Foodpanda, an online takeaway delivery service backed by tech investor Rocket Internet, said on Friday (1 May) it had received $100 million in a financing round led by a Goldman Sachs hedge fund.
Goldman Sachs Investment Partners will take a seat on Foodpanda's advisory board. Existing investors including Rocket also took part in the round. The Berlin-based company has raised more than $310 million since it was set up in 2012.
Foodpanda is part of the Global Online Takeaway Delivery group created earlier this year by Rocket, which said in March it had increased its position in Foodpanda to take a majority stake of 52 percent in the company.
Foodpanda offers takeaway delivery services to local restaurants in 40 countries and has been acquiring rivals in a range of emerging markets over the past year, including India, Mexico, Russia, Brazil, eastern Europe and southeast Asia.
It said it plans to use the new funding to improve customer service in the existing markets where it operates. Foodpanda says it ranks as market leader in its business category in 32 of these 40 countries, including India and Russia.