Just-Eat

Co-investment was provided by previous investors Index Ventures, Greylock Partners and Redpoint Ventures.

The investment will underpin international expansion, acquisitive growth and product development.

Vitruvian invested through its inaugural vehicle Vitruvian Investment Partnership, which closed on €925m in 2008.

Previous funding
Index Ventures led a £10.5m series-A funding round for Just-Eat in July 2009, with co-investment provided by Venrex Investment Management and existing shareholders. The founders retained a controlling stake in the company.

In March 2011, Index reinvested in the company as part of a $48m funding round led by Greylock Partners and Redpoint Ventures. The investment supported the international expansion of the company through consolidation acquisitions in France, Brazil and Canada.

Company
Launched in Denmark in 2001 but currently based in London, Just-Eat is an online takeaway ordering service. The company has partnered with more than 25,000 restaurants, 11,000 of which are in the UK, allowing users to place takeaway orders from restaurants via the Just-Eat website. The firm has received more than 30 million orders since its launch.

People
Mike Risman is managing partner at Vitruvian. Klaus Nyengaard is CEO of Just-Eat.

Advisers
Equity – SJ Berwin (Legal); KPMG (Financial due diligence).
Company – Torch Partners Corporate Finance (Corporate finance); Bird and Bird (Legal).

 

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• Topics
• UK / Ireland
• Consumer
• Expansion
• United Kingdom
• Index Ventures
• Vitruvian Partners
• SJ Berwin
• KPMG