Looks like there’s something people in established markets and emerging markets have in common: they both eat food. And they like it. And they want to be able to order more of it online—hence the reason online takeout ordering platform Foodpanda and its affiliate brand, Hellofood, has been raising money and clearing a path across four continents.
After raising $28 million in 2013, the Rocket Internet-owned company has raised another $20 million round from a group of investors including existing investor Phenomen Ventures.
Last year, the company rolled out to 20 countries, and it’s aiming for another 20 by the end of Q1 2014. Up next, Foodpanda will be expanding to Croatia, Bulgaria, Serbia, Slovenia, Kazakhstan, Azerbaijan, Tanzania and Uganda. Sounds…dangerous.
Currently, Foodpanda has more than 22,000 restaurant partners worldwide. That’s up from 15,000 last May. The company operates as FoodPanda in Eastern Europe and Asia, and HelloFood in Africa, the Middle East, and Latin America.
“We are currently the most globally prominent online marketplace for food delivery, active and rising in Asia, Europe, Latin America, the Middle East and Africa. Having acquired the trust from experienced investors we will be able to continue our growth strategy to become a truly global Internet brand,” said Ralf Wenzel, Co-Founder and Global Managing Director foodpanda/hellofood, in a statement. “Further to this, we will push our expansion within our existing markets, to gain presence at every corner of every country we are active in. We continue to invest in customer service, creating the most convenient way to order food – no matter where you are.”
While other big name food ordering services like GrubHub/Seamless, Just-Eat, and Delivery Hero are grappling for market share in the U.S., the UK, and other developed markets, Foodpanda is drilling down on emerging markets. Currently, the service is being offered in Argentina, Bangladesh, Brazil, Chile, Colombia, Czech Republic, Ghana, Hungary, India, Indonesia, Ivory Coast, Jordan, Kazakhstan, Kenya, Malaysia, Mexico, Morocco, Nigeria, Pakistan, Peru, Poland, Romania, Russia, Rwanda, Saudi Arabia, Senegal, Singapore, Slovakia, Taiwan, Tanzania, Thailand, Uganda, Ukraine, Venezuela, and Vietnam.
The strategy is making more and more sense as the online ordering platforms in the established markets are raising larger rounds of capital to compete with one another. Notably, Delivery Hero just raised an $88 million round last month, following a $30 million round last July. Meanwhile, Just-Eat recently raised a $64 million round and GrubHub and Seamless have officially consolidated to form a super takeout ordering platform.
Foodpanda/hellofood has raised $48 million altogether.