Investors pump further $20m into Foodpanda

The firm will use the fresh funding to boost its international expansion, with the aim of achieving operations in more than 40 markets by the end of Q1. 

Backed by Rocket Internet, Investment AB Kinnevik and Phenomen Ventures, Foodpanda launched in 2013 with a funding round in excess of $20m. The company received a further $8m from iMena to fuel its Middle Eastern expansion in September 2013, following the acquisition of Brazilian competitor MegaMenu a month earlier. 

Venture investors have piled into the food delivery platform space in recent years, with ownership of such companies characterised by a noticeable number of follow-on funding rounds. 

Company
Founded in 2013 and based in Berlin, Foodpanda is a food delivery platform launched by Rocket Internet. Last year, the firm expanded into 20 new markets and launched an app for iPhone and Android.

The company will focus on expansion into Croatia, Bulgaria, Serbia, Slovenia, Kazakhstan, Azerbaijan, Tanzania and Uganda this year. 

People
Ralf Wenzel is the global managing director of Foodpanda.

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