Rocket Internet’s Foodpanda Lands US$20 Million Investment Deal

Foodpanda just received a pretty sizeable boost. The company has closed an investment deal worth over US$20 million with participation from AB Kinnevik and Phenomen Ventures, among others.

Foodpanda is an online food delivery platform dedicated to emerging markets. A Rocket Internet company, Foodpanda and its affiliate, Hellofood, operate in 27 countries around the world.

Over the last few months, Foodpanda has expanded into 15 new countries. It launched mobile apps for iOS and Android in January, soon after becoming one of the top food delivery apps in the world. Foodpanda cooperates with over 15,000 restaurants and eateries and is a leader in many of the markets in which it has a presence.

Currently, the company operates in seven Latin American countries – Argentina, Brazil, Colombia, Chile, Venezuela, Mexico and Peru – largely as Hellofood. It began its regional attack in 2012, and just last month, Alejandro Ponce, who heads Hellofood in Latin America, spoke with PulsoSocial about the company’s local approach as well as its strategies for taking on competitors.

This recent investment will certainly be highly valuable for Foodpanda in continuing its expansion, refining its product and dealing with the numerous other players in the online food delivery space. This marks the company’s first reported investment (beyond backing from its creator, Rocket Internet).

Ralf Wenzel, Global Managing Director of Foodpanda, remarked:

Winning the trust from these well-known and experienced investors is a great achievement for such a young company and emphasizes the position of Foodpanda as the most global food delivery service. With the new capital, we will make another huge step forward to further accelerated growth and optimized customer service. It’s our goal that Foodpanda comes into everyone’s mind when thinking about ordering food.

Rocket Internet & Investment Success

When it comes to getting investments for its startups, Rocket Internet seems to have the formula down.

Linio, its Latin American e-commerce retailer, brought in US$32 million last month on top of two other funding deals totaling about US$40 million earlier in the year. Discount coupon platform CupoNation closed a deal with Holtzbrinck Ventures just months after its Brazilian launch, and home furnishings site Mobly announced funding from Cisneros Group only days ago.