PE-backed Foodpanda receives $8m for Middle East expansion

The fresh capital will allow Foodpanda to expand into the Middle East, further highlighting the company's strategy of expanding its geographical footprint. The firm is already operating in Saudi Arabia.

In August this year, Foodpanda acquired Brazilian competitor MegaMenu. At the same time, it started operating in Eastern Europe, launching its business in the Czech Republic.

In May 2013, Foodpanda received more than $20m in funding from private equity houses such as Investment AB Kinnevik and Phenomen.

iMena is an investor in consumer internet businesses in the Middle East and North Africa.

Company
Foodpanda allows users to order food online or via its dedicated app. It was founded last year in Berlin.

The online platform operates under the name Hellofood outside of Europe. It currently offers food delivery services in 28 countries, employing around 500 staff.

People
iMena co-founders Adey Salamin and Khaldoon Tabaza act as the company's CEO and managing director respectively. Ralf Wenzel is global managing director at Foodpanda.

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